Cinemark (CNK) Price Target Raised to $45.00 at Royal Bank of Canada

Cinemark (NYSE:CNK) had its price target raised by Royal Bank of Canada from $43.00 to $45.00 in a research report sent to investors on Monday morning. Royal Bank of Canada currently has an outperform rating on the stock.

Other research analysts have also recently issued reports about the stock. Morgan Stanley lowered their target price on shares of Cinemark from $42.00 to $39.00 and set a $34.56 rating on the stock in a report on Monday, July 23rd. Zacks Investment Research raised shares of Cinemark from a hold rating to a buy rating and set a $41.00 target price on the stock in a report on Wednesday, July 11th. Wedbush set a $43.00 target price on shares of Cinemark and gave the stock a buy rating in a report on Wednesday, August 8th. B. Riley reaffirmed a buy rating on shares of Cinemark in a report on Monday, August 6th. Finally, Barrington Research reaffirmed a buy rating and set a $47.00 target price on shares of Cinemark in a report on Monday, August 13th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Cinemark has a consensus rating of Buy and an average price target of $43.70.

Shares of CNK traded down $0.42 during mid-day trading on Monday, hitting $41.50. 5,115 shares of the company’s stock were exchanged, compared to its average volume of 1,666,859. Cinemark has a 52 week low of $32.60 and a 52 week high of $44.00. The stock has a market capitalization of $4.94 billion, a PE ratio of 18.34, a P/E/G ratio of 1.40 and a beta of 0.80. The company has a current ratio of 1.24, a quick ratio of 1.39 and a debt-to-equity ratio of 1.36.

Cinemark (NYSE:CNK) last announced its earnings results on Friday, November 2nd. The company reported $0.43 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.09. Cinemark had a net margin of 9.12% and a return on equity of 19.92%. The company had revenue of $754.20 million for the quarter, compared to analysts’ expectations of $730.27 million. During the same period last year, the firm earned $0.33 earnings per share. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. Equities research analysts predict that Cinemark will post 2.05 earnings per share for the current fiscal year.

A number of large investors have recently made changes to their positions in the stock. Xact Kapitalforvaltning AB increased its stake in Cinemark by 8.0% in the third quarter. Xact Kapitalforvaltning AB now owns 17,632 shares of the company’s stock valued at $709,000 after acquiring an additional 1,300 shares during the last quarter. Atria Investments LLC increased its stake in Cinemark by 12.4% in the third quarter. Atria Investments LLC now owns 12,889 shares of the company’s stock valued at $518,000 after acquiring an additional 1,423 shares during the last quarter. Arizona State Retirement System increased its stake in Cinemark by 2.3% in the third quarter. Arizona State Retirement System now owns 75,488 shares of the company’s stock valued at $3,035,000 after acquiring an additional 1,708 shares during the last quarter. Bruderman Asset Management LLC increased its stake in Cinemark by 76.6% in the second quarter. Bruderman Asset Management LLC now owns 4,000 shares of the company’s stock valued at $140,000 after acquiring an additional 1,735 shares during the last quarter. Finally, Alpine Woods Capital Investors LLC increased its stake in Cinemark by 5.9% in the second quarter. Alpine Woods Capital Investors LLC now owns 36,000 shares of the company’s stock valued at $1,263,000 after acquiring an additional 2,000 shares during the last quarter. 99.23% of the stock is currently owned by institutional investors and hedge funds.

About Cinemark

Cinemark Holdings, Inc, together with its subsidiaries, engages in the motion picture exhibition business. It operates theatres in the United States, Brazil, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Bolivia, Curacao, and Paraguay. As of June 30, 2018, the company operated 539 theatres and 5,998 screens.

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Analyst Recommendations for Cinemark (NYSE:CNK)

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