Cinemark (NYSE:CNK) Raised to Strong-Buy at Zacks Research

Cinemark (NYSE:CNK) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

CNK has been the subject of several other research reports. Roth Mkm reiterated a “buy” rating and set a $37.00 price objective on shares of Cinemark in a research note on Thursday, April 23rd. Barrington Research reiterated an “outperform” rating and set a $36.00 price objective on shares of Cinemark in a research note on Monday. B. Riley Financial restated a “neutral” rating on shares of Cinemark in a research note on Friday, April 17th. Wells Fargo & Company upped their price target on shares of Cinemark from $32.00 to $36.00 and gave the company an “overweight” rating in a research note on Thursday, April 9th. Finally, Morgan Stanley upped their price target on shares of Cinemark from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $33.31.

Cinemark Trading Down 1.0%

NYSE CNK opened at $26.99 on Monday. The company has a quick ratio of 0.67, a current ratio of 0.71 and a debt-to-equity ratio of 4.81. The firm has a market cap of $3.15 billion, a PE ratio of 23.88 and a beta of 1.03. The company has a 50 day moving average price of $28.23 and a 200 day moving average price of $26.42. Cinemark has a 52 week low of $21.60 and a 52 week high of $34.01.

Cinemark (NYSE:CNK) last posted its quarterly earnings data on Friday, May 1st. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The firm had revenue of $643.10 million for the quarter, compared to the consensus estimate of $632.74 million. Cinemark had a return on equity of 41.31% and a net margin of 5.31%.The company’s revenue was up 18.9% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.32) EPS. As a group, sell-side analysts forecast that Cinemark will post 2.17 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Maryland State Retirement & Pension System boosted its holdings in shares of Cinemark by 3.1% in the 4th quarter. Maryland State Retirement & Pension System now owns 15,157 shares of the company’s stock valued at $352,000 after acquiring an additional 449 shares during the last quarter. Amalgamated Bank boosted its holdings in shares of Cinemark by 1.7% in the 3rd quarter. Amalgamated Bank now owns 29,626 shares of the company’s stock valued at $830,000 after acquiring an additional 488 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of Cinemark by 20.1% in the 3rd quarter. Smartleaf Asset Management LLC now owns 3,027 shares of the company’s stock valued at $83,000 after acquiring an additional 506 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in shares of Cinemark by 2.2% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 23,584 shares of the company’s stock valued at $548,000 after acquiring an additional 507 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Cinemark by 118.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 935 shares of the company’s stock valued at $28,000 after acquiring an additional 507 shares during the last quarter.

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.