Cinemark Holdings, Inc. (NYSE:CNK) was the recipient of a significant decline in short interest during the month of May. As of May 15th, there was short interest totalling 11,660,000 shares, a decline of 10.0% from the April 30th total of 12,960,000 shares. Currently, 11.0% of the shares of the company are short sold. Based on an average trading volume of 5,210,000 shares, the days-to-cover ratio is currently 2.2 days.
A number of analysts recently weighed in on CNK shares. B. Riley lowered shares of Cinemark from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $16.00 to $13.00 in a report on Monday, May 18th. Macquarie raised shares of Cinemark from a “neutral” rating to an “outperform” rating and set a $20.00 target price on the stock in a report on Thursday, April 23rd. Zacks Investment Research lowered shares of Cinemark from a “hold” rating to a “sell” rating in a report on Monday, March 23rd. JPMorgan Chase & Co. lowered shares of Cinemark from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $32.00 to $20.00 in a report on Tuesday, March 17th. Finally, Barrington Research reissued a “buy” rating and issued a $20.00 price target on shares of Cinemark in a report on Thursday, April 16th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company’s stock. Cinemark has an average rating of “Buy” and a consensus price target of $23.67.
In other Cinemark news, CEO Mark Zoradi purchased 20,000 shares of the stock in a transaction dated Wednesday, February 26th. The shares were bought at an average price of $25.87 per share, with a total value of $517,400.00. Also, Director Lee Roy Mitchell purchased 106,001 shares of the stock in a transaction dated Monday, March 16th. The stock was acquired at an average cost of $8.28 per share, for a total transaction of $877,688.28. Following the transaction, the director now owns 5,708,210 shares of the company’s stock, valued at $47,263,978.80. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 205,801 shares of company stock worth $3,363,064. Corporate insiders own 9.39% of the company’s stock.
Shares of Cinemark stock opened at $14.04 on Friday. Cinemark has a 52-week low of $5.71 and a 52-week high of $41.60. The stock has a market capitalization of $1.67 billion, a price-to-earnings ratio of 8.72 and a beta of 1.76. The company has a fifty day moving average of $12.35 and a 200-day moving average of $25.24. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.87 and a current ratio of 0.90.
Cinemark (NYSE:CNK) last announced its quarterly earnings data on Friday, February 21st. The company reported $0.22 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.45 by ($0.23). Cinemark had a net margin of 5.83% and a return on equity of 14.74%. The business had revenue of $788.80 million during the quarter, compared to analysts’ expectations of $799.87 million. During the same period last year, the company posted $0.17 EPS. Cinemark’s revenue for the quarter was down 1.2% on a year-over-year basis. On average, equities research analysts forecast that Cinemark will post -0.63 earnings per share for the current fiscal year.
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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