Cinemark Holdings Inc (NYSE:CNK) Raised to “Buy” at BidaskClub
Cinemark Holdings Inc (NYSE:CNK) was upgraded by investment analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Tuesday, August 8th.
A number of other research firms also recently issued reports on CNK. Barrington Research reduced their price objective on Cinemark Holdings from $49.00 to $46.00 and set an “outperform” rating on the stock in a research note on Monday, August 7th. Wedbush boosted their target price on Cinemark Holdings from $43.00 to $45.00 and gave the company a “neutral” rating in a research report on Tuesday, July 4th. Credit Suisse Group downgraded Cinemark Holdings from a “neutral” rating to an “underperform” rating and cut their target price for the company from $38.00 to $34.00 in a research report on Thursday, June 22nd. Morgan Stanley cut their target price on Cinemark Holdings from $43.00 to $40.00 and set an “underweight” rating on the stock in a research report on Thursday, July 6th. Finally, Goldman Sachs Group, Inc. (The) downgraded Cinemark Holdings from a “conviction-buy” rating to a “buy” rating and set a $49.00 target price on the stock. in a research report on Monday, April 10th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $43.14.
Shares of Cinemark Holdings (CNK) traded down 3.06% during mid-day trading on Tuesday, reaching $34.52. 2,275,672 shares of the company’s stock were exchanged. The company has a market cap of $4.00 billion, a PE ratio of 14.75 and a beta of 1.03. Cinemark Holdings has a 52-week low of $34.32 and a 52-week high of $44.84. The company’s 50-day moving average price is $37.82 and its 200 day moving average price is $40.98.
Cinemark Holdings (NYSE:CNK) last released its quarterly earnings data on Friday, August 4th. The company reported $0.44 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.44. Cinemark Holdings had a return on equity of 20.98% and a net margin of 9.12%. The business had revenue of $751.20 million for the quarter, compared to the consensus estimate of $751.72 million. During the same quarter in the previous year, the company posted $0.46 EPS. The company’s revenue was up .9% compared to the same quarter last year. On average, equities research analysts predict that Cinemark Holdings will post $2.13 EPS for the current year.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. BB&T Corp raised its position in shares of Cinemark Holdings by 0.3% in the second quarter. BB&T Corp now owns 23,182 shares of the company’s stock worth $900,000 after buying an additional 70 shares in the last quarter. Advisor Group Inc. raised its stake in Cinemark Holdings by 2.3% in the second quarter. Advisor Group Inc. now owns 3,767 shares of the company’s stock valued at $145,000 after buying an additional 84 shares during the period. Smithfield Trust Co. raised its stake in Cinemark Holdings by 1.5% in the second quarter. Smithfield Trust Co. now owns 5,730 shares of the company’s stock valued at $223,000 after buying an additional 87 shares during the period. Atria Investments LLC raised its stake in Cinemark Holdings by 1.6% in the second quarter. Atria Investments LLC now owns 6,045 shares of the company’s stock valued at $235,000 after buying an additional 96 shares during the period. Finally, Utah Retirement Systems increased its position in shares of Cinemark Holdings by 0.5% in the second quarter. Utah Retirement Systems now owns 19,400 shares of the company’s stock worth $754,000 after buying an additional 100 shares in the last quarter. 89.52% of the stock is currently owned by institutional investors and hedge funds.
About Cinemark Holdings
Cinemark Holdings, Inc is engaged in the motion picture exhibition business with theatres in the United States (U.S.), Brazil, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Paraguay, Curacao and Bolivia. The Company manages its business in two segments: U.S.
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