Cinemark (CNK) Earns “Buy” Rating from Barrington Research
Barrington Research restated their buy rating on shares of Cinemark (NYSE:CNK) in a report issued on Monday. Barrington Research currently has a $47.00 price target on the stock. Barrington Research also issued estimates for Cinemark’s Q3 2018 earnings at $0.39 EPS, Q4 2018 earnings at $0.47 EPS, FY2018 earnings at $2.10 EPS, Q1 2019 earnings at $0.48 EPS, Q2 2019 earnings at $0.89 EPS, Q3 2019 earnings at $0.44 EPS, Q4 2019 earnings at $0.54 EPS, FY2019 earnings at $2.35 EPS and FY2020 earnings at $2.55 EPS.
Several other equities research analysts have also recently issued reports on the stock. Morgan Stanley raised their target price on shares of Cinemark from $40.00 to $42.00 and gave the stock an equal weight rating in a research report on Wednesday, May 9th. Imperial Capital started coverage on shares of Cinemark in a research report on Wednesday, July 11th. They issued an outperform rating and a $46.00 target price on the stock. ValuEngine cut shares of Cinemark from a hold rating to a sell rating in a research report on Friday, July 20th. Zacks Investment Research raised shares of Cinemark from a hold rating to a buy rating and set a $41.00 target price on the stock in a research report on Wednesday, July 11th. Finally, Wedbush set a $47.00 target price on shares of Cinemark and gave the stock a buy rating in a research report on Friday, May 4th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company’s stock. The company presently has an average rating of Hold and an average price target of $41.63.
CNK opened at $36.97 on Monday. The company has a debt-to-equity ratio of 1.38, a quick ratio of 1.39 and a current ratio of 1.43. Cinemark has a 1 year low of $32.03 and a 1 year high of $44.00. The company has a market capitalization of $4.30 billion, a P/E ratio of 16.36, a P/E/G ratio of 1.20 and a beta of 0.93.
A number of hedge funds have recently made changes to their positions in the business. California Public Employees Retirement System lifted its position in Cinemark by 11.6% during the second quarter. California Public Employees Retirement System now owns 328,270 shares of the company’s stock valued at $11,516,000 after buying an additional 34,010 shares in the last quarter. Davy Asset Management Ltd acquired a new position in Cinemark during the second quarter valued at approximately $803,000. Bruderman Asset Management LLC lifted its position in Cinemark by 76.6% during the second quarter. Bruderman Asset Management LLC now owns 4,000 shares of the company’s stock valued at $140,000 after buying an additional 1,735 shares in the last quarter. Millennium Management LLC lifted its position in Cinemark by 3,107.6% during the second quarter. Millennium Management LLC now owns 500,840 shares of the company’s stock valued at $17,569,000 after buying an additional 485,226 shares in the last quarter. Finally, Waddell & Reed Financial Inc. lifted its position in Cinemark by 11.1% during the second quarter. Waddell & Reed Financial Inc. now owns 279,980 shares of the company’s stock valued at $9,822,000 after buying an additional 27,990 shares in the last quarter. 96.90% of the stock is currently owned by hedge funds and other institutional investors.
Cinemark Company Profile
Cinemark Holdings, Inc, together with its subsidiaries, engages in the motion picture exhibition business. It operates theatres in the United States, Brazil, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Bolivia, Curacao, and Paraguay. As of December 31, 2017, the company operated 533 theatres and 5,959 screens.
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