Zacks Investment Research Downgrades Cinemark Holdings Inc (NYSE:CNK) to Sell

Cinemark Holdings Inc (NYSE:CNK) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday, October 12th.

According to Zacks, “CINEMARK HOLDINGS Is a leader in the motion picture exhibition industry.Cinemark operates 408 theatres and 4,657 screens in 38 states in the United States and internationally in 12 countries, mainly in Mexico, South and Central America. “

Several other equities analysts have also weighed in on the company. Royal Bank Of Canada set a $43.00 price objective on Cinemark Holdings and gave the company a “hold” rating in a research note on Sunday, September 10th. Credit Suisse Group downgraded Cinemark Holdings from a “neutral” rating to an “underperform” rating and dropped their target price for the company from $38.00 to $34.00 in a report on Thursday, June 22nd. ValuEngine downgraded Cinemark Holdings from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Morgan Stanley dropped their price objective on Cinemark Holdings from $43.00 to $40.00 and set an “underweight” rating on the stock in a report on Thursday, July 6th. Finally, Wedbush lifted their price objective on Cinemark Holdings from $43.00 to $45.00 and gave the stock a “neutral” rating in a report on Tuesday, July 4th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company’s stock. Cinemark Holdings currently has a consensus rating of “Hold” and an average target price of $42.00.

Cinemark Holdings (NYSE:CNK) opened at 35.90 on Thursday. The stock has a market capitalization of $4.16 billion, a PE ratio of 15.34 and a beta of 1.10. The stock’s 50 day moving average is $35.61 and its 200 day moving average is $38.55. Cinemark Holdings has a 12-month low of $32.03 and a 12-month high of $44.84.

Cinemark Holdings (NYSE:CNK) last issued its quarterly earnings results on Friday, August 4th. The company reported $0.44 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.44. The firm had revenue of $751.20 million for the quarter, compared to analyst estimates of $751.72 million. Cinemark Holdings had a return on equity of 20.98% and a net margin of 9.12%. The firm’s quarterly revenue was up .9% on a year-over-year basis. During the same period last year, the company earned $0.46 EPS. Equities analysts anticipate that Cinemark Holdings will post $2.06 EPS for the current fiscal year.

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In other Cinemark Holdings news, CEO Mark Zoradi purchased 5,000 shares of the company’s stock in a transaction that occurred on Friday, September 8th. The shares were purchased at an average cost of $32.19 per share, with a total value of $160,950.00. Following the completion of the transaction, the chief executive officer now owns 172,456 shares of the company’s stock, valued at $5,551,358.64. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 9.20% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC grew its stake in Cinemark Holdings by 17.5% in the second quarter. FMR LLC now owns 11,685,034 shares of the company’s stock valued at $453,963,000 after purchasing an additional 1,742,861 shares in the last quarter. BlackRock Inc. grew its stake in Cinemark Holdings by 13,956.8% in the first quarter. BlackRock Inc. now owns 11,065,807 shares of the company’s stock valued at $490,657,000 after purchasing an additional 10,987,085 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Cinemark Holdings by 4.3% during the 2nd quarter. Vanguard Group Inc. now owns 9,385,792 shares of the company’s stock worth $364,639,000 after acquiring an additional 382,700 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Cinemark Holdings by 2.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 6,095,192 shares of the company’s stock worth $236,798,000 after acquiring an additional 160,113 shares in the last quarter. Finally, Jennison Associates LLC lifted its position in shares of Cinemark Holdings by 32.9% during the 2nd quarter. Jennison Associates LLC now owns 3,988,676 shares of the company’s stock worth $154,960,000 after purchasing an additional 988,361 shares during the last quarter. Hedge funds and other institutional investors own 90.13% of the company’s stock.

About Cinemark Holdings

Cinemark Holdings, Inc is engaged in the motion picture exhibition business with theatres in the United States (U.S.), Brazil, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Paraguay, Curacao and Bolivia. The Company manages its business in two segments: U.S.

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