Cinemark Holdings Inc (CNK) Gets a Buy Rating from B.Riley FBR


In a report released today, Eric Wold from B.Riley FBR reiterated a Buy rating on Cinemark Holdings Inc (NYSE: CNK), with a price target of $46.75. The company’s shares closed on Friday at $35.48.

Wold noted:

“Cinemark Holdings (CNK) is scheduled to report 2Q18 results before the open on a call at 8:30am ET. Ahead of the report, we are lowering our 2Q18 estimates to take a more conservative stance on box office performance within the Cinemark circuit given the combination of a relatively-weak family film slate in the quarter as well as the potential for some level of World Cup distraction within the LatAm region. We believe this is solely a slate/period- specific reduction and even though we continue to project difficult box office comps during 3Q/4Q, we believe these difficult comps are well understood by investors and the focus into the print will be on the improving underlying performance and market share of CNK’s theaters as the remodel program continues.”

According to TipRanks.com, Wold is a 4-star analyst with an average return of 8.4% and a 57.3% success rate. Wold covers the Services sector, focusing on stocks such as Reading International Inc, National Cinemedia, and AMC Entertainment.

Cinemark Holdings Inc has an analyst consensus of Strong Buy, with a price target consensus of $44.95, a 26.7% upside from current levels. In a report issued on August 2, Wedbush also reiterated a Buy rating on the stock with a $43 price target.

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Cinemark Holdings Inc’s market cap is currently $4.14B and has a P/E ratio of 16.78. The company has a Price to Book ratio of 2.84.

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Cinemark Holdings, Inc. is a holding company, which engages in the provision of motion picture exhibition through its subsidiaries. It operates through the U.S. and International segments. The company was founded by Lee Roy Mitchell in 1984 and is headquartered in Plano, TX.

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