We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Cinemark (CNK) Moves 5.4% Higher: Will This Strength Last?
Read MoreHide Full Article
Cinemark Holdings (CNK - Free Report) shares ended the last trading session 5.4% higher at $19.77. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 6.3% gain over the past four weeks.
Shares of Cinemark jumped, after an analyst at Wells Fargo upgraded the company’s rating. Per the report, the analyst raised his rating from underweight to overweight, citing the many planned movies of the year. He believes that the Cinemark stock price could surge to $23 in the coming weeks. Wells Fargo believes that there are 76 movies set to be released in 2024 and 2025. Some of the most notable ones are Inside Out, Despicable Me, and Deadpool. As such, these titles could lead to higher revenues and profits for the company.
This movie theater owner is expected to post quarterly loss of $0.29 per share in its upcoming report, which represents a year-over-year change of -866.7%. Revenues are expected to be $531.16 million, down 13% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Cinemark, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on CNK going forward to see if this recent jump can turn into more strength down the road.
Cinemark is a member of the Zacks Leisure and Recreation Services industry. One other stock in the same industry, Norwegian Cruise Line (NCLH - Free Report) , finished the last trading session 0.3% higher at $18.89. NCLH has returned -4.1% over the past month.
Norwegian Cruise Line's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.11. Compared to the company's year-ago EPS, this represents a change of +136.7%. Norwegian Cruise Line currently boasts a Zacks Rank of #3 (Hold).
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Cinemark (CNK) Moves 5.4% Higher: Will This Strength Last?
Cinemark Holdings (CNK - Free Report) shares ended the last trading session 5.4% higher at $19.77. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 6.3% gain over the past four weeks.
Shares of Cinemark jumped, after an analyst at Wells Fargo upgraded the company’s rating. Per the report, the analyst raised his rating from underweight to overweight, citing the many planned movies of the year. He believes that the Cinemark stock price could surge to $23 in the coming weeks. Wells Fargo believes that there are 76 movies set to be released in 2024 and 2025. Some of the most notable ones are Inside Out, Despicable Me, and Deadpool. As such, these titles could lead to higher revenues and profits for the company.
This movie theater owner is expected to post quarterly loss of $0.29 per share in its upcoming report, which represents a year-over-year change of -866.7%. Revenues are expected to be $531.16 million, down 13% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Cinemark, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on CNK going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Cinemark is a member of the Zacks Leisure and Recreation Services industry. One other stock in the same industry, Norwegian Cruise Line (NCLH - Free Report) , finished the last trading session 0.3% higher at $18.89. NCLH has returned -4.1% over the past month.
Norwegian Cruise Line's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.11. Compared to the company's year-ago EPS, this represents a change of +136.7%. Norwegian Cruise Line currently boasts a Zacks Rank of #3 (Hold).