Cinemark (CNK) PT Set at $42.00 by Wedbush
Cinemark (NYSE:CNK) received a $42.00 price objective from research analysts at Wedbush in a research report issued to clients and investors on Tuesday. The brokerage currently has a “buy” rating on the stock. Wedbush’s target price points to a potential upside of 19.97% from the stock’s previous close.
Several other brokerages have also recently issued reports on CNK. Barrington Research reduced their target price on shares of Cinemark from $49.00 to $46.00 and set an “outperform” rating for the company in a report on Monday, August 7th. MKM Partners reissued a “buy” rating and set a $46.00 target price on shares of Cinemark in a report on Monday, September 18th. Credit Suisse Group reduced their target price on shares of Cinemark from $34.00 to $30.00 and set an “underperform” rating for the company in a report on Thursday, September 28th. Zacks Investment Research cut shares of Cinemark from a “hold” rating to a “sell” rating in a report on Thursday, October 12th. Finally, Royal Bank Of Canada reduced their target price on shares of Cinemark from $43.00 to $40.00 and set a “sector perform” rating for the company in a report on Monday, September 25th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. Cinemark currently has an average rating of “Hold” and a consensus price target of $42.31.
Shares of Cinemark (NYSE:CNK) opened at $35.01 on Tuesday. Cinemark has a one year low of $32.03 and a one year 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. The company has a market cap of $4,154.37, a price-to-earnings ratio of 17.07, a PEG ratio of 1.19 and a beta of 1.18.
Cinemark (NYSE:CNK) last issued its earnings results on Friday, November 3rd. The company reported $0.33 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.02). Cinemark had a return on equity of 18.43% and a net margin of 8.36%. The business had revenue of $710.70 million for the quarter, compared to analysts’ expectations of $702.60 million. During the same period last year, the business earned $0.56 EPS. The company’s revenue for the quarter was down 7.5% on a year-over-year basis. research analysts predict that Cinemark will post 2 EPS for the current fiscal year.
In other news, CEO Mark Zoradi acquired 5,000 shares of the business’s stock in a transaction on Friday, September 8th. The stock was bought at an average price of $32.19 per share, with a total value of $160,950.00. Following the completion of the acquisition, the chief executive officer now owns 172,456 shares of the company’s stock, valued at $5,551,358.64. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 9.20% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in CNK. Cable Hill Partners LLC increased its stake in shares of Cinemark by 3,300.0% during the third quarter. Cable Hill Partners LLC now owns 2,958 shares of the company’s stock worth $107,000 after purchasing an additional 2,871 shares in the last quarter. Ffcm LLC purchased a new stake in shares of Cinemark during the third quarter worth about $125,000. Zions Bancorporation purchased a new stake in shares of Cinemark during the third quarter worth about $125,000. Advisor Group Inc. increased its stake in shares of Cinemark by 2.3% during the second quarter. Advisor Group Inc. now owns 3,767 shares of the company’s stock worth $145,000 after purchasing an additional 84 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new stake in shares of Cinemark during the second quarter worth about $146,000. 94.63% of the stock is owned by institutional investors.
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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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