Cinemark (NYSE:CNK) Raised to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Cinemark (NYSE:CNK) from a sell rating to a hold rating in a research report released on Wednesday, Zacks.com reports.

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. “

A number of other equities analysts also recently weighed in on the stock. Goldman Sachs Group assumed coverage on shares of Cinemark in a report on Wednesday, July 15th. They set a neutral rating and a $12.00 target price on the stock. B. Riley restated a hold rating and set a $16.00 target price on shares of Cinemark in a report on Friday, June 26th. Imperial Capital lowered their target price on shares of Cinemark from $24.00 to $23.00 and set an outperform rating on the stock in a report on Friday, June 19th. Macquarie upgraded shares of Cinemark from a neutral rating to an outperform rating and set a $20.00 target price on the stock in a report on Thursday, April 23rd. Finally, Wedbush lowered their target price on shares of Cinemark from $20.00 to $15.00 and set an outperform rating on the stock in a report on Wednesday. Six analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $20.00.

NYSE CNK opened at $11.83 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 0.98 and a debt-to-equity ratio of 2.52. Cinemark has a 12-month low of $5.71 and a 12-month high of $41.60. The company has a market capitalization of $1.39 billion, a PE ratio of 14.08 and a beta of 1.75. The firm’s 50 day moving average is $13.11 and its 200-day moving average is $18.10.

Cinemark (NYSE:CNK) last posted its quarterly earnings data on Wednesday, June 3rd. The company reported ($0.51) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.14) by ($0.37). The business had revenue of $543.60 million during the quarter, compared to analyst estimates of $557.51 million. Cinemark had a net margin of 3.18% and a return on equity of 8.81%. Cinemark’s revenue for the quarter was down 23.9% on a year-over-year basis. During the same quarter last year, the business earned $0.28 earnings per share. As a group, sell-side analysts expect that Cinemark will post -3.38 EPS for the current year.

A number of hedge funds have recently added to or reduced their stakes in the business. ArrowMark Colorado Holdings LLC boosted its position in Cinemark by 43.0% during the first quarter. ArrowMark Colorado Holdings LLC now owns 8,205,177 shares of the company’s stock worth $83,611,000 after purchasing an additional 2,466,425 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Cinemark by 4.7% in the first quarter. JPMorgan Chase & Co. now owns 4,382,998 shares of the company’s stock valued at $44,663,000 after acquiring an additional 198,234 shares during the period. State Street Corp boosted its position in shares of Cinemark by 2.2% in the first quarter. State Street Corp now owns 2,741,422 shares of the company’s stock valued at $27,935,000 after acquiring an additional 58,085 shares during the period. Deutsche Bank AG boosted its position in shares of Cinemark by 1,174.5% in the first quarter. Deutsche Bank AG now owns 2,516,669 shares of the company’s stock valued at $25,643,000 after acquiring an additional 2,319,210 shares during the period. Finally, Macquarie Group Ltd. boosted its position in shares of Cinemark by 23.7% in the fourth quarter. Macquarie Group Ltd. now owns 2,300,282 shares of the company’s stock valued at $77,864,000 after acquiring an additional 440,372 shares during the period. 98.67% of the stock is owned by hedge funds and other institutional investors.

About Cinemark

Cinemark Holdings, Inc, together with its subsidiaries, engages in the motion picture exhibition business. As of December 31, 2018, it operated 341 theatres and 4,586 screens in 41 states of the United States; and 205 theatres and 1,462 screens in Brazil, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Bolivia, Curacao, and Paraguay.

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