Cinemark Holdings Inc. (CNK) Reaches New 52-Week High Following Analyst Upgrade
Shares of Cinemark Holdings Inc. (NYSE:CNK) hit a new 52-week high during trading on Tuesday after Royal Bank Of Canada raised their price target on the stock from $42.00 to $43.00. Royal Bank Of Canada currently has an outperform rating on the stock. Cinemark Holdings traded as high as $41.69 and last traded at $41.71, with a volume of 449,167 shares trading hands. The stock had previously closed at $41.66.
Several other analysts have also commented on the company. B. Riley reaffirmed a “buy” rating and issued a $47.00 price target on shares of Cinemark Holdings in a research note on Monday. Benchmark Co. reaffirmed a “hold” rating and issued a $35.94 price target on shares of Cinemark Holdings in a research note on Wednesday, November 9th. Wedbush reaffirmed a “neutral” rating and issued a $40.00 price target on shares of Cinemark Holdings in a research note on Tuesday, November 8th. Goldman Sachs Group Inc. raised Cinemark Holdings from a “neutral” rating to a “buy” rating and set a $46.00 price target on the stock in a research note on Monday, October 31st. Finally, Loop Capital reaffirmed a “buy” rating and issued a $44.00 price target on shares of Cinemark Holdings in a research note on Tuesday, October 4th. Seven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $41.62.
A number of large investors have recently added to or reduced their stakes in CNK. Bessemer Group Inc. increased its stake in Cinemark Holdings by 99.9% in the second quarter. Bessemer Group Inc. now owns 3,346 shares of the company’s stock worth $122,000 after buying an additional 1,672 shares in the last quarter. Advisor Group Inc. acquired a new position in Cinemark Holdings during the second quarter worth about $121,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Cinemark Holdings by 13.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,462 shares of the company’s stock worth $133,000 after buying an additional 412 shares during the last quarter. Cantab Capital Partners LLP acquired a new position in Cinemark Holdings during the second quarter worth about $161,000. Finally, Verition Fund Management LLC acquired a new position in Cinemark Holdings during the third quarter worth about $203,000. Institutional investors and hedge funds own 88.27% of the company’s stock.
The firm has a market capitalization of $4.84 billion, a PE ratio of 20.63 and a beta of 1.01. The stock’s 50-day moving average price is $39.46 and its 200-day moving average price is $37.31.
Cinemark Holdings (NYSE:CNK) last issued its earnings results on Tuesday, November 8th. The company reported $0.56 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.57 by $0.01. The business earned $768.60 million during the quarter, compared to analyst estimates of $776.40 million. Cinemark Holdings had a net margin of 8.06% and a return on equity of 20.75%. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.40 EPS. Equities analysts predict that Cinemark Holdings Inc. will post $1.99 EPS for the current year.
Cinemark Holdings Company Profile
Cinemark Holdings, Inc (Cinemark) is engaged in the motion picture exhibition business with theatres in the United States, Brazil, Mexico, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Curacao and Bolivia. The Company manages its business in two segments: United States markets and international markets.
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