Cinemark (NYSE:CNK) has been assigned a $38.00 target price by analysts at Wedbush in a note issued to investors on Monday. The brokerage currently has a “buy” rating on the stock. Wedbush’s target price would indicate a potential upside of 10.56% from the stock’s current price. Wedbush also issued estimates for Cinemark’s Q4 2017 earnings at $0.43 EPS, FY2017 earnings at $1.89 EPS, Q1 2018 earnings at $0.69 EPS, Q2 2018 earnings at $0.66 EPS, Q4 2018 earnings at $0.52 EPS and FY2018 earnings at $2.37 EPS.
Other equities analysts have also issued reports about the company. B. Riley reissued a “buy” rating and set a $47.00 price target on shares of Cinemark in a research report on Tuesday, December 5th. MKM Partners reaffirmed a “buy” rating and issued a $46.00 target price on shares of Cinemark in a research report on Monday, September 18th. Piper Jaffray Companies reaffirmed a “buy” rating on shares of Cinemark in a research report on Sunday, September 17th. Morgan Stanley raised Cinemark from an “underweight” rating to an “equal weight” rating and set a $38.00 target price on the stock in a research report on Thursday, October 5th. Finally, Zacks Investment Research upgraded Cinemark from a “sell” rating to a “hold” rating in a report on Monday, September 11th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $42.00.
Cinemark (CNK) traded up $0.46 during trading on Monday, reaching $34.37. The company had a trading volume of 742,522 shares, compared to its average volume of 1,250,000. The firm has a market cap of $4,000.00, a price-to-earnings ratio of 16.29, a PEG ratio of 1.04 and a beta of 1.18. The company has a quick ratio of 1.46, a current ratio of 1.50 and a debt-to-equity ratio of 1.50. Cinemark has a 12-month low of $32.03 and a 12-month high of $44.84.
In other Cinemark news, EVP Tom Owens sold 9,213 shares of the stock in a transaction dated Wednesday, December 20th. The stock was sold at an average price of $36.00, for a total transaction of $331,668.00. Following the completion of the sale, the executive vice president now directly owns 42,722 shares in the company, valued at approximately $1,537,992. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Lee Roy Mitchell sold 174,607 shares of the stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $36.72, for a total value of $6,411,569.04. Following the sale, the director now owns 5,528,843 shares of the company’s stock, valued at $203,019,114.96. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 483,820 shares of company stock worth $17,672,093. Corporate insiders own 9.10% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in CNK. Cable Hill Partners LLC lifted its position in Cinemark by 3,300.0% in the 3rd quarter. Cable Hill Partners LLC now owns 2,958 shares of the company’s stock valued at $107,000 after acquiring an additional 2,871 shares in the last quarter. Ffcm LLC bought a new position in Cinemark in the 3rd quarter valued at about $125,000. Zions Bancorporation bought a new position in Cinemark in the 3rd quarter valued at about $125,000. Advisor Group Inc. lifted its position in Cinemark by 2.3% in the 2nd quarter. Advisor Group Inc. now owns 3,767 shares of the company’s stock valued at $145,000 after acquiring an additional 84 shares in the last quarter. Finally, Quantbot Technologies LP bought a new position in Cinemark in the 2nd quarter valued at about $146,000. 94.62% of the stock is currently owned by institutional investors.
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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