Cinemark (CNK) Given a $42.00 Price Target by Wedbush Analysts

Wedbush set a $42.00 price objective on Cinemark (NYSE:CNK) in a report published on Tuesday morning. The brokerage currently has a buy rating on the stock.

CNK has been the subject of several other reports. Barrington Research decreased their price objective on shares of Cinemark from $49.00 to $46.00 and set an outperform rating for the company in a research report on Monday, August 7th. MKM Partners reaffirmed a buy rating and issued a $46.00 price objective on shares of Cinemark in a research report on Monday, September 18th. Credit Suisse Group decreased their price objective on shares of Cinemark from $34.00 to $30.00 and set an underperform rating for the company in a research report on Thursday, September 28th. Zacks Investment Research lowered shares of Cinemark from a hold rating to a sell rating in a research report on Thursday, October 12th. Finally, Royal Bank Of Canada decreased their price objective on shares of Cinemark from $43.00 to $40.00 and set a sector perform rating for the company in a research report on Monday, September 25th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. The stock has an average rating of Hold and an average target price of $42.31.

Cinemark (NYSE CNK) traded down $0.74 during mid-day trading on Tuesday, hitting $35.67. 1,554,400 shares of the company’s stock traded hands, compared to its average volume of 1,100,301. The stock has a market capitalization of $4,240.56, a price-to-earnings ratio of 17.42, a price-to-earnings-growth ratio of 1.21 and a beta of 1.18. Cinemark has a 1-year low of $32.03 and a 1-year high of $44.84. The company has a current ratio of 1.50, a quick ratio of 1.46 and a debt-to-equity ratio of 1.50.

Cinemark (NYSE:CNK) last released its quarterly earnings results on Friday, November 3rd. The company reported $0.33 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.02). The firm had revenue of $710.70 million for the quarter, compared to analysts’ expectations of $702.60 million. Cinemark had a net margin of 8.36% and a return on equity of 18.43%. The business’s quarterly revenue was down 7.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.56 earnings per share. sell-side analysts expect that Cinemark will post 2 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date is Thursday, November 30th. Cinemark’s dividend payout ratio is presently 54.98%.

In other Cinemark news, CEO Mark Zoradi purchased 5,000 shares of Cinemark stock in a transaction on Friday, September 8th. The stock was bought at an average cost of $32.19 per share, with a total value of $160,950.00. Following the transaction, the chief executive officer now owns 172,456 shares of the company’s stock, valued at approximately $5,551,358.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 9.10% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Victory Capital Management Inc. grew its stake in Cinemark by 15.4% in the 2nd quarter. Victory Capital Management Inc. now owns 187,598 shares of the company’s stock valued at $7,288,000 after acquiring an additional 25,083 shares during the period. Partners Value Investments LP grew its stake in Cinemark by 46.0% in the 2nd quarter. Partners Value Investments LP now owns 73,000 shares of the company’s stock valued at $2,836,000 after acquiring an additional 23,000 shares during the period. Kayne Anderson Rudnick Investment Management LLC grew its stake in Cinemark by 1.4% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,304,557 shares of the company’s stock valued at $89,532,000 after acquiring an additional 32,271 shares during the period. Swiss National Bank grew its stake in Cinemark by 4.8% in the 2nd quarter. Swiss National Bank now owns 181,200 shares of the company’s stock valued at $7,040,000 after acquiring an additional 8,300 shares during the period. Finally, Aperio Group LLC grew its stake in Cinemark by 34.2% in the 3rd quarter. Aperio Group LLC now owns 42,818 shares of the company’s stock valued at $1,550,000 after acquiring an additional 10,905 shares during the period. 94.63% of the stock is currently owned by institutional investors and hedge funds.

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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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