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Chart of the Day: Cinemark - Pass ther Popcorn
Author's Note: After some positive comments and seeing how many of you viewed last Friday's post on Beta I am going to add the 60 month Beta to the Barchart Technical Indicators I highlight every day.
The Chart of the Day belongs to the movie theater company Cinemark (CNK) . I found the stock by using Barchart's powerful screening functions to find stocks with the highest technical buy signals, highest Weighted Alpha, superior current momentum and having a Trend Seeker buy signal then used the Flipchart feature to review the charts for consistent price appreciation. Since the Trend Seeker signaled a buy on 6/14 the stock gained 46.29%.
Cinemark Holdings, Inc., together with its subsidiaries, engages in the motion picture exhibition business. As of February 16, 2024, it operated 501 theatres with 5,719 screens in 42 states and 13 countries in South and Central America. Cinemark Holdings, Inc. was founded in 1984 and is headquartered in Plano, Texas.
Barchart's Opinion Trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 20 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report.
Barchart Technical Indicators:
- 100% technical buy signals
- 77.50+ Weighted Alpha
- 60 month Beta 2.36 (New Today)
- 53.14% gain in the last year
- Trend Seeker buy signal
- Above its 20, 50 and 100 day moving averages
- 13 new highs and up 24.14% in the last month
- Relative Strength Index 79.01%
- Technical support level at $25.63
- Recently traded at $26.90 with 50 day moving average of $21.11
Fundamental Factors:
- Market Cap $3.18 billion
- P/E 26.77
- Revenue expected to be down 4.80% this year but increase by 12.60% next year
- Earnings estimated to also be down 3.00% this year, but increase 36.20% next year and continue compounding at an annual rate of 10.00% for the next 5 years
Analysts and Investor Sentiment -- I don't buy stocks because everyone else is buying but I do realize that if major firms and investors are dumping a stock it's hard to make money swimming against the tide:
- Wall Street analyst gave 5 strong buy, 3 buy, 1 hold and 1 sell opinion on the stock
- Analysts' price targets are between $16 and $31 with a consensus of $27.30
- Value Line gives the stock its average rating of 3 with price targets between $18 and $41 with a mid-point of $30 for a 15% gain
- CFRAs MarketScope rates the stock a hold
- MorningStar rates the stock an above average 4 star with Failr Value at $29.05 for about a 10% discount
- 11,090 investors monitor the stock on Seeking Alpha
Additional disclosure: The Barchart Chart of the Day highlights stocks that are experiencing exceptional current price appreciation. They are not intended to be buy recommendations as these stocks are extremely volatile and speculative. Should you decide to add one of these stocks to your investment portfolio it is highly suggested you follow a predetermined diversification and moving stop loss discipline that is consistent with your personal investment risk tolerance and reevaluate your stop losses at least on a weekly basis.
On the date of publication, Jim Van Meerten did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
