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Fly Intel: Top five analyst downgrades » 10:09
05/18/20
05/18
10:09
05/18/20
10:09
CNK

Cinemark

$12.47 /

+0.59 (+4.97%)

, SQ

Square

$79.79 /

-0.58 (-0.72%)

, CPRI

Capri Holdings

$13.98 /

+1.1 (+8.54%)

, ADP

ADP

$135.11 /

+0.23 (+0.17%)

, WDAY

Workday

$153.89 /

-0.34 (-0.22%)

Catch up on today's…

Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Cinemark (CNK) downgraded to Neutral from Buy at B. Riley FBR with analyst Eric Wold saying he is "increasingly concerned" around the potential for a second half of 2020 rebound as well as the company's exposure to Brazil as the COVID-19 pandemic worsens in that country. 2. Square (SQ) was downgraded to Equal Weight from Overweight at Stephens and to Underperform from Buy at BofA. 3. Capri Holdings (CPRI) downgraded to Neutral from Overweight at Piper Sandler with analyst Erinn Murphy saying her former thesis former thesis of accelerating growth for Versace and Jimmy Choo will take longer to materialize given the "unprecedented macro backdrop." 4. ADP (ADP) downgraded to Underperform from Neutral at BofA with analyst Jason Kupferberg saying while various U.S. states are undergoing a gradual economic re-opening among bricks-and-mortar merchants, the trough in churn among small and mid-sized businesses has yet to take place. 5. Workday (WDAY) downgraded to Neutral from Buy at Cleveland Research. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

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WDAY Workday
$153.89 /

-0.34 (-0.22%)

SQ Square
$79.79 /

-0.58 (-0.72%)

CPRI Capri Holdings
$13.98 /

+1.1 (+8.54%)

CNK Cinemark
$12.47 /

+0.59 (+4.97%)

ADP ADP
$135.11 /

+0.23 (+0.17%)

CNK Cinemark
$12.47 /

+0.59 (+4.97%)

05/18/20 B. Riley FBR
B. Riley FBR downgrades Cinemark on second half recovery concerns
05/18/20 B. Riley FBR
Cinemark downgraded to Neutral from Buy at B. Riley FBR
04/23/20 Macquarie
Cinemark upgraded to Outperform from Neutral at Macquarie
04/17/20 B. Riley FBR
White House guidelines give some clarity to film exhibitors, says B. Riley FBR
SQ Square
$79.79 /

-0.58 (-0.72%)

05/18/20 BofA
Square downgraded to Underperform from Buy at BofA
05/18/20 Stephens
Square downgraded to Equal Weight on valuation at Stephens
05/18/20 Stephens
Square downgraded to Equal Weight from Overweight at Stephens
05/11/20 Barclays
Square price target raised to $82 from $62 at Barclays
CPRI Capri Holdings
$13.98 /

+1.1 (+8.54%)

05/18/20 Piper Sandler
Capri Holdings downgraded to Neutral from Overweight at Piper Sandler
04/28/20 BTIG
Capri Holdings initiated with a Neutral at BTIG
04/08/20 Piper Sandler
Piper lays out winners and losers in survey of 5,200 teens
03/30/20 Wells Fargo
Capri Holdings downgraded to Equal Weight from Overweight at Wells Fargo
ADP ADP
$135.11 /

+0.23 (+0.17%)

05/18/20 BofA
ADP downgraded to Underperform on small business risk at BofA
05/18/20 BofA
ADP downgraded to Underperform from Neutral at BofA
04/29/20 Credit Suisse
TriNet price target raised to $44 from $38 at Credit Suisse
04/24/20 Cowen
ADP price target lowered to $158 from $195 at Cowen
WDAY Workday
$153.89 /

-0.34 (-0.22%)

05/18/20 Cleveland Research
Workday downgraded to Neutral from Buy at Cleveland Research
05/18/20 RBC Capital
Workday price target lowered to $194 from $230 at RBC Capital
05/04/20 Rosenblatt
Rosenblatt starts Workday with Sell rating on growth concerns
05/04/20 Rosenblatt
Workday initiated with a Sell at Rosenblatt
WDAY Workday
$153.89 /

-0.34 (-0.22%)

SQ Square
$79.79 /

-0.58 (-0.72%)

CPRI Capri Holdings
$13.98 /

+1.1 (+8.54%)

CNK Cinemark
$12.47 /

+0.59 (+4.97%)

ADP ADP
$135.11 /

+0.23 (+0.17%)

SQ Square
$79.79 /

-0.58 (-0.72%)

CNK Cinemark
$12.47 /

+0.59 (+4.97%)

