Carmike Cinemas Inc. (NASDAQ:CKEC) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report released on Monday.
According to Zacks, “Carmike Cinemas is one of the largest motion picture exhibitors in the United States. Carmike targets small to mid-size non-urban markets. “
Several other research analysts have also weighed in on CKEC. Wedbush restated a “neutral” rating and set a $33.00 target price on shares of Carmike Cinemas in a research report on Thursday, September 22nd. B. Riley restated a “neutral” rating and set a $32.75 target price on shares of Carmike Cinemas in a research report on Tuesday, August 2nd. One investment analyst has rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $30.83.
Carmike Cinemas (NASDAQ:CKEC) opened at 32.80 on Monday. The company has a 50-day moving average price of $32.45 and a 200 day moving average price of $30.87. The company has a market cap of $799.93 million, a PE ratio of 656.00 and a beta of 1.39. Carmike Cinemas has a 52 week low of $18.52 and a 52 week high of $33.34.
Carmike Cinemas (NASDAQ:CKEC) last posted its quarterly earnings results on Monday, August 1st. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by $0.04. The firm had revenue of $204.70 million for the quarter, compared to analysts’ expectations of $209.35 million. Carmike Cinemas had a return on equity of 3.65% and a net margin of 0.15%. The company’s revenue for the quarter was down 6.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.36 earnings per share. On average, equities research analysts forecast that Carmike Cinemas will post $0.25 EPS for the current fiscal year.
Several hedge funds have recently added to or reduced their stakes in CKEC. BlackRock Institutional Trust Company N.A. raised its stake in Carmike Cinemas by 2.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 654,377 shares of the company’s stock valued at $19,657,000 after buying an additional 14,476 shares in the last quarter. JPMorgan Chase & Co. acquired a new stake in Carmike Cinemas during the first quarter valued at approximately $4,032,000. OMERS ADMINISTRATION Corp acquired a new stake in Carmike Cinemas during the first quarter valued at approximately $10,757,000. Renaissance Technologies LLC raised its stake in Carmike Cinemas by 360.2% in the first quarter. Renaissance Technologies LLC now owns 607,500 shares of the company’s stock valued at $18,249,000 after buying an additional 475,500 shares in the last quarter. Finally, Bayesian Capital Management LP acquired a new stake in Carmike Cinemas during the first quarter valued at approximately $309,000. Institutional investors and hedge funds own 86.62% of the company’s stock.
About Carmike Cinemas
Carmike Cinemas, Inc is a motion picture exhibitor company. The Company owns and operates theatres and screens. Its theatres are equipped to provide digital cinema. It owns, operates or has an interest in approximately 280 theatres with over 2,940 screens located in over 40 states. In addition, it has approximately 260 theatres with over 1,090 screens equipped for three dimension (3-D).