Market Overview

UPDATE: Piper Jaffray Reiterates Overweight Rating, Raises PT on Cinemark Holdings

Related CNK
14 U.S. Stock Declaring Increases In Quarterly Dividends
Top 4 Stocks In The Movie Production, Theaters Industry With The Highest Dividend Yield

In a report published Friday, Piper Jaffray & Co. reiterated its Overweight rating on Cinemark Holdings (NYSE: CNK), and slightly raised its price target on $30.00 to $31.00.

Piper Jaffray noted, “We raised our Q4 revenue, EBITDA and EPS estimates to $ 619M / $142M / $0.38 from $577M / $118M / $0.25. We expect CNK's domestic attendance to end up +11% and ticket pricing +3.3%. Internationally, we are factoring a 6% currency drag, attendance should end up +12% and currency adjusted ticket pricing +6%. We raised our 2013 revenue, EBITDA and EPS estimates to $2,635M / $628M / $1.82 from $2,548M / $583M / $1.58. We are raising our price target to $31 from $30 based on a 5-year DCF analysis using a WACC of 7.9% and terminal EBITDA multiple of 7.0x.”

Cinemark Holdings closed on Thursday at $26.59.

Posted-In: Piper Jaffray & Co.Analyst Color Price Target Analyst Ratings

 

Related Articles (CNK)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters

Benzinga Professional