Cinemark (NYSE:CNK) Stock Moved Up to “Strong-Buy” by Zacks Research

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

A number of other research firms have also issued reports on CNK. Morgan Stanley cut their price target on shares of Cinemark from $42.00 to $40.00 and set an “equal weight” rating on the stock in a report on Thursday, September 24th. Moffett Nathanson reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Cinemark in a research note on Thursday, July 30th. The Goldman Sachs Group raised shares of Cinemark from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $23.00 to $30.00 in a research note on Wednesday, July 8th. JPMorgan Chase & Co. cut shares of Cinemark from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $40.00 to $39.00 in a research report on Friday, August 14th. Finally, Benchmark boosted their target price on shares of Cinemark from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, July 31st. One equities research 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 company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $37.93.

Cinemark Price Performance

CNK stock opened at $38.15 on Tuesday. The company has a current ratio of 0.84, a quick ratio of 0.81 and a debt-to-equity ratio of 3.87. Cinemark has a one year low of $21.60 and a one year high of $39.07. The firm has a market capitalization of $4.42 billion, a PE ratio of 22.45 and a beta of 1.03. The firm has a 50-day moving average of $36.38 and a two-hundred day moving average of $32.54.

Cinemark (NYSE:CNK) last announced its earnings results on Thursday, July 30th. The company reported $1.19 EPS for the quarter, topping the consensus estimate of $1.03 by $0.16. The company had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Cinemark had a net margin of 6.44% and a return on equity of 50.94%. The business’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same period last year, the company posted $0.63 earnings per share. On average, analysts forecast that Cinemark will post 2.49 earnings per share for the current year.

Hedge Funds Weigh In On Cinemark

Institutional investors and hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC increased its holdings in shares of Cinemark by 7.8% in the 3rd quarter. GAMMA Investing LLC now owns 5,371 shares of the company’s stock valued at $200,000 after purchasing an additional 389 shares during the period. Sequoia Financial Advisors LLC purchased a new stake in shares of Cinemark in the second quarter worth approximately $2,477,000. WINTON GROUP Ltd boosted its holdings in shares of Cinemark by 637.5% during the second quarter. WINTON GROUP Ltd now owns 117,527 shares of the company’s stock worth $3,729,000 after purchasing an additional 101,592 shares during the period. Engineers Gate Manager LP acquired a new stake in shares of Cinemark during the second quarter worth approximately $3,671,000. Finally, Integrated Wealth Concepts LLC acquired a new stake in shares of Cinemark during the second quarter worth approximately $60,000.

About Cinemark

Cinemark Holdings, Inc is a motion picture exhibition company that operates movie theaters in the United States and Latin America. Through its Cinemark and other regional theater brands, the company shows first-run films and provides audiences with large-format entertainment experiences.

Cinemark’s services include movie ticketing, food and beverage concessions, premium seating, and enhanced presentation formats such as its XD auditoriums. The company also offers customer loyalty programs, advertising opportunities, private theater rentals, and other event-based entertainment services.

Founded in 1987 by Lee Roy Mitchell, Cinemark is headquartered in Plano, Texas.