Cinemark Holdings, Inc. (NYSE:CNK) had its target price hoisted by Royal Bank of Canada from $45.00 to $47.00 in a research report released on Monday, April 17th. They currently have a sector perform rating on the stock.
CNK has been the topic of several other research reports. B. Riley reiterated a buy rating and issued a $52.50 price target on shares of Cinemark Holdings in a report on Wednesday, February 22nd. FBR & Co lowered Cinemark Holdings from an outperform rating to a market perform rating and set a $46.00 price target on the stock. in a report on Monday, April 3rd. Wedbush reissued a neutral rating and issued a $45.00 price objective (up from $43.00) on shares of Cinemark Holdings in a research note on Friday, April 7th. Wunderlich downgraded Cinemark Holdings from a buy rating to a hold rating and set a $47.00 price objective for the company. in a research note on Wednesday, March 22nd. Finally, Goldman Sachs Group Inc downgraded Cinemark Holdings from a conviction-buy rating to a buy rating and set a $49.00 price objective for the company. in a research note on Monday, April 10th. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $45.13.
Cinemark Holdings (NYSE:CNK) traded down 0.25% during mid-day trading on Monday, reaching $43.10. The company’s stock had a trading volume of 552,204 shares. Cinemark Holdings has a 12 month low of $32.60 and a 12 month high of $44.84. The company has a market cap of $4.99 billion, a price-to-earnings ratio of 18.19 and a beta of 0.97. The stock’s 50 day moving average is $43.28 and its 200 day moving average is $41.49.
Cinemark Holdings (NYSE:CNK) last announced its quarterly earnings results on Wednesday, May 3rd. The company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.07. The business had revenue of $779.60 million for the quarter, compared to analyst estimates of $750.75 million. Cinemark Holdings had a return on equity of 20.75% and a net margin of 8.06%. The company’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.50 earnings per share. Equities research analysts predict that Cinemark Holdings will post $2.38 EPS for the current year.
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In related news, EVP Tom Owens sold 8,475 shares of Cinemark Holdings stock in a transaction on Monday, March 13th. The stock was sold at an average price of $44.00, for a total transaction of $372,900.00. Following the completion of the sale, the executive vice president now owns 54,720 shares of the company’s stock, valued at $2,407,680. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Michael Cavalier sold 20,609 shares of Cinemark Holdings stock in a transaction on Thursday, March 16th. The shares were sold at an average price of $44.01, for a total value of $907,002.09. Following the sale, the executive vice president now directly owns 152,562 shares of the company’s stock, valued at approximately $6,714,253.62. The disclosure for this sale can be found here. Insiders have sold 42,139 shares of company stock valued at $1,854,714 in the last three months. 9.20% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Parallel Advisors LLC bought a new position in Cinemark Holdings during the fourth quarter valued at approximately $275,000. Rhumbline Advisers increased its position in Cinemark Holdings by 3.3% in the third quarter. Rhumbline Advisers now owns 194,978 shares of the company’s stock valued at $7,464,000 after buying an additional 6,194 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. increased its position in Cinemark Holdings by 43.7% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,195 shares of the company’s stock valued at $123,000 after buying an additional 972 shares in the last quarter. Manning & Napier Advisors LLC bought a new position in Cinemark Holdings during the third quarter valued at approximately $2,485,000. Finally, River Road Asset Management LLC increased its position in Cinemark Holdings by 1.5% in the third quarter. River Road Asset Management LLC now owns 1,994,754 shares of the company’s stock valued at $76,359,000 after buying an additional 28,610 shares in the last quarter. Hedge funds and other institutional investors own 90.73% of the company’s stock.
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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