B. Riley Analysts Give Cinemark Holdings Inc (CNK) a $47.00 Price Target
Cinemark Holdings Inc (NYSE:CNK) has been assigned a $47.00 price objective by investment analysts at B. Riley in a report released on Wednesday. The firm currently has a “buy” rating on the stock. B. Riley’s price target points to a potential upside of 32.62% from the stock’s current price.
The analysts wrote, “We are reiterating our Buy rating on GRPN and increasing our PT from $5.50 to $6.30 as we believe the new ad campaign is resonating with existing/new customers, which should drive engagement, customer adds and unit economics. With annualized North American Gross Profit (GP) per customer 12% below peak levels and International ~45% below NA levels, we believe the opportunity is in growing GP to previous peaks and potentially beyond with improved execution. While this growth will be driven by increased ad spend, the potential leverage is significant with Contribution Profit (CP) in NA inflecting +3% Y/Y in 2Q17 and in International declining -2% Y/Y (vs. -20% in 1Q17).””
A number of other brokerages also recently commented on CNK. Barrington Research cut their price objective on shares of Cinemark Holdings from $49.00 to $46.00 and set an “outperform” rating for the company in a research report on Monday, August 7th. Wedbush upped their price objective on shares of Cinemark Holdings from $43.00 to $45.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 4th. Credit Suisse Group downgraded shares of Cinemark Holdings from a “neutral” rating to an “underperform” rating and cut their price objective for the stock from $38.00 to $34.00 in a research report on Thursday, June 22nd. Morgan Stanley cut their price objective on shares of Cinemark Holdings from $43.00 to $40.00 and set an “underweight” rating for the company in a research report on Thursday, July 6th. Finally, MKM Partners restated a “buy” rating and set a $46.00 price objective on shares of Cinemark Holdings in a research report on Monday, September 18th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the stock. Cinemark Holdings presently has an average rating of “Hold” and an average target price of $42.00.
Shares of Cinemark Holdings (CNK) opened at 35.44 on Wednesday. The firm has a market cap of $4.10 billion, a price-to-earnings ratio of 15.15 and a beta of 1.10. Cinemark Holdings has a 52-week low of $32.03 and a 52-week high of $44.84. The company’s 50-day moving average is $35.29 and its 200 day moving average is $38.77.
Cinemark Holdings (NYSE:CNK) last announced its quarterly earnings data on Friday, August 4th. The company reported $0.44 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.44. The company had revenue of $751.20 million during the quarter, compared to the consensus estimate of $751.72 million. Cinemark Holdings had a net margin of 9.12% and a return on equity of 20.98%. Cinemark Holdings’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.46 EPS. On average, analysts expect that Cinemark Holdings will post $2.07 earnings per share for the current fiscal year.
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In other Cinemark Holdings news, CEO Mark Zoradi acquired 5,000 shares of the stock in a transaction that occurred on Friday, September 8th. The shares were purchased at an average cost of $32.19 per share, with a total value of $160,950.00. Following the purchase, the chief executive officer now owns 172,456 shares in the company, valued at $5,551,358.64. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 9.10% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC grew its stake in Cinemark Holdings by 17.5% in the 2nd quarter. FMR LLC now owns 11,685,034 shares of the company’s stock valued at $453,963,000 after acquiring an additional 1,742,861 shares during the last quarter. BlackRock Inc. grew its stake in Cinemark Holdings by 13,956.8% in the 1st quarter. BlackRock Inc. now owns 11,065,807 shares of the company’s stock valued at $490,657,000 after acquiring an additional 10,987,085 shares during the last quarter. Vanguard Group Inc. grew its stake in Cinemark Holdings by 4.3% in the 2nd quarter. Vanguard Group Inc. now owns 9,385,792 shares of the company’s stock valued at $364,639,000 after acquiring an additional 382,700 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Cinemark Holdings by 2.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,095,192 shares of the company’s stock valued at $236,798,000 after acquiring an additional 160,113 shares during the last quarter. Finally, Jennison Associates LLC grew its stake in Cinemark Holdings by 32.9% in the 2nd quarter. Jennison Associates LLC now owns 3,988,676 shares of the company’s stock valued at $154,960,000 after acquiring an additional 988,361 shares during the last quarter. 90.13% of the stock is currently owned by hedge funds and other institutional investors.
Cinemark Holdings 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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