Cinemark Holdings Inc (CNK) Cut to “Sell” at Zacks Investment Research
Zacks Investment Research lowered shares of Cinemark Holdings Inc (NYSE:CNK) from a hold rating to a sell rating in a report published on Thursday morning.
According to Zacks, “CINEMARK HOLDINGS Is a leader in the motion picture exhibition industry.Cinemark operates 408 theatres and 4,657 screens in 38 states in the United States and internationally in 12 countries, mainly in Mexico, South and Central America. “
Several other brokerages have also issued reports on CNK. Credit Suisse Group lowered shares of Cinemark Holdings from a neutral rating to an underperform rating and reduced their price objective for the company from $38.00 to $34.00 in a report on Thursday, June 22nd. B. Riley restated a buy rating and issued a $51.00 price objective on shares of Cinemark Holdings in a report on Monday, July 31st. Barrington Research cut their price target on shares of Cinemark Holdings from $49.00 to $46.00 and set an outperform rating on the stock in a research note on Monday, August 7th. Wedbush reiterated a buy rating on shares of Cinemark Holdings in a research note on Monday, August 7th. Finally, ValuEngine lowered shares of Cinemark Holdings from a buy rating to a hold rating in a research note on Monday, July 24th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $42.07.
Cinemark Holdings (NYSE CNK) opened at 36.04 on Thursday. The company has a market capitalization of $4.17 billion, a PE ratio of 15.40 and a beta of 1.10. The stock has a 50 day moving average of $35.29 and a 200-day moving average of $38.81. Cinemark Holdings has a 12-month low of $32.03 and a 12-month high of $44.84.
Cinemark Holdings (NYSE:CNK) last issued its quarterly earnings data on Friday, August 4th. The company reported $0.44 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.44. The firm had revenue of $751.20 million for the quarter, compared to analyst estimates of $751.72 million. Cinemark Holdings had a net margin of 9.12% and a return on equity of 20.98%. Cinemark Holdings’s revenue was up .9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.46 EPS. Equities analysts expect that Cinemark Holdings will post $2.07 earnings per share for the current year.
In related news, CEO Mark Zoradi acquired 5,000 shares of the stock in a transaction dated Friday, September 8th. The stock was acquired at an average cost of $32.19 per share, with a total value of $160,950.00. Following the completion of the transaction, the chief executive officer now owns 172,456 shares in the company, valued at approximately $5,551,358.64. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 9.20% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. Lord Abbett & CO. LLC acquired a new position in shares of Cinemark Holdings during the second quarter worth about $8,856,000. Public Employees Retirement System of Ohio grew its position in shares of Cinemark Holdings by 1.2% during the second quarter. Public Employees Retirement System of Ohio now owns 54,219 shares of the company’s stock worth $2,106,000 after buying an additional 626 shares in the last quarter. Kalos Management Inc. grew its position in shares of Cinemark Holdings by 2.2% during the second quarter. Kalos Management Inc. now owns 59,613 shares of the company’s stock worth $2,315,000 after buying an additional 1,281 shares in the last quarter. Ameritas Investment Partners Inc. grew its position in shares of Cinemark Holdings by 1.7% during the second quarter. Ameritas Investment Partners Inc. now owns 31,704 shares of the company’s stock worth $1,232,000 after buying an additional 530 shares in the last quarter. Finally, Nomura Holdings Inc. acquired a new position in shares of Cinemark Holdings during the second quarter worth about $641,000. 90.13% of the stock is owned by institutional investors and hedge funds.
About Cinemark Holdings
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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