Cinemark Holdings Inc (CNK) Receives “Outperform” Rating from Wedbush
Cinemark Holdings Inc (NYSE:CNK)‘s stock had its “outperform” rating reaffirmed by investment analysts at Wedbush in a research note issued to investors on Thursday. They presently have a $44.00 price objective on the stock. Wedbush’s price target points to a potential upside of 17.55% from the stock’s previous close.
CNK has been the topic of a number of other research reports. BidaskClub upgraded shares of Cinemark Holdings from a “hold” rating to a “buy” rating in a report on Tuesday, August 8th. Moffett Nathanson lowered 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. B. Riley reiterated a “buyl” rating on shares of Cinemark Holdings in a report on Sunday, August 13th. Piper Jaffray Companies reiterated a “buy” rating on shares of Cinemark Holdings in a report on Sunday, September 17th. Finally, J P Morgan Chase & Co cut their price objective on shares of Cinemark Holdings from $47.00 to $42.00 in a report on Tuesday, August 22nd. Two 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. The company currently has an average rating of “Hold” and a consensus price target of $42.21.
Cinemark Holdings (NYSE CNK) traded up 0.75% during mid-day trading on Thursday, reaching $37.71. The company’s stock had a trading volume of 566,855 shares. The stock has a market capitalization of $4.37 billion, a P/E ratio of 16.12 and a beta of 1.10. The stock’s 50 day moving average price is $34.80 and its 200 day moving average price is $39.15. Cinemark Holdings has a 1-year low of $32.03 and a 1-year high of $44.84.
Cinemark Holdings (NYSE:CNK) last issued its quarterly earnings data on Friday, August 4th. The company reported $0.44 EPS for the quarter, hitting analysts’ consensus estimates 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 analyst estimates of $751.72 million. During the same quarter in the previous year, the business posted $0.46 EPS. The firm’s revenue was up .9% compared to the same quarter last year. Analysts expect that Cinemark Holdings will post $2.08 EPS for the current fiscal year.
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In other Cinemark Holdings news, CEO Mark Zoradi acquired 5,000 shares of the company’s stock in a transaction that occurred on Friday, September 8th. The shares were purchased at an average price of $32.19 per share, for a total transaction of $160,950.00. Following the completion of the purchase, the chief executive officer now directly owns 172,456 shares in the company, valued at $5,551,358.64. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 9.20% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Advisor Group Inc. raised its stake in Cinemark Holdings by 2.3% during the second quarter. Advisor Group Inc. now owns 3,767 shares of the company’s stock worth $145,000 after acquiring an additional 84 shares during the period. Quantbot Technologies LP acquired a new stake in Cinemark Holdings during the second quarter worth about $146,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Cinemark Holdings by 9.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,792 shares of the company’s stock worth $147,000 after acquiring an additional 330 shares during the period. Advisors Asset Management Inc. raised its stake in Cinemark Holdings by 224.8% during the second quarter. Advisors Asset Management Inc. now owns 4,752 shares of the company’s stock worth $185,000 after acquiring an additional 3,289 shares during the period. Finally, Oppenheimer Asset Management Inc. acquired a new stake in Cinemark Holdings during the first quarter worth about $213,000. 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.
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