WDAY Workday
$153.89 /

-0.34 (-0.22%)

SQ Square
$79.79 /

-0.58 (-0.72%)

CPRI Capri Holdings
$13.98 /

+1.1 (+8.54%)

CNK Cinemark
$12.47 /

+0.59 (+4.97%)

WDAY Workday
$153.89 /

-0.34 (-0.22%)

SQ Square
$79.79 /

-0.58 (-0.72%)

CPRI Capri Holdings
$13.98 /

+1.1 (+8.54%)

CNK Cinemark
$12.47 /

+0.59 (+4.97%)

Downgrade
B. Riley FBR downgrades Cinemark on second half recovery concerns » 08:41
05/18/20
05/18
08:41
05/18/20
08:41
CNK

Cinemark

$11.88 /

-0.11 (-0.92%)

B. Riley FBR analyst Eric…

B. Riley FBR analyst Eric Wold downgraded Cinemark Holdings to Neutral from Buy with a price target of $13, down from $16. The analyst is "increasingly concerned" around the potential for a second half of 2020 rebound as well as the company's exposure to Brazil as the COVID-19 pandemic worsens in that country. He sees continued uncertainty with key state openings in the U.S. and believes the second half of 2020 film release calendar "could still be in flux." Further, Cinemark shares are up 42% since Wold's upgrade on April 6.

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CNK Cinemark
$11.88 /

-0.11 (-0.92%)

CNK Cinemark
$11.88 /

-0.11 (-0.92%)

05/18/20 B. Riley FBR
Cinemark downgraded to Neutral from Buy at B. Riley FBR
04/23/20 Macquarie
Cinemark upgraded to Outperform from Neutral at Macquarie
04/17/20 B. Riley FBR
White House guidelines give some clarity to film exhibitors, says B. Riley FBR
04/14/20 MKM Partners
Cinemark price target lowered to $19 from $32 at MKM Partners
CNK Cinemark
$11.88 /

-0.11 (-0.92%)

CNK Cinemark
$11.88 /

-0.11 (-0.92%)

CNK Cinemark
$11.88 /

-0.11 (-0.92%)

CNK Cinemark
$11.88 /

-0.11 (-0.92%)

Downgrade
Cinemark downgraded to Neutral from Buy at B. Riley FBR » 04:38
05/18/20
05/18
04:38
05/18/20
04:38
CNK

Cinemark

$11.88 /

-0.11 (-0.92%)

B. Riley FBR analyst Eric…

B. Riley FBR analyst Eric Wold downgraded Cinemark Holdings to Neutral from Buy with a price target of $13, down from $16.

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CNK Cinemark
$11.88 /

-0.11 (-0.92%)

CNK Cinemark
$11.88 /

-0.11 (-0.92%)

04/23/20 Macquarie
Cinemark upgraded to Outperform from Neutral at Macquarie
04/17/20 B. Riley FBR
White House guidelines give some clarity to film exhibitors, says B. Riley FBR
04/14/20 MKM Partners
Cinemark price target lowered to $19 from $32 at MKM Partners
04/08/20 Loop Capital
Cinemark price target lowered to $22 from $35 at Loop Capital
CNK Cinemark
$11.88 /

-0.11 (-0.92%)

CNK Cinemark
$11.88 /

-0.11 (-0.92%)

CNK Cinemark
$11.88 /

-0.11 (-0.92%)

CNK Cinemark
$11.88 /

-0.11 (-0.92%)

Over a month ago
Upgrade
Cinemark upgraded to Outperform from Neutral at Macquarie » 08:41
04/23/20
04/23
08:41
04/23/20
08:41
CNK

Cinemark

$12.53 /

-1.01 (-7.46%)

Macquarie analyst Chad…

Macquarie analyst Chad Beynon upgraded Cinemark to Outperform from Neutral with a $20 price target.

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CNK Cinemark
$12.53 /

-1.01 (-7.46%)

04/17/20 B. Riley FBR
White House guidelines give some clarity to film exhibitors, says B. Riley FBR
04/14/20 MKM Partners
Cinemark price target lowered to $19 from $32 at MKM Partners
04/08/20 Loop Capital
Cinemark price target lowered to $22 from $35 at Loop Capital
04/06/20 B. Riley FBR
B. Riley FBR sees attractive entry point for Cinemark, upgrades to Buy
Recommendations
White House guidelines give some clarity to film exhibitors, says B. Riley FBR » 08:29
04/17/20
04/17
08:29
04/17/20
08:29
NCMI

National CineMedia

$2.69 /

+0.135 (+5.29%)

