Zacks Investment Research upgraded shares of Cinemark Holdings Inc (NYSE:CNK) from a sell rating to a hold rating in a research note published on Wednesday morning.
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. “
CNK has been the topic of several other reports. Credit Suisse Group dropped their price objective on shares of Cinemark Holdings from $34.00 to $30.00 and set an underperform rating on the stock in a report on Thursday, September 28th. Royal Bank Of Canada set a $43.00 price target on shares of Cinemark Holdings and gave the stock a hold rating in a report on Sunday, September 10th. Morgan Stanley raised shares of Cinemark Holdings from an underweight rating to an equal weight rating and set a $38.00 price target on the stock in a report on Thursday, October 5th. Wedbush reissued an outperform rating and set a $44.00 price target on shares of Cinemark Holdings in a report on Thursday, October 5th. Finally, J P Morgan Chase & Co lowered their price target on shares of Cinemark Holdings from $47.00 to $42.00 in a report on Tuesday, August 22nd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $41.85.
Shares of Cinemark Holdings (NYSE:CNK) traded up $0.28 during midday trading on Wednesday, hitting $33.90. The stock had a trading volume of 974,806 shares, compared to its average volume of 1,078,614. The company has a market capitalization of $3,920.00, a price-to-earnings ratio of 16.23, a P/E/G ratio of 1.12 and a beta of 1.18. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.48 and a current ratio of 1.50. Cinemark Holdings has a one year low of $32.03 and a one year high of $44.84.
Cinemark Holdings (NYSE:CNK) last released its quarterly earnings data on Friday, November 3rd. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.02). The business had revenue of $710.70 million during the quarter, compared to analysts’ expectations of $702.60 million. Cinemark Holdings had a net margin of 8.36% and a return on equity of 18.43%. The firm’s revenue was down 7.5% on a year-over-year basis. During the same period last year, the company earned $0.56 earnings per share. research analysts predict that Cinemark Holdings will post 2.02 earnings per share for the current fiscal year.
In related news, CEO Mark Zoradi acquired 5,000 shares of the firm’s stock in a transaction on Friday, September 8th. The shares were acquired at an average cost of $32.19 per share, with a total value 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 9.20% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC raised its position in shares of Cinemark Holdings by 17.5% in the second quarter. FMR LLC now owns 11,685,034 shares of the company’s stock valued at $453,963,000 after buying an additional 1,742,861 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Cinemark Holdings by 4.3% in the second quarter. Vanguard Group Inc. now owns 9,385,792 shares of the company’s stock valued at $364,639,000 after buying an additional 382,700 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Cinemark Holdings by 2.7% in the second quarter. JPMorgan Chase & Co. now owns 6,095,192 shares of the company’s stock valued at $236,798,000 after buying an additional 160,113 shares during the last quarter. Jennison Associates LLC raised its position in shares of Cinemark Holdings by 1.5% in the third quarter. Jennison Associates LLC now owns 4,049,006 shares of the company’s stock valued at $146,615,000 after buying an additional 60,330 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of Cinemark Holdings by 1,771.5% in the third quarter. Victory Capital Management Inc. now owns 3,510,900 shares of the company’s stock valued at $127,129,000 after buying an additional 3,323,302 shares during the last quarter. Institutional investors and hedge funds own 92.62% 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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