Cinemark (NYSE:CNK) Upgraded by Wall Street Zen to “Buy” Rating

Cinemark (NYSE:CNK) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Sunday.

Other research analysts have also issued reports about the company. JPMorgan Chase & Co. upped their target price on Cinemark from $35.00 to $36.00 and gave the company an “overweight” rating in a research note on Monday, May 4th. Morgan Stanley upped their target price on Cinemark from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Thursday, April 30th. Barrington Research restated an “outperform” rating and issued a $36.00 target price on shares of Cinemark in a research note on Monday, May 4th. B. Riley Financial restated a “neutral” rating on shares of Cinemark in a research note on Friday, April 17th. Finally, Wells Fargo & Company upped their target price on Cinemark from $32.00 to $36.00 and gave the company an “overweight” rating in a research note on Thursday, April 9th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Cinemark has an average rating of “Moderate Buy” and a consensus price target of $33.31.

Cinemark Stock Up 2.7%

Shares of CNK stock opened at $27.97 on Friday. Cinemark has a 12 month low of $21.60 and a 12 month high of $34.01. The firm has a market cap of $3.27 billion, a PE ratio of 24.75 and a beta of 1.03. The stock has a 50 day moving average of $28.18 and a 200-day moving average of $26.39. The company has a quick ratio of 0.58, a current ratio of 0.62 and a debt-to-equity ratio of 5.03.

Cinemark (NYSE:CNK) last issued its quarterly earnings results on Friday, May 1st. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). Cinemark had a return on equity of 41.31% and a net margin of 5.31%.The business had revenue of $643.10 million for the quarter, compared to analyst estimates of $632.74 million. During the same quarter last year, the firm earned ($0.32) earnings per share. The firm’s quarterly revenue was up 18.9% compared to the same quarter last year. On average, equities analysts predict that Cinemark will post 2.11 EPS for the current year.

Institutional Trading of Cinemark

Large investors have recently bought and sold shares of the stock. Intech Investment Management LLC grew its position in Cinemark by 129.0% in the third quarter. Intech Investment Management LLC now owns 156,602 shares of the company’s stock valued at $4,388,000 after acquiring an additional 88,203 shares during the period. Jain Global LLC grew its position in Cinemark by 37.4% in the third quarter. Jain Global LLC now owns 1,644,623 shares of the company’s stock valued at $46,082,000 after acquiring an additional 447,468 shares during the period. Gabelli Funds LLC bought a new stake in Cinemark in the third quarter valued at $1,444,000. Cartenna Capital LP grew its position in Cinemark by 29.4% in the third quarter. Cartenna Capital LP now owns 1,650,000 shares of the company’s stock valued at $46,233,000 after acquiring an additional 375,000 shares during the period. Finally, Junto Capital Management LP bought a new stake in Cinemark in the third quarter valued at $25,509,000.

About Cinemark

Cinemark Holdings, Inc (NYSE: CNK) is a leading theatrical exhibitor that acquires, develops and operates motion picture theatres under the Cinemark® brand in the United States and Latin America. The company’s core business involves the presentation of first-run feature films coupled with an array of in‐theatre services, including concessions, premium auditoriums and loyalty programs. Cinemark’s exhibition portfolio encompasses both corporate‐owned and franchised complexes, offering moviegoers a range of experiences from standard screens to large‐format halls.

The company’s product offerings extend beyond ticket sales to include an assortment of concession items, such as popcorn, fountain beverages, candy and specialty snacks, as well as bar and lounge concepts in select locations.