Wedbush Reiterates Outperform Rating for Cinemark (NYSE:CNK)

Wedbush reissued their outperform rating on shares of Cinemark (NYSE:CNK) in a research report released on Thursday morning, Benzinga reports. They currently have a $23.00 price objective on the stock. Wedbush also issued estimates for Cinemark’s Q1 2024 earnings at ($0.15) EPS, Q3 2024 earnings at $0.52 EPS, Q1 2025 earnings at ($0.06) EPS, Q3 2025 earnings at $0.55 EPS, Q4 2025 earnings at $0.55 EPS, FY2025 earnings at $1.66 EPS and FY2026 earnings at $1.93 EPS.

Several other research firms have also commented on CNK. Barrington Research reissued an outperform rating and set a $24.00 price objective on shares of Cinemark in a research note on Monday, April 22nd. B. Riley downgraded Cinemark from a buy rating to a neutral rating and cut their price target for the stock from $23.00 to $15.00 in a research note on Tuesday, January 2nd. Roth Mkm lifted their price objective on Cinemark from $17.00 to $19.00 and gave the company a neutral rating in a research note on Wednesday, April 10th. JPMorgan Chase & Co. increased their target price on Cinemark from $17.00 to $19.00 and gave the stock a neutral rating in a research note on Monday, April 8th. Finally, Benchmark reiterated a buy rating and issued a $22.00 price target on shares of Cinemark in a research note on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Hold and an average price target of $20.11.

Cinemark Trading Up 1.0 %

CNK opened at $17.65 on Thursday. The company has a quick ratio of 1.42, a current ratio of 1.45 and a debt-to-equity ratio of 7.73. Cinemark has a 52 week low of $13.19 and a 52 week high of $20.40. The stock has a market cap of $2.15 billion, a PE ratio of 14.35, a PEG ratio of 2.08 and a beta of 2.27. The business has a 50 day moving average of $17.79 and a 200-day moving average of $15.82.

Cinemark (NYSE:CNK) last announced its quarterly earnings data on Friday, February 16th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.08). Cinemark had a net margin of 6.14% and a return on equity of 72.91%. The firm had revenue of $638.90 million for the quarter, compared to analysts’ expectations of $619.67 million. During the same period in the prior year, the business posted ($0.82) EPS. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. Equities research analysts predict that Cinemark will post 0.85 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Wanda Marie Gierhart sold 19,593 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $16.75, for a total transaction of $328,182.75. Following the completion of the transaction, the insider now directly owns 179,591 shares of the company’s stock, valued at $3,008,149.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.30% of the company’s stock.

Institutional Trading of Cinemark

Several large investors have recently modified their holdings of CNK. NBC Securities Inc. purchased a new stake in Cinemark during the third quarter valued at approximately $74,000. DekaBank Deutsche Girozentrale purchased a new stake in Cinemark in the third quarter worth about $193,000. Algert Global LLC bought a new position in shares of Cinemark in the third quarter worth about $222,000. Virtu Financial LLC purchased a new position in shares of Cinemark during the 4th quarter valued at about $192,000. Finally, Mackenzie Financial Corp bought a new position in shares of Cinemark during the 4th quarter valued at approximately $210,000.

About Cinemark

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.