Cinemark Holdings Inc (CNK) Given a $47.00 Price Target at B. Riley
“We are reiterating our Buy rating on GRPN and increasing our PT from $5.50 to $6.30 as we believe the new ad campaign is resonating with existing/new customers, which should drive engagement, customer adds and unit economics. With annualized North American Gross Profit (GP) per customer 12% below peak levels and International ~45% below NA levels, we believe the opportunity is in growing GP to previous peaks and potentially beyond with improved execution. While this growth will be driven by increased ad spend, the potential leverage is significant with Contribution Profit (CP) in NA inflecting +3% Y/Y in 2Q17 and in International declining -2% Y/Y (vs. -20% in 1Q17).”,” the firm’s analyst wrote.
A number of other equities research analysts have also recently weighed in on CNK. Credit Suisse Group cut Cinemark Holdings from a neutral rating to an underperform rating and decreased their price objective for the stock from $38.00 to $34.00 in a research note on Thursday, June 22nd. Wedbush upped their price objective on Cinemark Holdings from $43.00 to $45.00 and gave the stock a neutral rating in a research note on Tuesday, July 4th. Zacks Investment Research cut Cinemark Holdings from a hold rating to a sell rating in a research note on Tuesday, July 4th. Morgan Stanley decreased their price objective on Cinemark Holdings from $43.00 to $40.00 and set an underweight rating for the company in a research note on Thursday, July 6th. Finally, ValuEngine upgraded Cinemark Holdings from a hold rating to a buy rating in a research note on Friday, July 7th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $42.00.
Cinemark Holdings (NYSE CNK) traded up 1.39% during trading on Wednesday, hitting $35.69. The stock had a trading volume of 583,762 shares. Cinemark Holdings has a 52-week low of $32.03 and a 52-week high of $44.84. The stock’s 50-day moving average is $35.46 and its 200-day moving average is $38.63. The stock has a market capitalization of $4.13 billion, a PE ratio of 15.25 and a beta of 1.10.
Cinemark Holdings (NYSE:CNK) last issued its quarterly earnings data on Friday, August 4th. The company reported $0.44 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.44. The firm had revenue of $751.20 million during the quarter, compared to analysts’ expectations of $751.72 million. Cinemark Holdings had a return on equity of 20.98% and a net margin of 9.12%. The firm’s quarterly revenue was up .9% on a year-over-year basis. During the same period in the prior year, the business posted $0.46 EPS. On average, analysts predict that Cinemark Holdings will post $2.07 earnings per share for the current fiscal year.
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In other Cinemark Holdings news, CEO Mark Zoradi purchased 5,000 shares of the firm’s stock in a transaction on Friday, September 8th. The stock was bought at an average cost of $32.19 per share, for a total transaction of $160,950.00. Following the completion of the purchase, the chief executive officer now owns 172,456 shares in the company, valued at approximately $5,551,358.64. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 9.20% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the business. 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 last quarter. Quantbot Technologies LP purchased a new stake in Cinemark Holdings in the second quarter valued at about $146,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Cinemark Holdings by 9.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,792 shares of the company’s stock valued at $147,000 after buying an additional 330 shares during the last quarter. Advisors Asset Management Inc. raised its stake in shares of Cinemark Holdings by 224.8% in the second quarter. Advisors Asset Management Inc. now owns 4,752 shares of the company’s stock worth $185,000 after purchasing an additional 3,289 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. purchased a new position in shares of Cinemark Holdings in the first quarter worth about $213,000. Institutional investors own 90.13% of the company’s stock.
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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