Cinemark Holdings, Inc. (CNK) Shares Bought by Royal Bank of Canada

Royal Bank of Canada raised its holdings in Cinemark Holdings, Inc. (NYSE:CNK) by 10.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 110,946 shares of the company’s stock after purchasing an additional 10,434 shares during the quarter. Royal Bank of Canada’s holdings in Cinemark were worth $4,179,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of CNK. Geode Capital Management LLC boosted its holdings in shares of Cinemark by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 899,419 shares of the company’s stock valued at $31,317,000 after purchasing an additional 18,979 shares in the last quarter. Amundi Pioneer Asset Management Inc. acquired a new stake in shares of Cinemark in the 4th quarter valued at $228,000. Jefferies Group LLC acquired a new stake in shares of Cinemark in the 4th quarter valued at $590,000. Deutsche Bank AG boosted its holdings in shares of Cinemark by 3.4% in the 4th quarter. Deutsche Bank AG now owns 454,967 shares of the company’s stock valued at $15,839,000 after purchasing an additional 15,107 shares in the last quarter. Finally, Two Sigma Advisers LP boosted its holdings in shares of Cinemark by 30.6% in the 4th quarter. Two Sigma Advisers LP now owns 125,349 shares of the company’s stock valued at $4,365,000 after purchasing an additional 29,349 shares in the last quarter. 97.97% of the stock is currently owned by hedge funds and other institutional investors.

Get Cinemark alerts:

A number of equities research analysts have weighed in on the company. Wedbush set a $47.00 target price on Cinemark and gave the company an “outperform” rating in a report on Monday, April 9th. Zacks Investment Research raised Cinemark from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a report on Wednesday, July 11th. ValuEngine raised Cinemark from a “sell” rating to a “hold” rating in a report on Thursday, July 5th. Morgan Stanley raised their target price on Cinemark from $40.00 to $42.00 and gave the company an “equal weight” rating in a report on Wednesday, May 9th. Finally, Imperial Capital assumed coverage on Cinemark in a report on Wednesday, July 11th. They issued an “outperform” rating and a $46.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $42.04.

Shares of Cinemark opened at $35.89 on Wednesday, according to Marketbeat Ratings. Cinemark Holdings, Inc. has a 52 week low of $32.03 and a 52 week high of $44.00. The firm has a market capitalization of $4.19 billion, a PE ratio of 16.92, a PEG ratio of 1.09 and a beta of 0.93. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.53 and a quick ratio of 1.48.

Cinemark (NYSE:CNK) last announced its quarterly earnings results on Wednesday, May 9th. The company reported $0.53 EPS for the quarter, missing the Zacks’ consensus estimate of $0.64 by ($0.11). Cinemark had a net margin of 8.24% and a return on equity of 17.72%. The firm had revenue of $780.00 million during the quarter, compared to the consensus estimate of $758.47 million. During the same quarter in the previous year, the company posted $0.68 earnings per share. The firm’s revenue was up .1% on a year-over-year basis. analysts expect that Cinemark Holdings, Inc. will post 2.19 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, June 22nd. Stockholders of record on Friday, June 8th were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date of this dividend was Thursday, June 7th. Cinemark’s payout ratio is 56.64%.

Cinemark Profile

Cinemark Holdings, Inc, together with its subsidiaries, engages in the motion picture exhibition business. It operates theatres in the United States, Brazil, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Bolivia, Curacao, and Paraguay. As of December 31, 2017, the company operated 533 theatres and 5,959 screens.

Featured Article: Earnings Per Share

Want to see what other hedge funds are holding CNK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cinemark Holdings, Inc. (NYSE:CNK).

Intel shares get downgraded by Evercore ISI due to rising competition from Nvidia, AMD

Intel��s market leadership in the semiconductor industry may be at risk, according to Evercore ISI.

The firm lowered its rating to in line from outperform for Intel shares, saying the search for the company's next CEO will add to investor uncertainty.

Last month Intel announced the resignation of its CEO Brian Krzanich for his alleged infraction of the company's nonfraternization policy stemming from a consensual relationship. Krzanich violated the policy that said managers cannot have relationships with people who report to them either directly or indirectly, Intel said. He was replaced on an interim basis by Chief Financial Officer Robert Swan.

��The departure of Brian Krzanich adds additional uncertainty, as it comes at a crucial time for the company. Intel is facing increasing competition from the likes of Nvidia and AMD, and its manufacturing advantages appear to be flagging, with TSMC��s 7nm processes in production,�� analyst C.J. Muse said in a note to clients Monday.

Intel shares are down 1.5 percent Tuesday after the report. Its stock is up 13 percent this year through Monday versus the S&P 500's 5 percent return.

Muse reduced his price target to $54 from $64 for Intel shares, representing 4 percent upside to Monday's close.

The analyst also noted Intel��s problems in moving to its next-generation chip manufacturing technology.

The chipmaker revealed on its April 26 earnings conference call that it delayed volume production under its 10-nanometer chip manufacturing process to next year. Conversely, AMD said on its call that it plans to start next-generation 7-nanometer chip production in late 2018.

One nanometer equals one-billionth of a meter. Smaller nanometer chipmaking technologies allow companies to create faster, more power-efficient chips.

��The company��s competitors are not standing still. AMD is in its best position in years, and the AI/compute landscape is changing dramatically with the rise of alternative architectures (NVDA, custom processors, etc.),�� he said.

When asked for comment, an Intel spokesperson referred to their previous statement, saying ��we remain confident in our products and competitive position.��

Intel is slated to report its second-quarter results on July 26.

Disclaimer