Zacks Investment Research Upgrades Carmike Cinemas Inc. (CKEC) to “Hold”
Carmike Cinemas Inc. (NASDAQ:CKEC) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Monday.
According to Zacks, “Carmike Cinemas is one of the largest motion picture exhibitors in the United States. Carmike targets small to mid-size non-urban markets. “
Several other research analysts also recently issued reports on the company. Wedbush reaffirmed a “neutral” rating and set a $33.00 price target on shares of Carmike Cinemas in a research note on Thursday, September 22nd. B. Riley set a $32.75 price target on Carmike Cinemas and gave the stock a “hold” rating in a research note on Thursday, July 28th. One analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $30.83.
Carmike Cinemas (NASDAQ:CKEC) traded up 0.30% on Monday, reaching $33.10. 273,431 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $32.38 and a 200-day moving average price of $30.82. Carmike Cinemas has a 1-year low of $18.52 and a 1-year high of $33.34. The company has a market capitalization of $807.24 million, a PE ratio of 662.00 and a beta of 1.39.
Carmike Cinemas (NASDAQ:CKEC) last released its earnings results on Monday, August 1st. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by $0.04. The business earned $204.70 million during the quarter, compared to analyst estimates of $209.35 million. Carmike Cinemas had a net margin of 0.15% and a return on equity of 3.65%. Carmike Cinemas’s revenue was down 6.6% compared to the same quarter last year. During the same period last year, the business posted $0.36 EPS. On average, equities research analysts anticipate that Carmike Cinemas will post $0.25 earnings per share for the current year.
A number of hedge funds have recently bought and sold shares of CKEC. Teacher Retirement System of Texas boosted its stake in Carmike Cinemas by 14.0% in the second quarter. Teacher Retirement System of Texas now owns 3,437 shares of the company’s stock worth $104,000 after buying an additional 423 shares in the last quarter. Barclays PLC boosted its stake in Carmike Cinemas by 75.1% in the second quarter. Barclays PLC now owns 3,502 shares of the company’s stock valued at $106,000 after buying an additional 1,502 shares during the period. Legal & General Group Plc boosted its stake in Carmike Cinemas by 16.9% in the first quarter. Legal & General Group Plc now owns 4,040 shares of the company’s stock valued at $122,000 after buying an additional 583 shares during the period. BlackRock Inc. boosted its stake in Carmike Cinemas by 247.7% in the second quarter. BlackRock Inc. now owns 5,028 shares of the company’s stock valued at $151,000 after buying an additional 3,582 shares during the period. Finally, Pacad Investment Ltd. acquired a new stake in Carmike Cinemas during the second quarter valued at approximately $163,000. Hedge funds and other institutional investors own 86.62% of the company’s stock.
About Carmike Cinemas
Carmike Cinemas, Inc is a motion picture exhibitor company. The Company owns and operates theatres and screens. Its theatres are equipped to provide digital cinema. It owns, operates or has an interest in approximately 280 theatres with over 2,940 screens located in over 40 states. In addition, it has approximately 260 theatres with over 1,090 screens equipped for three dimension (3-D).
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