Cinemark (NYSE:CNK – Get Free Report) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Tuesday,Zacks.com reports.
Other research analysts have also recently issued research reports about the stock. Wedbush upped their target price on shares of Cinemark from $40.00 to $43.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Roth Capital set a $40.00 price target on shares of Cinemark in a research report on Thursday, July 30th. Wells Fargo & Company upped their price objective on shares of Cinemark from $31.00 to $34.00 and gave the stock an “equal weight” rating in a report on Friday, July 31st. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $40.00 target price on shares of Cinemark in a report on Friday, July 31st. Finally, Morgan Stanley set a $40.00 target price on Cinemark in a research report on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.00.
Get Our Latest Report on Cinemark
Cinemark Trading Down 0.8%
Cinemark (NYSE:CNK – Get Free Report) last posted its earnings results on Thursday, July 30th. The company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.16. Cinemark had a return on equity of 50.94% and a net margin of 6.44%.The company had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter last year, the firm earned $0.63 earnings per share. The firm’s quarterly revenue was up 15.5% compared to the same quarter last year. As a group, equities research analysts expect that Cinemark will post 2.34 EPS for the current year.
Institutional Investors Weigh In On Cinemark
Institutional investors have recently added to or reduced their stakes in the business. Maryland State Retirement & Pension System lifted its position in shares of Cinemark by 3.1% during the 4th quarter. Maryland State Retirement & Pension System now owns 15,157 shares of the company’s stock worth $352,000 after buying an additional 449 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Cinemark by 10.2% in the 2nd quarter. GAMMA Investing LLC now owns 4,982 shares of the company’s stock valued at $158,000 after buying an additional 462 shares during the last quarter. Gabelli Funds LLC grew its position in shares of Cinemark by 0.5% in the 1st quarter. Gabelli Funds LLC now owns 101,866 shares of the company’s stock valued at $2,905,000 after buying an additional 490 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in Cinemark by 118.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 935 shares of the company’s stock worth $28,000 after acquiring an additional 507 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund raised its stake in Cinemark by 2.2% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 23,584 shares of the company’s stock worth $548,000 after acquiring an additional 507 shares in the last quarter.
Cinemark Company Profile
Cinemark Holdings, Inc (NYSE: CNK) is a leading theatrical exhibitor that acquires, develops and operates motion picture theatres under the Cinemark® brand in the United States and Latin America. The company’s core business involves the presentation of first-run feature films coupled with an array of in‐theatre services, including concessions, premium auditoriums and loyalty programs. Cinemark’s exhibition portfolio encompasses both corporate‐owned and franchised complexes, offering moviegoers a range of experiences from standard screens to large‐format halls.
The company’s product offerings extend beyond ticket sales to include an assortment of concession items, such as popcorn, fountain beverages, candy and specialty snacks, as well as bar and lounge concepts in select locations.
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