Cinemark’s (CNK) Buy Rating Reaffirmed at Wedbush

Wedbush reissued their buy rating on shares of Cinemark (NYSE:CNK) in a report released on Tuesday morning, AnalystRatings.com reports. Wedbush currently has a $45.00 price objective on the stock. Wedbush also issued estimates for Cinemark’s Q4 2019 earnings at $0.62 EPS, FY2019 earnings at $2.04 EPS, Q1 2020 earnings at $0.46 EPS, Q2 2020 earnings at $0.70 EPS, Q3 2020 earnings at $0.42 EPS, Q4 2020 earnings at $0.56 EPS, FY2020 earnings at $2.15 EPS and FY2021 earnings at $2.37 EPS.

A number of other research firms also recently commented on CNK. ValuEngine raised shares of Cinemark from a hold rating to a buy rating in a research report on Thursday, August 1st. MKM Partners dropped their target price on shares of Cinemark from $45.00 to $43.00 and set a buy rating on the stock in a research report on Tuesday, September 10th. Zacks Investment Research downgraded shares of Cinemark from a buy rating to a hold rating in a research report on Tuesday, October 1st. Goldman Sachs Group set a $43.00 target price on shares of Cinemark and gave the company a buy rating in a research report on Tuesday, October 15th. Finally, Morgan Stanley dropped their target price on shares of Cinemark from $41.00 to $37.00 and set an equal weight rating on the stock in a research report on Tuesday, July 23rd. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company has a consensus rating of Buy and an average price target of $43.60.

NYSE CNK opened at $36.31 on Tuesday. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.95 and a quick ratio of 0.92. The firm’s fifty day moving average price is $37.09 and its 200 day moving average price is $38.24. The company has a market capitalization of $4.30 billion, a price-to-earnings ratio of 19.84, a price-to-earnings-growth ratio of 1.06 and a beta of 0.68. Cinemark has a 12 month low of $34.49 and a 12 month high of $43.51.

Cinemark (NYSE:CNK) last posted its earnings results on Tuesday, November 5th. The company reported $0.27 EPS for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.23). The company had revenue of $821.82 million during the quarter, compared to analysts’ expectations of $807.69 million. Cinemark had a net margin of 5.60% and a return on equity of 14.25%. The company’s quarterly revenue was up 9.0% on a year-over-year basis. During the same period last year, the business earned $0.43 earnings per share. As a group, sell-side analysts forecast that Cinemark will post 2.27 earnings per share for the current year.

Institutional investors have recently modified their holdings of the business. Quadrant Capital Group LLC grew its position in Cinemark by 537.4% during the 3rd quarter. Quadrant Capital Group LLC now owns 937 shares of the company’s stock worth $34,000 after purchasing an additional 790 shares during the last quarter. Mesirow Financial Investment Management Equity Management acquired a new stake in shares of Cinemark in the second quarter valued at about $49,000. Quest Capital Management Inc. ADV acquired a new stake in shares of Cinemark in the third quarter valued at about $54,000. Marshall Wace LLP acquired a new stake in shares of Cinemark in the first quarter valued at about $65,000. Finally, Cerebellum GP LLC acquired a new stake in shares of Cinemark in the third quarter valued at about $118,000. 99.60% of the stock is currently owned by institutional investors.

About Cinemark

Cinemark Holdings, Inc, together with its subsidiaries, engages in the motion picture exhibition business. As of December 31, 2018, it operated 341 theatres and 4,586 screens in 41 states of the United States; and 205 theatres and 1,462 screens in Brazil, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Bolivia, Curacao, and Paraguay.

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Analyst Recommendations for Cinemark (NYSE:CNK)

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