Cinemark (NYSE:CNK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Monday, Zacks.com reports. The firm currently has a $43.00 target price on the stock. Zacks Investment Research‘s target price points to a potential upside of 11.28% from the company’s current price.
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. “
A number of other equities research analysts also recently issued reports on the company. MKM Partners decreased their price objective on Cinemark from $45.00 to $43.00 and set a “buy” rating on the stock in a research report on Tuesday, September 10th. Wedbush restated a “buy” rating and set a $49.00 price objective on shares of Cinemark in a research report on Friday, August 2nd. Loop Capital upgraded Cinemark from a “hold” rating to a “buy” rating and set a $44.00 price objective on the stock in a research report on Wednesday, July 3rd. ValuEngine upgraded Cinemark from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Finally, Credit Suisse Group initiated coverage on Cinemark in a research report on Friday, July 19th. They set an “outperform” rating and a $43.00 price objective on the stock. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Cinemark currently has an average rating of “Buy” and an average price target of $44.00.
CNK stock traded up $0.29 during midday trading on Monday, reaching $38.64. 1,015,473 shares of the company traded hands, compared to its average volume of 1,112,203. Cinemark has a 52-week low of $34.49 and a 52-week high of $43.51. The company has a debt-to-equity ratio of 2.08, a quick ratio of 0.92 and a current ratio of 0.95. The business has a 50 day moving average of $38.26 and a 200-day moving average of $39.00. The firm has a market capitalization of $4.53 billion, a price-to-earnings ratio of 21.11, a P/E/G ratio of 1.10 and a beta of 0.70.
Cinemark (NYSE:CNK) last issued its quarterly earnings data on Friday, August 2nd. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.06. Cinemark had a return on equity of 13.75% and a net margin of 6.31%. The business had revenue of $957.76 million for the quarter, compared to the consensus estimate of $906.57 million. Research analysts anticipate that Cinemark will post 2.34 earnings per share for the current year.
In other news, CFO Sean Gamble sold 5,669 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $41.50, for a total value of $235,263.50. Following the sale, the chief financial officer now directly owns 126,025 shares in the company, valued at $5,230,037.50. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 9.00% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Mesirow Financial Investment Management Equity Management purchased a new stake in shares of Cinemark in the second quarter worth approximately $49,000. Marshall Wace LLP purchased a new stake in shares of Cinemark in the first quarter worth approximately $65,000. Cutler Group LP purchased a new stake in shares of Cinemark in the first quarter worth approximately $115,000. Asset Management One Co. Ltd. increased its holdings in Cinemark by 20.0% during the 2nd quarter. Asset Management One Co. Ltd. now owns 4,295 shares of the company’s stock worth $155,000 after purchasing an additional 716 shares during the period. Finally, Machina Capital S.A.S. increased its holdings in Cinemark by 569.4% during the 2nd quarter. Machina Capital S.A.S. now owns 4,686 shares of the company’s stock worth $169,000 after purchasing an additional 3,986 shares during the period. Hedge funds and other institutional investors own 99.84% of the company’s stock.
Cinemark Holdings, Inc, together with its subsidiaries, engages in the motion picture exhibition business. As of December 31, 2018, it operated 341 theatres and 4,586 screens in 41 states of the United States; and 205 theatres and 1,462 screens in Brazil, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Bolivia, Curacao, and Paraguay.
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