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

By Jason Carr

In a report released today, Eric Wold from B.Riley FBR reiterated a Buy rating on Cinemark Holdings Inc (CNKResearch Report), with a price target of $46.50. The company’s shares opened today at $41.06.

Wold observed:

“Before the open on Holdings (CNK) reported 2Q19 results that came in well ahead of our recently reduced expectations as box office outperformance for the domestic circuit combined with impressive concessions per cap gains and a notable turnaround for the Latin American circuit (with the highest level of attendance since the Mexican circuit was sold). Heading into what is expected to be a stronger box office environment for 2H19 and heading into early 2020, we believe the gains in Movie Club membership positions CNK well to outperform and gain additional market share with movie-goers. As the company continues to pare back on capital spending as the theater enhancement strategy is well past its peak, we would also expect the improving free cash flow trends to drive stronger capital returns to shareholders.”

According to, Wold has 0 stars on 0-5 star ranking scale with an average return of -7.7% and a 33.7% success rate. Wold covers the Services sector, focusing on stocks such as Reading International Inc, National Cinemedia, and AMC Entertainment.

Currently, the analyst consensus on Cinemark Holdings Inc is a Strong Buy with an average price target of $44.79, implying a 9.1% upside from current levels. In a report issued on August 2, Barrington also maintained a Buy rating on the stock with a $49 price target.

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The company has a one-year high of $43.51 and a one-year low of $34.03. Currently, Cinemark Holdings Inc has an average volume of 1.13M.

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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.