B. Riley Reiterates “Buy” Rating for Cinemark (CNK)
Cinemark (NYSE:CNK)‘s stock had its “buy” rating reaffirmed by equities researchers at B. Riley in a report released on Tuesday. They presently have a $47.00 price target on the stock. B. Riley’s price objective indicates a potential upside of 34.25% from the company’s current price.
Other research analysts have also issued reports about the stock. BidaskClub lowered shares of Cinemark from a “buy” rating to a “hold” rating in a research note on Friday, August 18th. Wedbush set a $42.00 price objective on shares of Cinemark and gave the company a “buy” rating in a research note on Tuesday. Barrington Research dropped their price objective on shares of Cinemark from $49.00 to $46.00 and set an “outperform” rating on the stock in a research note on Monday, August 7th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $43.00 price objective on shares of Cinemark in a research note on Wednesday, August 9th. Finally, Piper Jaffray Companies began coverage on shares of Cinemark in a research note on Friday, August 11th. They issued an “overweight” rating and a $44.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $42.31.
Cinemark (NYSE CNK) opened at $35.01 on Tuesday. Cinemark has a 12 month low of $32.03 and a 12 month high of $44.84. The firm has a market cap of $4,240.56, a price-to-earnings ratio of 17.42, a price-to-earnings-growth ratio of 1.21 and a beta of 1.18. The company has a quick ratio of 1.46, a current ratio of 1.50 and a debt-to-equity ratio of 1.50.
Cinemark (NYSE:CNK) last released its quarterly earnings data on Friday, November 3rd. The company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.02). Cinemark had a net margin of 8.36% and a return on equity of 18.43%. The business had revenue of $710.70 million during the quarter, compared to the consensus estimate of $702.60 million. During the same period last year, the business posted $0.56 earnings per share. The firm’s quarterly revenue was down 7.5% on a year-over-year basis. equities research analysts anticipate that Cinemark will post 2 EPS for the current fiscal year.
In other news, CEO Mark Zoradi bought 5,000 shares of the stock in a transaction dated Friday, September 8th. The stock was bought at an average price of $32.19 per share, for a total transaction of $160,950.00. Following the completion of the acquisition, the chief executive officer now directly owns 172,456 shares in the company, valued at approximately $5,551,358.64. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 9.10% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. AXA increased its holdings in Cinemark by 5.4% during the third quarter. AXA now owns 531,640 shares of the company’s stock worth $19,251,000 after buying an additional 27,400 shares during the last quarter. Ameritas Investment Partners Inc. increased its holdings in Cinemark by 57.1% during the third quarter. Ameritas Investment Partners Inc. now owns 49,804 shares of the company’s stock worth $1,710,000 after buying an additional 18,100 shares during the last quarter. California Public Employees Retirement System increased its holdings in Cinemark by 0.6% during the third quarter. California Public Employees Retirement System now owns 264,939 shares of the company’s stock worth $9,593,000 after buying an additional 1,539 shares during the last quarter. Cubist Systematic Strategies LLC increased its holdings in Cinemark by 235.7% during the third quarter. Cubist Systematic Strategies LLC now owns 38,945 shares of the company’s stock worth $1,410,000 after buying an additional 27,343 shares during the last quarter. Finally, Violich Capital Management Inc. purchased a new stake in Cinemark during the third quarter worth about $257,000. Institutional investors and hedge funds own 94.63% of the company’s stock.
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Cinemark Company Profile
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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