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

Cinemark (NYSE:CNK)‘s stock had its “buy” rating restated by equities researchers at B. Riley in a research note issued on Tuesday, December 5th. They currently have a $47.00 price target on the stock. B. Riley’s target price points to a potential upside of 34.98% from the stock’s current price.

Several other brokerages have also issued reports on CNK. Wedbush reissued a “buy” rating on shares of Cinemark in a research note on Monday, August 7th. Barrington Research lowered their price objective on shares of Cinemark from $49.00 to $46.00 and set an “outperform” rating on the stock in a report on Monday, August 7th. BidaskClub upgraded shares of Cinemark from a “hold” rating to a “buy” rating in a report on Tuesday, August 8th. Royal Bank of Canada reiterated a “hold” rating and issued a $43.00 target price on shares of Cinemark in a report on Wednesday, August 9th. Finally, Piper Jaffray Companies started coverage on shares of Cinemark in a report on Friday, August 11th. They issued an “overweight” rating and a $44.00 target price for the company. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. Cinemark has an average rating of “Hold” and a consensus price target of $42.31.

Shares of Cinemark (NYSE CNK) traded up $0.13 during mid-day trading on Tuesday, hitting $34.82. 720,457 shares of the company traded hands, compared to its average volume of 1,200,000. The company has a quick ratio of 1.46, a current ratio of 1.50 and a debt-to-equity ratio of 1.50. The company has a market cap of $4,060.00, a P/E ratio of 16.50, a price-to-earnings-growth ratio of 1.17 and a beta of 1.18. Cinemark has a 1-year low of $32.03 and a 1-year high of $44.84.

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 company had revenue of $710.70 million for the quarter, compared to analyst estimates of $702.60 million. During the same quarter in the prior year, the company earned $0.56 earnings per share. Cinemark’s revenue for the quarter was down 7.5% compared to the same quarter last year. equities research analysts anticipate that Cinemark will post 1.97 earnings per share for the current fiscal year.

In related news, EVP Tom Owens sold 9,213 shares of Cinemark stock in a transaction on Wednesday, December 20th. The shares were sold at an average price of $36.00, for a total value of $331,668.00. Following the transaction, the executive vice president now directly owns 42,722 shares of the company’s stock, valued at $1,537,992. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Lee Roy Mitchell sold 299,700 shares of Cinemark stock in a transaction on 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 completion of the transaction, the director now directly owns 5,528,843 shares in the company, valued at $201,415,750.49. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 483,820 shares of company stock valued at $17,672,093. 9.20% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the stock. Cable Hill Partners LLC boosted its holdings in Cinemark by 3,300.0% in the third quarter. Cable Hill Partners LLC now owns 2,958 shares of the company’s stock valued at $107,000 after acquiring an additional 2,871 shares in the last quarter. Ffcm LLC bought a new stake in shares of Cinemark during the 3rd quarter valued at $125,000. Zions Bancorporation bought a new stake in shares of Cinemark during the 3rd quarter valued at $125,000. Advisor Group Inc. boosted its holdings in shares of Cinemark by 2.3% during the 2nd quarter. Advisor Group Inc. now owns 3,767 shares of the company’s stock valued at $145,000 after buying an additional 84 shares in the last quarter. Finally, Quantbot Technologies LP bought a new stake in shares of Cinemark during the 2nd quarter valued at $146,000. Institutional investors and hedge funds own 94.62% of the company’s stock.

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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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