Nomura Securities Reiterates a 'Buy' on Cinemark (CNK); Still Expecting Record 2012, But Q2 Comps Tough
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Price: $30.23 +0.40%
Rating Summary:
6 Buy, 7 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
6 Buy, 7 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade CNK Now!
Nomura Securities reiterates a 'Buy' on Cinemark Holdings (NYSE: CNK) price target of $27.00.
Analyst, Robert Fishman, said, "Despite the underlying LatAm box office strength, we are lowering our 2Q CNK estimates to reflect the currency headwinds and more cautious U.S. box office estimates. We now project 2Q EPS of $0.35 (vs. $0.41 prev.), $0.10 below consensus. We are reducing our 2Q revenue growth to 2% (vs. 5% prev.) and adjusted EBITDA growth from flat to -9% Y/Y. Our 2012 and 2013 EPS estimates decrease to $1.66 (vs. $1.73 prev.) and $1.82 (vs. $1.84 prev.), respectively. We believe current valuation provides a compelling entry point with CNK’s market-leading position in still-strong Latin America box office markets."
For an analyst ratings summary and ratings history on Cinemark Holdings click here. For more ratings news on Cinemark Holdings click here.
Shares of Cinemark Holdings closed at $21.64 yesterday, with a 52 week range of $17.10-$24.45.
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Analyst, Robert Fishman, said, "Despite the underlying LatAm box office strength, we are lowering our 2Q CNK estimates to reflect the currency headwinds and more cautious U.S. box office estimates. We now project 2Q EPS of $0.35 (vs. $0.41 prev.), $0.10 below consensus. We are reducing our 2Q revenue growth to 2% (vs. 5% prev.) and adjusted EBITDA growth from flat to -9% Y/Y. Our 2012 and 2013 EPS estimates decrease to $1.66 (vs. $1.73 prev.) and $1.82 (vs. $1.84 prev.), respectively. We believe current valuation provides a compelling entry point with CNK’s market-leading position in still-strong Latin America box office markets."
For an analyst ratings summary and ratings history on Cinemark Holdings click here. For more ratings news on Cinemark Holdings click here.
Shares of Cinemark Holdings closed at $21.64 yesterday, with a 52 week range of $17.10-$24.45.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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