, IMAX

Imax

$10.12 /

-0.09 (-0.88%)

, AMC

AMC Entertainment

$2.44 /

+0.03 (+1.24%)

, CNK

Cinemark

$11.66 /

+0.2 (+1.75%)

, MCS

Marcus

$12.55 /

-0.77 (-5.78%)

B. Riley FBR analyst Eric…

B. Riley FBR analyst Eric Wold views the "Opening Up America Again" guidelines issued by the White House last night, which allow movie theaters to operate physical-distancing protocols that get eased in three phases, as an incremental positive for the film exhibition stocks he covers. However, he stills expect this to be a multi-month time line from here and remains comfortable with his expectation of a mid-June restart for movie going, Wold noted. He has Buy ratings on National CineMedia (NCMI), Cinemark (CNK) and Imax (IMAX), a Neutral rating on Marcus (MCS) and a Sell rating on AMC Entertainment (AMC).

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NCMI National CineMedia
$2.69 /

+0.135 (+5.29%)

03/18/20 Benchmark
Benchmark cuts National CineMedia to Hold as Universal goes to home with Trolls
03/18/20 Barrington
National CineMedia downgraded to Market Perform from Outperform at Barrington
03/18/20 Benchmark
National CineMedia downgraded to Hold from Buy at Benchmark
03/02/20 B. Riley FBR
National CineMedia upgraded to Buy with $9 price target at B. Riley FBR
IMAX Imax
$10.12 /

-0.09 (-0.88%)

04/15/20 MKM Partners
Imax price target lowered to $20 from $24 at MKM Partners
03/24/20 Barrington
Imax price target lowered to $15 from $20 at Barrington
03/17/20
Fly Intel: Top five analyst downgrades
AMC AMC Entertainment
$2.44 /

+0.03 (+1.24%)

04/15/20
Fly Intel: Top five analyst downgrades
04/15/20 Imperial Capital
AMC Entertainment downgraded to In-Line from Outperform at Imperial Capital
04/13/20 B. Riley FBR
AMC Entertainment downgraded to Sell from Neutral at B. Riley FBR
04/09/20 MKM Partners
AMC Entertainment downgraded to Sell from Neutral at MKM Partners
CNK Cinemark
$11.66 /

+0.2 (+1.75%)

04/14/20 MKM Partners
Cinemark price target lowered to $19 from $32 at MKM Partners
04/08/20 Loop Capital
Cinemark price target lowered to $22 from $35 at Loop Capital
04/06/20 B. Riley FBR
B. Riley FBR sees attractive entry point for Cinemark, upgrades to Buy
04/06/20 B. Riley FBR
Cinemark upgraded to Buy from Neutral at B. Riley FBR
MCS Marcus
$12.55 /

-0.77 (-5.78%)

04/15/20 Benchmark
Marcus upgraded to Buy on long-term optimism at Benchmark
04/15/20 Benchmark
Marcus upgraded to Buy from Hold at Benchmark
04/01/20 B. Riley FBR
Marcus price target lowered to $16 from $19 at B. Riley FBR
03/23/20 Benchmark
Marcus downgraded to Hold on film and hotel troubles at Benchmark
Conference/Events
Cinemark to host conference call » 11:20
04/15/20
04/15
11:20
04/15/20
11:20
CNK

Cinemark

$10.64 /

-0.8 (-6.99%)

Conference call to…

Conference call to discuss liquidity strategy and impact of COVID-19 on April 15 at 11:30 am. Webcast Link

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CNK Cinemark
$10.64 /

-0.8 (-6.99%)

04/14/20 MKM Partners
Cinemark price target lowered to $19 from $32 at MKM Partners
04/08/20 Loop Capital
Cinemark price target lowered to $22 from $35 at Loop Capital
04/06/20 B. Riley FBR
B. Riley FBR sees attractive entry point for Cinemark, upgrades to Buy
04/06/20 B. Riley FBR
Cinemark upgraded to Buy from Neutral at B. Riley FBR
Conference/Events
Cinemark to host conference call » 08:42
04/15/20
04/15
08:42
04/15/20
08:42
CNK

Cinemark

$11.44 /

+0.655 (+6.07%)

Conference call to…

Conference call to discuss liquidity strategy and impact of COVID-19 on April 15 at 11:30 am. Webcast Link

ShowHide Related Items >><<
CNK Cinemark
$11.44 /

+0.655 (+6.07%)

