Royal Bank Of Canada Raises Cinemark Holdings Inc. (CNK) Price Target to $43.00
Cinemark Holdings Inc. (NYSE:CNK) had its price objective raised by Royal Bank Of Canada from $42.00 to $43.00 in a research note released on Monday morning. Royal Bank Of Canada currently has an outperform rating on the stock.
Several other equities analysts have also commented on CNK. B. Riley reissued a buy rating and issued a $47.00 target price on shares of Cinemark Holdings in a report on Monday. Wedbush reaffirmed a neutral rating and set a $40.00 price objective on shares of Cinemark Holdings in a report on Tuesday, November 8th. Benchmark Co. reaffirmed a hold rating and set a $35.94 price objective on shares of Cinemark Holdings in a report on Wednesday, November 9th. MKM Partners raised their price objective on Cinemark Holdings from $40.00 to $43.00 and gave the stock a buy rating in a report on Monday, July 25th. Finally, Goldman Sachs Group Inc. raised Cinemark Holdings from a neutral rating to a buy rating and set a $46.00 price objective on the stock in a report on Monday, October 31st. Seven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $41.62.
Shares of Cinemark Holdings (NYSE:CNK) traded up 0.24% on Monday, reaching $41.84. The company had a trading volume of 31,049 shares. The firm has a market capitalization of $4.84 billion, a PE ratio of 20.61 and a beta of 1.01. The firm’s 50 day moving average is $39.75 and its 200 day moving average is $37.46. Cinemark Holdings has a 12 month low of $26.56 and a 12 month high of $42.56.
Cinemark Holdings (NYSE:CNK) last announced its quarterly earnings data on Tuesday, November 8th. The company reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by $0.01. The company 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 firm’s revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.40 earnings per share. On average, equities research analysts expect that Cinemark Holdings will post $1.99 earnings per share for the current fiscal year.
Large investors have recently made changes to their positions in the stock. Advisor Group Inc. purchased a new stake in shares of Cinemark Holdings during the second quarter worth approximately $121,000. 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 during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake 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 bought a new stake in Cinemark Holdings during the second quarter worth about $161,000. Finally, Park National Corp OH bought a new stake in Cinemark Holdings during the second quarter worth about $203,000. Hedge funds and other institutional investors own 88.27% of the company’s stock.
About Cinemark Holdings
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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