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

Key Points

• Zacks Research upgraded Cinemark from “hold” to “strong buy,” while other analysts largely maintained bullish views. The stock has a “Moderate Buy” consensus rating and an average price target of $38.00.
• Cinemark reported quarterly EPS of $1.19, exceeding estimates of $1.03, while revenue reached $1.09 billion versus expectations of $1.03 billion and rose 15.5% year over year.
• CNK opened at $37.76 and was trading near its 52-week high of $38.98, with a market capitalization of approximately $4.38 billion.

Cinemark (NYSE:CNK - Get Free Report) was upgraded by equities research analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a note issued to investors on Tuesday,Zacks.com reports.

Several other research analysts have also issued reports on CNK. Morgan Stanley set a $40.00 target price on Cinemark in a research report on Wednesday, July 29th. Wells Fargo & Company increased their price target on Cinemark from $31.00 to $34.00 and gave the company an "equal weight" rating in a research note on Friday, July 31st. Benchmark raised their price objective on Cinemark from $37.00 to $40.00 and gave the stock a "buy" rating in a research report on Friday, July 31st. Moffett Nathanson reaffirmed a "buy" rating and issued a $40.00 price objective on shares of Cinemark in a research note on Thursday, July 30th. Finally, Weiss Ratings upgraded Cinemark from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Cinemark presently has an average rating of "Moderate Buy" and an average price target of $38.00.

Cinemark Trading Down 0.8%

CNK opened at $37.76 on Tuesday. Cinemark has a fifty-two week low of $21.60 and a fifty-two week high of $38.98. The company has a debt-to-equity ratio of 3.87, a current ratio of 0.84 and a quick ratio of 0.81. The firm has a market capitalization of $4.38 billion, a price-to-earnings ratio of 22.34 and a beta of 1.00. The company's 50 day moving average price is $32.24 and its two-hundred day moving average price is $28.84.

Cinemark (NYSE:CNK - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The company reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.16. The firm had revenue of $1.09 billion during the quarter, compared to analysts' expectations of $1.03 billion. Cinemark had a net margin of 6.44% and a return on equity of 50.94%. The company's revenue was up 15.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.63 EPS. As a group, research analysts predict that Cinemark will post 2.34 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Maryland State Retirement & Pension System boosted its holdings in shares of Cinemark by 3.1% during the 4th quarter. Maryland State Retirement & Pension System now owns 15,157 shares of the company's stock worth $352,000 after purchasing an additional 449 shares during the last quarter. GAMMA Investing LLC lifted its position in Cinemark by 10.2% during the second quarter. GAMMA Investing LLC now owns 4,982 shares of the company's stock worth $158,000 after buying an additional 462 shares in the last quarter. Gabelli Funds LLC grew its holdings in Cinemark by 0.5% in the 1st quarter. Gabelli Funds LLC now owns 101,866 shares of the company's stock valued at $2,905,000 after buying an additional 490 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in 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 buying an additional 507 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund grew its holdings in 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 buying an additional 507 shares in the last quarter.

Cinemark Company Profile

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.

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