Cinemark Holdings Inc (CNK) Lowered to Sell at Zacks Investment Research
Cinemark Holdings Inc (NYSE:CNK) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Thursday.
According to Zacks, “CINEMARK HOLDINGS Is a leader in the motion picture exhibition industry.Cinemark operates 408 theatres and 4,657 screens in 38 states in the United States and internationally in 12 countries, mainly in Mexico, South and Central America. “
A number of other analysts have also recently issued reports on CNK. Credit Suisse Group cut shares of Cinemark Holdings from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $38.00 to $34.00 in a research note on Thursday, June 22nd. Wedbush increased their price objective on shares of Cinemark Holdings from $43.00 to $45.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 4th. Morgan Stanley reduced their price objective on shares of Cinemark Holdings from $43.00 to $40.00 and set an “underweight” rating for the company in a research note on Thursday, July 6th. ValuEngine raised shares of Cinemark Holdings from a “hold” rating to a “buy” rating in a research note on Friday, July 7th. Finally, B. Riley reissued a “buy” rating and issued a $51.00 price objective on shares of Cinemark Holdings in a research note on Monday, July 31st. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. Cinemark Holdings presently has a consensus rating of “Hold” and an average target price of $42.07.
Shares of Cinemark Holdings (CNK) traded up 0.53% on Thursday, reaching $36.10. 629,731 shares of the company’s stock traded hands. The firm’s 50-day moving average is $35.06 and its 200-day moving average is $38.90. Cinemark Holdings has a 52-week low of $32.03 and a 52-week high of $44.84. The stock has a market cap of $4.18 billion, a price-to-earnings ratio of 15.43 and a beta of 1.10.
Cinemark Holdings (NYSE:CNK) last announced its quarterly earnings data on Friday, August 4th. The company reported $0.44 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.44. The firm had revenue of $751.20 million during the quarter, compared to analysts’ expectations of $751.72 million. Cinemark Holdings had a net margin of 9.12% and a return on equity of 20.98%. The company’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.46 earnings per share. Analysts anticipate that Cinemark Holdings will post $2.07 EPS for the current fiscal year.
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In other Cinemark Holdings news, CEO Mark Zoradi acquired 5,000 shares of the stock in a transaction on Friday, September 8th. The stock was acquired at an average price of $32.19 per share, for a total transaction of $160,950.00. Following the completion of the transaction, the chief executive officer now directly owns 172,456 shares of the company’s stock, valued at $5,551,358.64. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 9.20% of the stock is owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in CNK. Advisor Group Inc. lifted its holdings in shares of Cinemark Holdings by 2.3% in the 2nd 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 last quarter. Quantbot Technologies LP bought a new stake in shares of Cinemark Holdings in the 2nd quarter worth about $146,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Cinemark Holdings by 9.5% in the 2nd 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 last quarter. Advisors Asset Management Inc. lifted its holdings in shares of Cinemark Holdings by 224.8% in the 2nd 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 last quarter. Finally, Oppenheimer Asset Management Inc. bought a new stake in shares of Cinemark Holdings in the 1st quarter worth about $213,000. Hedge funds and other institutional investors own 90.13% of the company’s stock.
Cinemark Holdings Company Profile
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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