Cinemark (NYSE:CNK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Monday.
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. “
CNK has been the topic of several other reports. Royal Bank of Canada boosted their target price on Cinemark to $46.00 and gave the stock an “outperform” rating in a research note on Monday, February 26th. Wedbush set a $40.00 target price on Cinemark and gave the stock an “outperform” rating in a research note on Tuesday, February 20th. ValuEngine downgraded Cinemark from a “buy” rating to a “hold” rating in a research note on Wednesday, March 7th. Barrington Research restated a “buy” rating and set a $49.00 target price on shares of Cinemark in a research note on Friday, March 2nd. Finally, Morgan Stanley boosted their target price on Cinemark from $38.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 31st. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $42.46.
Cinemark (NYSE:CNK) last announced its earnings results on Friday, February 23rd. The company reported $0.82 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.35. Cinemark had a return on equity of 19.48% and a net margin of 8.83%. The firm had revenue of $750.00 million for the quarter, compared to the consensus estimate of $745.92 million. During the same period in the previous year, the business earned $0.66 EPS. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. research analysts forecast that Cinemark will post 2.37 earnings per share for the current fiscal year.
In other Cinemark news, insider Valmir Fernandes sold 6,000 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $43.59, for a total transaction of $261,540.00. Following the sale, the insider now owns 103,582 shares in the company, valued at approximately $4,515,139.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Lee Roy Mitchell sold 174,607 shares of the business’s stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $36.72, for a total value of $6,411,569.04. Following the sale, the director now owns 5,528,843 shares in the company, valued at approximately $203,019,114.96. The disclosure for this sale can be found here. In the last quarter, insiders have sold 489,520 shares of company stock worth $17,922,848. Company insiders own 9.10% of the company’s stock.
Institutional investors have recently bought and sold shares of the business. Xact Kapitalforvaltning AB purchased a new stake in shares of Cinemark in the fourth quarter worth about $325,000. We Are One Seven LLC purchased a new stake in shares of Cinemark in the fourth quarter worth about $230,000. MetLife Investment Advisors LLC purchased a new stake in shares of Cinemark in the fourth quarter worth about $2,335,000. Vident Investment Advisory LLC boosted its stake in shares of Cinemark by 78.9% in the fourth quarter. Vident Investment Advisory LLC now owns 13,669 shares of the company’s stock worth $476,000 after buying an additional 6,030 shares during the last quarter. Finally, Sciencast Management LP purchased a new stake in shares of Cinemark in the fourth quarter worth about $279,000. Institutional investors and hedge funds own 93.97% of the company’s stock.
TRADEMARK VIOLATION WARNING: “Cinemark (CNK) Lowered to “Hold” at Zacks Investment Research” was originally published by American Banking News and is the property of of American Banking News. If you are viewing this news story on another domain, it was illegally copied and republished in violation of U.S. and international copyright & trademark laws. The legal version of this news story can be accessed at https://www.americanbankingnews.com/2018/03/12/cinemark-cnk-lowered-to-hold-at-zacks-investment-research.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Cinemark Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cinemark and related companies with MarketBeat.com's FREE daily email newsletter.