Zacks Research Upgrades Cinemark (NYSE:CNK) to “Strong-Buy”

Cinemark (NYSE:CNK) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Tuesday,Zacks.com reports.

Several other equities analysts have also recently issued reports on CNK. JPMorgan Chase & Co. boosted their target price on Cinemark from $35.00 to $40.00 and gave the company an “overweight” rating in a research note on Friday, July 31st. Guggenheim set a $37.00 price target on Cinemark in a research note on Thursday, July 2nd. Wedbush lifted their price target on shares of Cinemark from $40.00 to $43.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Benchmark boosted their price objective on shares of Cinemark from $37.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Finally, Roth Capital set a $40.00 price objective on shares of Cinemark in a research report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Cinemark currently has a consensus rating of “Moderate Buy” and an average target price of $38.00.

Cinemark Stock Down 0.8%

NYSE CNK opened at $37.76 on Tuesday. Cinemark has a 1 year low of $21.60 and a 1 year high of $38.98. The stock has a market capitalization of $4.38 billion, a PE ratio of 22.34 and a beta of 1.00. The company has a debt-to-equity ratio of 3.87, a current ratio of 0.84 and a quick ratio of 0.81. The business’s 50-day moving average is $32.24 and its 200 day moving average is $28.84.

Cinemark (NYSE:CNK) last released its quarterly earnings results on Thursday, July 30th. The company reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.16. Cinemark had a return on equity of 50.94% and a net margin of 6.44%.The business had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the prior year, the company posted $0.63 EPS. Cinemark’s quarterly revenue was up 15.5% compared to the same quarter last year. Sell-side analysts forecast that Cinemark will post 2.34 earnings per share for the current year.

Institutional Trading of Cinemark

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Maryland State Retirement & Pension System lifted its holdings in shares of Cinemark by 3.1% during the 4th quarter. Maryland State Retirement & Pension System now owns 15,157 shares of the company’s stock valued at $352,000 after purchasing an additional 449 shares during the last quarter. GAMMA Investing LLC grew its stake in Cinemark by 10.2% during the 2nd quarter. GAMMA Investing LLC now owns 4,982 shares of the company’s stock worth $158,000 after buying an additional 462 shares during the last quarter. Gabelli Funds LLC increased its position in Cinemark by 0.5% during the 1st quarter. Gabelli Funds LLC now owns 101,866 shares of the company’s stock valued at $2,905,000 after buying an additional 490 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in Cinemark by 118.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 935 shares of the company’s stock valued at $28,000 after buying an additional 507 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund raised its stake in Cinemark by 2.2% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 23,584 shares of the company’s stock valued at $548,000 after buying an additional 507 shares during the last quarter.

Cinemark Company Profile

Cinemark Holdings, Inc (NYSE: CNK) is a leading theatrical exhibitor that acquires, develops and operates motion picture theatres under the Cinemark® brand in the United States and Latin America. The company’s core business involves the presentation of first-run feature films coupled with an array of in‐theatre services, including concessions, premium auditoriums and loyalty programs. Cinemark’s exhibition portfolio encompasses both corporate‐owned and franchised complexes, offering moviegoers a range of experiences from standard screens to large‐format halls.

The company’s product offerings extend beyond ticket sales to include an assortment of concession items, such as popcorn, fountain beverages, candy and specialty snacks, as well as bar and lounge concepts in select locations.