Cinemark (CNK) Rating Increased to Outperform at Royal Bank of Canada
Cinemark (NYSE:CNK) was upgraded by stock analysts at Royal Bank of Canada from a “sector perform” rating to an “outperform” rating in a report released on Wednesday.
A number of other research analysts have also recently weighed in on the stock. B. Riley reaffirmed a “buy” rating and issued a $47.00 price objective on shares of Cinemark in a report on Tuesday, December 5th. Wedbush set a $42.00 target price on shares of Cinemark and gave the stock a “buy” rating in a research note on Tuesday, December 5th. Zacks Investment Research raised shares of Cinemark from a “sell” rating to a “hold” rating in a research note on Wednesday, November 8th. Morgan Stanley raised shares of Cinemark from an “underweight” rating to an “equal weight” rating and set a $38.00 target price for the company in a research note on Thursday, October 5th. Finally, MKM Partners reissued a “buy” rating and set a $46.00 target price on shares of Cinemark in a research note on Monday, September 18th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $42.00.
Cinemark (NYSE CNK) opened at $33.91 on Wednesday. Cinemark has a fifty-two week low of $32.03 and a fifty-two week high of $44.84. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.50 and a quick ratio of 1.46. The firm has a market cap of $3,910.00, a price-to-earnings ratio of 16.07, a price-to-earnings-growth ratio of 1.04 and a beta of 1.18.
Cinemark (NYSE:CNK) last released its quarterly earnings data on Friday, November 3rd. The company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.02). Cinemark had a net margin of 8.36% and a return on equity of 18.43%. The firm had revenue of $710.70 million during the quarter, compared to analysts’ expectations of $702.60 million. During the same period in the previous year, the firm posted $0.56 EPS. The firm’s quarterly revenue was down 7.5% on a year-over-year basis. equities research analysts expect that Cinemark will post 1.97 EPS for the current fiscal year.
In related news, Director Lee Roy Mitchell sold 174,607 shares of the company’s stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $36.72, for a total transaction of $6,411,569.04. Following the completion of the sale, 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 filing with the SEC, which can be accessed through this hyperlink. Also, EVP Tom Owens sold 9,213 shares of the company’s stock in a transaction dated Wednesday, December 20th. The shares were sold at an average price of $36.00, for a total transaction of $331,668.00. Following the sale, the executive vice president now directly owns 42,722 shares of the company’s stock, valued at approximately $1,537,992. The disclosure for this sale can be found here. Insiders have sold 483,820 shares of company stock valued at $17,672,093 in the last three months. Corporate insiders own 9.10% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in CNK. Cable Hill Partners LLC grew its stake in Cinemark by 3,300.0% during the 3rd quarter. Cable Hill Partners LLC now owns 2,958 shares of the company’s stock valued at $107,000 after acquiring an additional 2,871 shares in the last quarter. Ffcm LLC purchased a new stake in Cinemark during the 3rd quarter valued at about $125,000. Zions Bancorporation purchased a new stake in Cinemark during the 3rd quarter valued at about $125,000. Advisor Group Inc. grew its stake in Cinemark by 2.3% during the 2nd quarter. Advisor Group Inc. now owns 3,767 shares of the company’s stock valued at $145,000 after acquiring an additional 84 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new stake in Cinemark during the 2nd quarter valued at about $146,000. 94.62% of the stock is owned by institutional investors.
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Cinemark Company Profile
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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