Wedbush Reiterates “Buy” Rating for Cinemark (NYSE:CNK)

Wedbush reissued their buy rating on shares of Cinemark (NYSE:CNK) in a research note issued to investors on Tuesday, AnalystRatings.com reports. Wedbush currently has a $45.00 price target 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.

Other equities research analysts have also recently issued research reports about the stock. Morgan Stanley dropped their price target on shares of Cinemark from $41.00 to $37.00 and set an equal weight rating for the company in a research report on Tuesday, July 23rd. Macquarie set a $42.00 price target on shares of Cinemark and gave the company a hold rating in a research report on Tuesday, October 15th. ValuEngine raised shares of Cinemark from a hold rating to a buy rating in a research report on Thursday, August 1st. Goldman Sachs Group set a $43.00 price target on shares of Cinemark and gave the company a buy rating in a research report on Tuesday, October 15th. Finally, Zacks Investment Research cut shares of Cinemark from a buy rating to a hold rating in a research report on Tuesday, October 1st. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of $43.60.

CNK stock opened at $36.31 on Tuesday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.92 and a current ratio of 0.95. Cinemark has a 52 week low of $34.49 and a 52 week high of $43.51. The firm’s fifty day moving average is $37.09 and its 200 day moving average is $38.24. The firm has a market cap of $4.30 billion, a P/E ratio of 19.84, a P/E/G ratio of 1.06 and a beta of 0.68.

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

Institutional investors and hedge funds have recently made changes to their positions in the business. Quadrant Capital Group LLC lifted its position in shares of Cinemark by 537.4% in 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 period. Mesirow Financial Investment Management Equity Management purchased a new stake in shares of Cinemark in the 2nd quarter worth about $49,000. Quest Capital Management Inc. ADV purchased a new stake in shares of Cinemark in the 3rd quarter worth about $54,000. Marshall Wace LLP purchased a new stake in shares of Cinemark in the 1st quarter worth about $65,000. Finally, Cerebellum GP LLC purchased a new stake in shares of Cinemark in the 3rd quarter worth about $118,000. 99.60% of the stock is owned by institutional investors and hedge funds.

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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