Cinemark Holdings, Inc. (NYSE:CNK) Receives $23.30 Average Price Target from Brokerages

Cinemark Holdings, Inc. (NYSE:CNK) has received an average recommendation of “Hold” from the twelve analysts that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $23.30.

A number of analysts recently weighed in on the company. B. Riley increased their price objective on Cinemark from $28.00 to $31.00 and gave the company a “buy” rating in a report on Monday, October 11th. Wells Fargo & Company initiated coverage on shares of Cinemark in a research report on Friday, October 22nd. They set an “equal weight” rating and a $22.00 price objective on the stock. Morgan Stanley cut their price objective on shares of Cinemark from $24.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 15th. Credit Suisse Group raised shares of Cinemark from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $16.00 to $25.00 in a research report on Tuesday, November 9th. Finally, Zacks Investment Research upgraded shares of Cinemark from a “sell” rating to a “hold” rating in a report on Tuesday, January 4th.

In related news, EVP Michael Cavalier sold 8,929 shares of Cinemark stock in a transaction on Monday, December 20th. The shares were sold at an average price of $16.30, for a total value of $145,542.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 10.00% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. boosted its stake in Cinemark by 24.6% during the second quarter. BlackRock Inc. now owns 16,294,506 shares of the company’s stock worth $357,667,000 after acquiring an additional 3,221,393 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Cinemark by 4.5% during the second quarter. Vanguard Group Inc. now owns 10,043,114 shares of the company’s stock valued at $220,445,000 after purchasing an additional 436,441 shares during the last quarter. Polaris Capital Management LLC raised its holdings in shares of Cinemark by 24.8% during the third quarter. Polaris Capital Management LLC now owns 3,853,658 shares of the company’s stock valued at $74,029,000 after purchasing an additional 765,300 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Cinemark by 67.8% during the second quarter. Goldman Sachs Group Inc. now owns 3,504,238 shares of the company’s stock valued at $76,918,000 after purchasing an additional 1,415,665 shares during the last quarter. Finally, State Street Corp raised its holdings in shares of Cinemark by 1.3% during the second quarter. State Street Corp now owns 3,271,888 shares of the company’s stock valued at $71,818,000 after purchasing an additional 40,572 shares during the last quarter. 91.85% of the stock is currently owned by hedge funds and other institutional investors.

Shares of CNK opened at $17.38 on Wednesday. Cinemark has a one year low of $13.84 and a one year high of $27.84. The company has a market cap of $2.08 billion, a P/E ratio of -3.09 and a beta of 2.43. The company has a debt-to-equity ratio of 8.20, a current ratio of 1.04 and a quick ratio of 1.02. The firm has a 50 day simple moving average of $17.45 and a two-hundred day simple moving average of $17.87.

Cinemark (NYSE:CNK) last announced its quarterly earnings data on Friday, November 5th. The company reported ($0.65) EPS for the quarter, beating the consensus estimate of ($0.70) by $0.05. The business had revenue of $434.80 million during the quarter, compared to the consensus estimate of $428.65 million. Cinemark had a negative net margin of 70.88% and a negative return on equity of 131.22%. The company’s revenue was up 1124.8% on a year-over-year basis. During the same period in the previous year, the business earned ($1.25) earnings per share. On average, analysts expect that Cinemark will post -3.77 earnings per share for the current fiscal year.

About Cinemark

Cinemark Holdings, Inc is a holding company, which engages in the provision of motion picture exhibition through its subsidiaries. It operates through the U.S. and International segments. The company was founded by Lee Roy Mitchell in 1984 and is headquartered in Plano, TX.

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Analyst Recommendations for Cinemark (NYSE:CNK)

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