Wall Street Zen Upgrades Cinemark (NYSE:CNK) to Strong-Buy

Cinemark (NYSE:CNK) was upgraded by analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Saturday.

Several other analysts have also recently commented on CNK. Wedbush boosted their price target on Cinemark from $40.00 to $43.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Morgan Stanley set a $40.00 price objective on Cinemark in a report on Wednesday, July 29th. Wells Fargo & Company lifted their target price on shares of Cinemark from $31.00 to $34.00 and gave the stock an “equal weight” rating in a research note on Friday, July 31st. Roth Capital set a $40.00 target price on Cinemark in a research report on Thursday, July 30th. Finally, Guggenheim set a $37.00 price target on Cinemark in a research note on Thursday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $37.93.

Cinemark Trading Down 0.0%

CNK stock opened at $37.37 on Friday. Cinemark has a 12-month low of $21.60 and a 12-month high of $38.98. The business’s 50-day moving average is $33.29 and its 200 day moving average is $29.50. The company has a current ratio of 0.84, a quick ratio of 0.81 and a debt-to-equity ratio of 3.87. The stock has a market cap of $4.33 billion, a price-to-earnings ratio of 22.11 and a beta of 1.00.

Cinemark (NYSE:CNK) last announced its earnings results on Thursday, July 30th. The company reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.16. The business had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Cinemark had a return on equity of 50.94% and a net margin of 6.44%.The business’s revenue was up 15.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.63 earnings per share. On average, sell-side analysts anticipate that Cinemark will post 2.34 EPS for the current fiscal year.

Institutional Trading of Cinemark

A number of large investors have recently bought and sold shares of CNK. BlackRock Inc. purchased a new position in Cinemark in the 2nd quarter valued at $530,855,000. Orbis Allan Gray Ltd raised its position in Cinemark by 31.0% during the 4th quarter. Orbis Allan Gray Ltd now owns 15,057,911 shares of the company’s stock worth $349,946,000 after buying an additional 3,563,810 shares during the last quarter. Wellington Management Group LLP raised its position in Cinemark by 8.4% during the 4th quarter. Wellington Management Group LLP now owns 9,536,900 shares of the company’s stock worth $221,638,000 after buying an additional 742,307 shares during the last quarter. Lavaca Capital LLC acquired a new stake in shares of Cinemark in the 4th quarter worth $133,045,000. Finally, State Street Corp lifted its stake in shares of Cinemark by 1.5% in the 4th quarter. State Street Corp now owns 3,950,606 shares of the company’s stock worth $91,812,000 after acquiring an additional 60,176 shares during the period.

About Cinemark

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.