Barrington Research Weighs in on Cinemark Holdings Inc’s FY2017 Earnings (CNK)
Cinemark Holdings Inc (NYSE:CNK) – Stock analysts at Barrington Research dropped their FY2017 EPS estimates for Cinemark Holdings in a research note issued on Wednesday. Barrington Research analyst J. Goss now forecasts that the company will post earnings of $2.00 per share for the year, down from their prior estimate of $2.10. Barrington Research currently has a “Outperform” rating and a $46.00 price objective on the stock.
Several other equities research analysts have also recently issued reports on the stock. B. Riley set a $47.00 target price on shares of Cinemark Holdings and gave the stock a “buy” rating in a research note on Wednesday. Zacks Investment Research cut shares of Cinemark Holdings from a “hold” rating to a “sell” rating in a research note on Thursday, October 12th. Wedbush reaffirmed an “outperform” rating and set a $44.00 target price on shares of Cinemark Holdings in a research note on Thursday, October 5th. Morgan Stanley raised shares of Cinemark Holdings from an “underweight” rating to an “equal weight” rating and set a $38.00 target price on the stock in a research note on Thursday, October 5th. Finally, Credit Suisse Group lowered their target price on shares of Cinemark Holdings from $34.00 to $30.00 and set an “underperform” rating on the stock in a research note on Thursday, September 28th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $42.00.
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Shares of Cinemark Holdings (NYSE CNK) traded up 0.59% during trading on Friday, hitting $36.01. 220,321 shares of the company were exchanged. The firm’s 50-day moving average price is $35.54 and its 200 day moving average price is $38.61. The firm has a market capitalization of $4.17 billion, a PE ratio of 15.39 and a beta of 1.10. Cinemark Holdings has a 12 month low of $32.03 and a 12 month high of $44.84.
Cinemark Holdings (NYSE:CNK) last issued its earnings results on Friday, August 4th. The company reported $0.44 earnings per share for the quarter, hitting the Zacks’ 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 during the quarter, compared to analyst estimates of $751.72 million. During the same quarter in the prior year, the business earned $0.46 earnings per share. Cinemark Holdings’s revenue for the quarter was up .9% on a year-over-year basis.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Lord Abbett & CO. LLC purchased a new position in shares of Cinemark Holdings during the 2nd quarter worth $8,856,000. Public Employees Retirement System of Ohio raised its holdings in Cinemark Holdings by 1.2% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 54,219 shares of the company’s stock valued at $2,106,000 after buying an additional 626 shares during the period. Kalos Management Inc. raised its holdings in Cinemark Holdings by 2.2% in the 2nd quarter. Kalos Management Inc. now owns 59,613 shares of the company’s stock valued at $2,315,000 after buying an additional 1,281 shares during the period. Ameritas Investment Partners Inc. raised its holdings in Cinemark Holdings by 1.7% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 31,704 shares of the company’s stock valued at $1,232,000 after buying an additional 530 shares during the period. Finally, Nomura Holdings Inc. purchased a new stake in Cinemark Holdings in the 2nd quarter valued at about $641,000. Institutional investors and hedge funds own 90.13% of the company’s stock.
In related news, CEO Mark Zoradi purchased 5,000 shares of Cinemark Holdings stock in a transaction dated Friday, September 8th. The shares were acquired at an average price of $32.19 per share, for a total transaction of $160,950.00. Following the acquisition, the chief executive officer now directly owns 172,456 shares in the company, valued at $5,551,358.64. The purchase was disclosed in a filing with the SEC, which is available through this link. 9.20% of the stock is owned by insiders.
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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