Cinemark (NYSE:CNK) Raised to “Strong-Buy” at Zacks Research

Cinemark (NYSE:CNK – Get Free Report) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Tuesday, Zacks reports.

Several other research firms have also weighed in on CNK. Moffett Nathanson reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Cinemark in a research note on Thursday, July 30th. Guggenheim set a $37.00 target price on Cinemark in a research note on Thursday, July 2nd. B. Riley Financial increased their target price on shares of Cinemark from $35.00 to $37.00 and gave the stock a “neutral” rating in a report on Friday, July 31st. Wedbush increased their target price on shares of Cinemark from $40.00 to $43.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Finally, Weiss Ratings upgraded shares of Cinemark from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $37.93.

Check Out Our Latest Stock Analysis on CNK

Cinemark Stock Performance

Shares of NYSE:CNK opened at $38.15 on Tuesday. The company’s 50 day simple moving average is $36.38 and its 200 day simple moving average is $32.54. The stock has a market capitalization of $4.42 billion, a price-to-earnings ratio of 22.57 and a beta of 1.03. The company has a debt-to-equity ratio of 3.87, a current ratio of 0.84 and a quick ratio of 0.81. Cinemark has a 1 year low of $21.60 and a 1 year high of $39.07.

Cinemark (NYSE:CNK – Get Free Report) last issued its earnings results on Thursday, July 30th. The company reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.03 by $0.16. Cinemark had a return on equity of 50.94% and a net margin of 6.44%. The firm had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter last year, the business posted $0.63 EPS. The company’s revenue was up 15.5% compared to the same quarter last year. As a group, research analysts predict that Cinemark will post 2.49 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CNK. BlackRock Inc. acquired a new stake in shares of Cinemark during the second quarter worth $530,855,000. Park West Asset Management LLC bought a new position in Cinemark during the second quarter worth $40,707,000. Bank of New York Mellon Corp bought a new position in Cinemark during the second quarter worth $29,387,000. Bank of America Corp DE raised its stake in Cinemark by 115.1% during the first quarter. Bank of America Corp DE now owns 831,389 shares of the company’s stock worth $23,711,000 after buying an additional 444,965 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in Cinemark in the second quarter valued at $22,657,000.

Cinemark Company Profile

(Get Free Report)

Cinemark Holdings, Inc is a motion picture exhibition company that operates movie theaters in the United States and Latin America. Through its Cinemark and other regional theater brands, the company shows first-run films and provides audiences with large-format entertainment experiences.

Cinemark’s services include movie ticketing, food and beverage concessions, premium seating, and enhanced presentation formats such as its XD auditoriums. The company also offers customer loyalty programs, advertising opportunities, private theater rentals, and other event-based entertainment services.

Founded in 1987 by Lee Roy Mitchell, Cinemark is headquartered in Plano, Texas.

Further Reading

Analyst Recommendations for Cinemark (NYSE:CNK)

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