Cinemark (CNK) Given a $38.00 Price Target by Wedbush Analysts
Wedbush set a $38.00 target price on Cinemark (NYSE:CNK) in a report published on Monday. The brokerage currently has a buy rating on the stock. Wedbush also issued estimates for Cinemark’s Q4 2017 earnings at $0.43 EPS, FY2017 earnings at $1.89 EPS, Q1 2018 earnings at $0.69 EPS, Q2 2018 earnings at $0.66 EPS, Q4 2018 earnings at $0.52 EPS and FY2018 earnings at $2.37 EPS.
CNK has been the topic of several other reports. Credit Suisse Group dropped their price target on Cinemark from $34.00 to $30.00 and set an underperform rating on the stock in a research report on Thursday, September 28th. Royal Bank of Canada set a $43.00 target price on Cinemark and gave the stock a hold rating in a research report on Sunday, September 10th. Morgan Stanley raised Cinemark from an underweight rating to an equal weight rating and set a $38.00 target price on the stock in a research report on Thursday, October 5th. Zacks Investment Research lowered Cinemark from a hold rating to a sell rating in a research report on Thursday, October 12th. Finally, MKM Partners reaffirmed a buy rating and issued a $46.00 target price on shares of Cinemark in a research report on Monday, September 18th. Two analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $42.00.
Cinemark (CNK) opened at $34.83 on Monday. The firm has a market capitalization of $4,060.00, a price-to-earnings ratio of 16.51, a P/E/G ratio of 1.04 and a beta of 1.18. Cinemark has a 52-week low of $32.03 and a 52-week high of $44.84. The company has a current ratio of 1.50, a quick ratio of 1.46 and a debt-to-equity ratio of 1.50.
Cinemark (NYSE:CNK) last posted its quarterly earnings results on Friday, November 3rd. The company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.02). The business had revenue of $710.70 million for the quarter, compared to analyst estimates of $702.60 million. Cinemark had a net margin of 8.36% and a return on equity of 18.43%. The firm’s quarterly revenue was down 7.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.56 earnings per share. equities analysts predict that Cinemark will post 1.97 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Friday, December 1st were given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 3.33%. The ex-dividend date of this dividend was Thursday, November 30th. Cinemark’s payout ratio is currently 54.98%.
In other news, Director Lee Roy Mitchell sold 174,607 shares of the stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $36.72, for a total transaction of $6,411,569.04. Following the transaction, the director now owns 5,528,843 shares of the company’s stock, valued at approximately $203,019,114.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Tom Owens sold 9,213 shares of the stock in a transaction dated Wednesday, December 20th. The shares were sold at an average price of $36.00, for a total value of $331,668.00. Following the transaction, the executive vice president now directly owns 42,722 shares in the company, valued at approximately $1,537,992. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 483,820 shares of company stock worth $17,672,093. Insiders own 9.10% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Jane Street Group LLC acquired a new position in shares of Cinemark during the 3rd quarter valued at about $454,000. Jupiter Asset Management Ltd. increased its holdings in shares of Cinemark by 11.1% during the 3rd quarter. Jupiter Asset Management Ltd. now owns 299,841 shares of the company’s stock valued at $10,857,000 after acquiring an additional 30,000 shares during the last quarter. Aperio Group LLC increased its holdings in shares of Cinemark by 34.2% during the 3rd quarter. Aperio Group LLC now owns 42,818 shares of the company’s stock valued at $1,550,000 after acquiring an additional 10,905 shares during the last quarter. Swiss National Bank boosted its stake in Cinemark by 4.8% during the 2nd quarter. Swiss National Bank now owns 181,200 shares of the company’s stock valued at $7,040,000 after purchasing an additional 8,300 shares during the period. Finally, Macquarie Group Ltd. boosted its stake in Cinemark by 7.3% during the 2nd quarter. Macquarie Group Ltd. now owns 1,650,767 shares of the company’s stock valued at $64,132,000 after purchasing an additional 112,720 shares during the period. 94.62% of the stock is currently owned by institutional investors and hedge funds.
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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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