B. Riley Reaffirms “Buy” Rating for Cinemark (NYSE:CNK)

Cinemark (NYSE:CNK)‘s stock had its “buy” rating reissued by equities researchers at B. Riley in a note issued to investors on Tuesday, December 5th. They currently have a $47.00 price target on the stock. B. Riley’s target price would suggest a potential upside of 32.96% from the stock’s current price.

CNK has been the topic of several other research reports. BidaskClub raised Cinemark from a “hold” rating to a “buy” rating in a research report on Tuesday, August 8th. Wedbush reissued a “buy” rating on shares of Cinemark in a research report on Monday, August 7th. Piper Jaffray Companies restated a “buy” rating on shares of Cinemark in a report on Sunday, September 17th. J P Morgan Chase & Co dropped their price objective on Cinemark from $47.00 to $42.00 in a report on Tuesday, August 22nd. Finally, Royal Bank of Canada set a $43.00 price objective on Cinemark and gave the company a “hold” rating in a report on Sunday, September 10th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. Cinemark has a consensus rating of “Hold” and a consensus target price of $42.31.

Cinemark (NYSE:CNK) opened at $35.35 on Tuesday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.46 and a current ratio of 1.50. Cinemark has a 12-month low of $32.03 and a 12-month high of $44.84. The firm has a market capitalization of $4,206.78, a PE ratio of 17.28, a PEG ratio of 1.22 and a beta of 1.18.

Cinemark (NYSE:CNK) last released its quarterly earnings data on Friday, November 3rd. The company reported $0.33 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.02). Cinemark had a return on equity of 18.43% and a net margin of 8.36%. The firm had revenue of $710.70 million during the quarter, compared to the consensus estimate of $702.60 million. During the same period in the previous year, the firm earned $0.56 EPS. The business’s revenue was down 7.5% compared to the same quarter last year. sell-side analysts predict that Cinemark will post 1.97 earnings per share for the current year.

In related news, Director Lee Roy Mitchell sold 299,700 shares of the company’s stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $36.43, for a total transaction of $10,918,071.00. Following the transaction, the director now directly owns 5,528,843 shares of the company’s stock, valued at approximately $201,415,750.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 474,607 shares of company stock worth $17,340,425 over the last ninety days. 9.20% of the stock is currently owned by corporate insiders.

Several hedge funds have recently made changes to their positions in the company. AXA increased its holdings in shares of Cinemark by 5.4% in the third quarter. AXA now owns 531,640 shares of the company’s stock valued at $19,251,000 after purchasing an additional 27,400 shares during the period. Ameritas Investment Partners Inc. grew its holdings in Cinemark by 57.1% during the third quarter. Ameritas Investment Partners Inc. now owns 49,804 shares of the company’s stock worth $1,710,000 after acquiring an additional 18,100 shares during the period. California Public Employees Retirement System grew its holdings in Cinemark by 0.6% during the third quarter. California Public Employees Retirement System now owns 264,939 shares of the company’s stock worth $9,593,000 after acquiring an additional 1,539 shares during the period. Cubist Systematic Strategies LLC grew its holdings in Cinemark by 235.7% during the third quarter. Cubist Systematic Strategies LLC now owns 38,945 shares of the company’s stock worth $1,410,000 after acquiring an additional 27,343 shares during the period. Finally, Violich Capital Management Inc. acquired a new stake in Cinemark during the third quarter worth about $257,000. 94.63% of the stock is currently owned by institutional investors and hedge funds.

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About Cinemark

Cinemark Holdings, Inc is engaged in the motion picture exhibition business with theatres in the United States (U.S.), Brazil, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Paraguay, Curacao and Bolivia. The Company manages its business in two segments: U.S.

Analyst Recommendations for Cinemark (NYSE:CNK)

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