Cinemark Holdings Inc (CNK) Raised to “Equal Weight” at Morgan Stanley
Cinemark Holdings Inc (NYSE:CNK) was upgraded by equities researchers at Morgan Stanley from an “underweight” rating to an “equal weight” rating in a research report issued on Thursday, MarketBeat reports.
Several other research analysts also recently weighed in on the stock. Royal Bank Of Canada set a $43.00 price objective on shares of Cinemark Holdings and gave the stock a “hold” rating in a report on Sunday, September 10th. Credit Suisse Group downgraded shares of Cinemark Holdings from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $38.00 to $34.00 in a report on Thursday, June 22nd. Zacks Investment Research downgraded shares of Cinemark Holdings from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. ValuEngine downgraded shares of Cinemark Holdings from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Finally, Moffett Nathanson downgraded shares of Cinemark Holdings from a “neutral” rating to a “sell” rating and set a $33.00 price objective on the stock. in a report on Monday, June 12th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $42.21.
Cinemark Holdings (NYSE CNK) traded up 1.26% on Thursday, reaching $37.90. 1,165,269 shares of the company were exchanged. The stock has a market capitalization of $4.39 billion, a P/E ratio of 16.20 and a beta of 1.10. Cinemark Holdings has a 12-month low of $32.03 and a 12-month high of $44.84. The company’s 50-day moving average price is $34.80 and its 200-day moving average price is $39.15.
Cinemark Holdings (NYSE:CNK) last released its quarterly earnings data on Friday, August 4th. The company reported $0.44 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.44. Cinemark Holdings had a net margin of 9.12% and a return on equity of 20.98%. The firm had revenue of $751.20 million for the quarter, compared to the consensus estimate of $751.72 million. During the same quarter in the prior year, the company posted $0.46 earnings per share. The business’s revenue was up .9% on a year-over-year basis. Equities research analysts anticipate that Cinemark Holdings will post $2.07 earnings per share for the current fiscal year.
In other news, CEO Mark Zoradi bought 5,000 shares of Cinemark Holdings stock in a transaction dated Friday, September 8th. The stock was purchased at an average price of $32.19 per share, for a total transaction of $160,950.00. Following the purchase, the chief executive officer now directly owns 172,456 shares in the company, valued at approximately $5,551,358.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 9.20% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Victory Capital Management Inc. grew its stake in shares of Cinemark Holdings by 15.4% in the 2nd quarter. Victory Capital Management Inc. now owns 187,598 shares of the company’s stock worth $7,288,000 after acquiring an additional 25,083 shares in the last quarter. Macquarie Group Ltd. grew its stake in shares of Cinemark Holdings by 3.0% in the 1st quarter. Macquarie Group Ltd. now owns 1,538,047 shares of the company’s stock worth $68,197,000 after acquiring an additional 44,210 shares in the last quarter. Partners Value Investments LP grew its stake in shares of Cinemark Holdings by 46.0% in the 2nd quarter. Partners Value Investments LP now owns 73,000 shares of the company’s stock worth $2,836,000 after acquiring an additional 23,000 shares in the last quarter. Soros Fund Management LLC bought a new position in Cinemark Holdings during the first quarter valued at about $310,000. Finally, Kayne Anderson Rudnick Investment Management LLC grew its position in Cinemark Holdings by 1.4% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,304,557 shares of the company’s stock valued at $89,532,000 after buying an additional 32,271 shares during the period. Hedge funds and other institutional investors own 90.13% of the company’s stock.
About Cinemark Holdings
Cinemark Holdings, Inc is engaged in the motion picture exhibition business with theatres in the United States (U.S.), Brazil, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Paraguay, Curacao and Bolivia. The Company manages its business in two segments: U.S.
Receive News & Ratings for Cinemark Holdings Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cinemark Holdings Inc and related companies with MarketBeat.com's FREE daily email newsletter.