04/14/20 MKM Partners
Cinemark price target lowered to $19 from $32 at MKM Partners
04/08/20 Loop Capital
Cinemark price target lowered to $22 from $35 at Loop Capital
04/06/20 B. Riley FBR
B. Riley FBR sees attractive entry point for Cinemark, upgrades to Buy
04/06/20 B. Riley FBR
Cinemark upgraded to Buy from Neutral at B. Riley FBR
Recommendations
Cinemark price target lowered to $19 from $32 at MKM Partners » 09:28
04/14/20
04/14
09:28
04/14/20
09:28
CNK

Cinemark

$10.79 /

-1.715 (-13.72%)

MKM Partners analyst Eric…

MKM Partners analyst Eric Handler lowered the firm's price target on Cinemark to $19 from $32 but keeps a Buy rating on the shares. The analyst notes that the company has raised $250M through senior debt placement and also implemented a dividend cut, temporary reduction of employee salaries, and lay-off for 17.5K domestic hourly theater employees, reflecting a box office environment that assumes all theaters being closed until late July. Handler remains positive on the stock however, with the management suggesting in its 8-k filing yesterday that even if theatres remained closed for the remainder of this year, the company has sufficient cash to sustain its operations in 2020.

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CNK Cinemark
$10.79 /

-1.715 (-13.72%)

04/08/20 Loop Capital
Cinemark price target lowered to $22 from $35 at Loop Capital
04/06/20 B. Riley FBR
B. Riley FBR sees attractive entry point for Cinemark, upgrades to Buy
04/06/20 B. Riley FBR
Cinemark upgraded to Buy from Neutral at B. Riley FBR
04/01/20 B. Riley FBR
Cinemark price target lowered to $14 from $17 at B. Riley FBR
Hot Stocks
Cinemark suspends dividend, lays off 17.5K domestic hourly theatre employees » 09:19
04/14/20
04/14
09:19
04/14/20
09:19
CNK

Cinemark

$10.79 /

-1.715 (-13.72%)

In a regulatory 8-K…

In a regulatory 8-K filing released yesterday, Cinemark disclosed COVID-19 related measures. These included: "Halted all non-essential operating and capital expenditures, such as marketing promotions and initiatives, travel and entertainment, system enhancements and related consulting projects, recliner conversions, XD expansions and certain other theatre enhancements, all of which are expected to significantly reduce our utilities and other costs, general and administrative expenses and capital expenditures on a temporary basis; suspended our quarterly dividend, which is anticipated to preserve approximately $42.0 million each quarter; implemented a formal daily review and approval process by our chief financial officer for all outgoing procurement and payment requests; made the decision to (i) lay-off over 17,500 of our domestic hourly theatre employees, furlough 50% of our headquarter employees at 20% of salary (with full benefits) and reduce salaries of remaining employees by 50% and (ii) pursue similar actions in our international markets to the extent permitted by local laws, which are expected to significantly reduce our salaries and wages expenses and general administrative expenses on a temporary basis; and started working actively with landlords and major suppliers to modify the timing of certain contractual payments."

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CNK Cinemark
$10.79 /

-1.715 (-13.72%)

04/08/20 Loop Capital
Cinemark price target lowered to $22 from $35 at Loop Capital
04/06/20 B. Riley FBR
B. Riley FBR sees attractive entry point for Cinemark, upgrades to Buy
04/06/20 B. Riley FBR
Cinemark upgraded to Buy from Neutral at B. Riley FBR
04/01/20 B. Riley FBR
Cinemark price target lowered to $14 from $17 at B. Riley FBR
Recommendations
Cinemark price target lowered to $22 from $35 at Loop Capital » 08:12
04/08/20
04/08
08:12
04/08/20
08:12
CNK

Cinemark

$10.84 /

+1.56 (+16.81%)

Loop Capital analyst Alan…

Loop Capital analyst Alan Gould lowered the firm's price target on Cinemark to $22 from $35 but keeps a Buy rating on the shares. The analyst notes that the company passes his COVID-19 stress test that assumes quarterly attendance declines of 29%, 100%, 33% and 20% this year, also stating that it is "well capitalized" with the lowest relative fixed costs next to its competition. Gould adds that Cinemark offers consistently strong execution and balance sheet, further forecasting that it will likely find some attractive acquisition opportunities.

ShowHide Related Items >><<
CNK Cinemark
$10.84 /

+1.56 (+16.81%)

04/06/20 B. Riley FBR
B. Riley FBR sees attractive entry point for Cinemark, upgrades to Buy
04/06/20 B. Riley FBR
Cinemark upgraded to Buy from Neutral at B. Riley FBR
04/01/20 B. Riley FBR
Cinemark price target lowered to $14 from $17 at B. Riley FBR
03/25/20 Barrington
Cinemark price target lowered to $20 from $35 at Barrington

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