RBC Capital Markets Reaffirms Outperform Rating for Cinemark Holdings Inc. (CNK)
RBC Capital Markets reaffirmed their outperform rating on shares of Cinemark Holdings Inc. (NYSE:CNK) in a research report report published on Monday morning. RBC Capital Markets currently has a $43.00 price objective on the stock, up from their prior price objective of $42.00.
A number of other brokerages have also weighed in on CNK. Wedbush reissued a neutral rating and issued a $40.00 price target on shares of Cinemark Holdings in a report on Tuesday, November 8th. B. Riley reissued a buy rating and issued a $47.00 price target on shares of Cinemark Holdings in a research note on Monday. Goldman Sachs Group Inc. raised shares of Cinemark Holdings from a neutral rating to a buy rating and set a $46.00 price target for the company in a research note on Monday, October 31st. Loop Capital reissued a buy rating and issued a $44.00 price target on shares of Cinemark Holdings in a research note on Tuesday, October 4th. Finally, Credit Suisse Group AG set a $37.00 target price on shares of Cinemark Holdings and gave the stock a hold rating in a research report on Monday, August 1st. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $41.62.
Shares of Cinemark Holdings (NYSE:CNK) opened at 41.74 on Monday. The stock’s 50 day moving average price is $39.75 and its 200 day moving average price is $37.46. Cinemark Holdings has a 52-week low of $26.56 and a 52-week high of $42.56. The company has a market capitalization of $4.83 billion, a P/E ratio of 20.56 and a beta of 1.01.
Cinemark Holdings (NYSE:CNK) last released its earnings results on Tuesday, November 8th. The company reported $0.56 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by $0.01. The firm had revenue of $768.60 million for the quarter, compared to analyst estimates of $776.40 million. Cinemark Holdings had a return on equity of 20.75% and a net margin of 8.06%. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period last year, the business earned $0.40 earnings per share. On average, equities research analysts forecast that Cinemark Holdings will post $1.99 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Credit Suisse AG increased its stake in Cinemark Holdings by 842.5% in the third quarter. Credit Suisse AG now owns 1,666,182 shares of the company’s stock valued at $63,781,000 after buying an additional 1,489,400 shares during the period. JPMorgan Chase & Co. increased its stake in Cinemark Holdings by 12.1% in the third quarter. JPMorgan Chase & Co. now owns 5,163,304 shares of the company’s stock valued at $197,653,000 after buying an additional 557,689 shares during the period. Citadel Advisors LLC increased its stake in Cinemark Holdings by 146.0% in the second quarter. Citadel Advisors LLC now owns 738,168 shares of the company’s stock valued at $26,914,000 after buying an additional 438,044 shares during the period. Bank of Montreal Can acquired a new stake in Cinemark Holdings during the second quarter valued at $15,926,000. Finally, Vanguard Group Inc. increased its stake in Cinemark Holdings by 4.8% in the second quarter. Vanguard Group Inc. now owns 7,699,930 shares of the company’s stock valued at $280,740,000 after buying an additional 352,241 shares during the period. 88.27% of the stock is owned by institutional investors.
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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