Cinemark Holdings Inc (CNK) Stock Rating Lowered by Zacks Investment Research
Zacks Investment Research downgraded shares of Cinemark Holdings Inc (NYSE:CNK) from a hold rating to a sell rating in a research note released on Thursday.
According to Zacks, “CINEMARK HOLDINGS Is a leader in the motion picture exhibition industry.Cinemark operates 408 theatres and 4,657 screens in 38 states in the United States and internationally in 12 countries, mainly in Mexico, South and Central America. “
CNK has been the topic of several other reports. Barrington Research cut their target price on shares of Cinemark Holdings from $49.00 to $46.00 and set an outperform rating on the stock in a report on Monday, August 7th. Wedbush increased their target price on shares of Cinemark Holdings from $43.00 to $45.00 and gave the stock a neutral rating in a report on Tuesday, July 4th. Credit Suisse Group lowered shares of Cinemark Holdings from a neutral rating to an underperform rating and cut their target price for the stock from $38.00 to $34.00 in a report on Thursday, June 22nd. Morgan Stanley cut their target price on shares of Cinemark Holdings from $43.00 to $40.00 and set an underweight rating on the stock in a report on Thursday, July 6th. Finally, MKM Partners reiterated a buy rating and issued a $46.00 target price on shares of Cinemark Holdings in a report on Monday, September 18th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and an average price target of $42.07.
Cinemark Holdings (CNK) opened at 36.04 on Thursday. The firm has a 50 day moving average price of $35.29 and a 200 day moving average price of $38.77. Cinemark Holdings has a 12-month low of $32.03 and a 12-month high of $44.84. The company has a market cap of $4.17 billion, a PE ratio of 15.40 and a beta of 1.10.
Cinemark Holdings (NYSE:CNK) last announced its quarterly earnings data on Friday, August 4th. The company reported $0.44 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.44. Cinemark Holdings had a net margin of 9.12% and a return on equity of 20.98%. The business had revenue of $751.20 million for the quarter, compared to analyst estimates of $751.72 million. During the same period in the prior year, the business posted $0.46 earnings per share. Cinemark Holdings’s revenue was up .9% compared to the same quarter last year. On average, analysts anticipate that Cinemark Holdings will post $2.07 earnings per share for the current fiscal year.
In other Cinemark Holdings news, CEO Mark Zoradi bought 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The stock was acquired at an average price of $32.83 per share, with a total value of $164,150.00. Following the completion of the transaction, the chief executive officer now owns 167,456 shares in the company, valued at $5,497,580.48. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 9.10% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Advisor Group Inc. grew its position 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 purchasing an additional 84 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of Cinemark Holdings in the 2nd quarter valued at about $146,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Cinemark Holdings by 9.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,792 shares of the company’s stock valued at $147,000 after acquiring an additional 330 shares during the period. Advisors Asset Management Inc. grew its position in shares of Cinemark Holdings by 224.8% in the 2nd quarter. Advisors Asset Management Inc. now owns 4,752 shares of the company’s stock valued at $185,000 after acquiring an additional 3,289 shares during the period. Finally, Oppenheimer Asset Management Inc. bought a new position in shares of Cinemark Holdings in the 1st quarter valued at about $213,000. 90.13% of the stock is 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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