Piper Jaffray Companies Initiates Coverage on Cinemark Holdings Inc (NYSE:CNK)
Stock analysts at Piper Jaffray Companies assumed coverage on shares of Cinemark Holdings Inc (NYSE:CNK) in a research report issued on Friday. The brokerage set a “buy” rating and a $44.00 price target on the stock. Piper Jaffray Companies’ target price indicates a potential upside of 19.50% from the company’s previous close.
Several other research analysts have also commented on the company. Credit Suisse Group lowered Cinemark Holdings from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $38.00 to $34.00 in a research report on Thursday, June 22nd. Zacks Investment Research lowered Cinemark Holdings from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Moffett Nathanson lowered Cinemark Holdings from a “neutral” rating to a “sell” rating and set a $33.00 price target for the company. in a research report on Monday, June 12th. Royal Bank Of Canada lifted their price target on Cinemark Holdings from $45.00 to $47.00 and gave the stock a “sector perform” rating in a research report on Monday, April 17th. Finally, MKM Partners restated a “buy” rating and set a $50.00 target price (up previously from $48.00) on shares of Cinemark Holdings in a research report on Wednesday, April 26th. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $43.14.
Shares of Cinemark Holdings (NYSE:CNK) opened at 36.82 on Friday. Cinemark Holdings has a 1-year low of $36.79 and a 1-year high of $44.84. The stock has a 50 day moving average price of $38.26 and a 200-day moving average price of $41.23. The company has a market cap of $4.26 billion, a price-to-earnings ratio of 15.74 and a beta of 1.03.
Cinemark Holdings (NYSE:CNK) last released its quarterly earnings results on Friday, August 4th. The company reported $0.44 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.44. The company had revenue of $751.20 million during the quarter, compared to analyst estimates of $751.72 million. Cinemark Holdings had a return on equity of 20.98% and a net margin of 9.12%. The firm’s revenue was up .9% on a year-over-year basis. During the same quarter last year, the business posted $0.46 earnings per share. Equities research analysts forecast that Cinemark Holdings will post $2.16 earnings per share for the current year.
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Several hedge funds have recently bought and sold shares of CNK. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Cinemark Holdings by 9.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,792 shares of the company’s stock valued at $147,000 after buying an additional 330 shares in the last quarter. Advisors Asset Management Inc. increased its stake in Cinemark Holdings by 224.8% in the second quarter. Advisors Asset Management Inc. now owns 4,752 shares of the company’s stock valued at $185,000 after buying an additional 3,289 shares in the last quarter. Vident Investment Advisory LLC bought a new stake in Cinemark Holdings during the first quarter valued at $200,000. Welch & Forbes LLC bought a new stake in Cinemark Holdings during the first quarter valued at $210,000. Finally, Oppenheimer Asset Management Inc. bought a new stake in Cinemark Holdings during the first quarter valued at $213,000. 88.96% of the stock is 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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