Cinemark (NYSE:CNK) Receives “Outperform” Rating from Barrington Research

Cinemark (NYSE:CNK)‘s stock had its “outperform” rating reaffirmed by investment analysts at Barrington Research in a report released on Monday, Benzinga reports. They presently have a $24.00 price target on the stock. Barrington Research’s price objective would suggest a potential upside of 38.09% from the company’s current price.

CNK has been the topic of a number of other research reports. Wedbush reiterated an “outperform” rating and set a $23.00 price objective on shares of Cinemark in a research note on Thursday, April 25th. Wells Fargo & Company raised Cinemark from an “underweight” rating to an “overweight” rating and boosted their target price for the stock from $13.00 to $23.00 in a report on Friday, April 5th. StockNews.com lowered Cinemark from a “hold” rating to a “sell” rating in a report on Friday, May 3rd. JPMorgan Chase & Co. boosted their target price on Cinemark from $17.00 to $19.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Finally, B. Riley boosted their target price on Cinemark from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Cinemark has a consensus rating of “Hold” and a consensus target price of $20.33.

Cinemark Trading Up 2.2 %

NYSE CNK opened at $17.38 on Monday. The firm has a market cap of $2.13 billion, a P/E ratio of 11.99, a P/E/G ratio of 2.06 and a beta of 2.25. The company has a debt-to-equity ratio of 7.42, a current ratio of 1.48 and a quick ratio of 1.45. The stock’s 50-day moving average is $17.94 and its 200-day moving average is $15.86. Cinemark has a one year low of $13.19 and a one year high of $20.40.

Cinemark (NYSE:CNK) last announced its earnings results on Thursday, May 2nd. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.40. Cinemark had a return on equity of 69.48% and a net margin of 7.12%. The business had revenue of $579.00 million for the quarter, compared to analyst estimates of $561.91 million. During the same quarter last year, the firm earned ($0.03) EPS. Cinemark’s revenue for the quarter was down 5.2% compared to the same quarter last year. Sell-side analysts anticipate that Cinemark will post 0.86 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Cinemark news, insider Wanda Marie Gierhart sold 19,593 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $16.75, for a total transaction of $328,182.75. Following the sale, the insider now owns 179,591 shares in the company, valued at $3,008,149.25. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Cinemark

Several institutional investors have recently modified their holdings of CNK. NBC Securities Inc. lifted its stake in shares of Cinemark by 17.2% in the 4th quarter. NBC Securities Inc. now owns 4,764 shares of the company’s stock valued at $67,000 after acquiring an additional 700 shares during the last quarter. Virtu Financial LLC purchased a new position in Cinemark in the 4th quarter worth approximately $192,000. DekaBank Deutsche Girozentrale bought a new stake in Cinemark in the third quarter valued at approximately $193,000. Mackenzie Financial Corp purchased a new stake in shares of Cinemark during the fourth quarter valued at approximately $210,000. Finally, Watershed Asset Management L.L.C. grew its holdings in shares of Cinemark by 6.2% in the fourth quarter. Watershed Asset Management L.L.C. now owns 15,658 shares of the company’s stock worth $221,000 after purchasing an additional 915 shares during the last quarter.

Cinemark Company Profile

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.