B. Riley Financial Issues Pessimistic Forecast for Cinemark (NYSE:CNK) Stock Price

Cinemark (NYSE:CNK) had its price target reduced by investment analysts at B. Riley Financial from $36.00 to $35.00 in a report issued on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. B. Riley Financial’s target price would indicate a potential upside of 15.07% from the company’s previous close.

A number of other analysts have also weighed in on CNK. JPMorgan Chase & Co. raised their price objective on shares of Cinemark from $35.00 to $36.00 and gave the company an “overweight” rating in a research note on Monday, May 4th. Guggenheim set a $37.00 target price on shares of Cinemark in a research note on Thursday, July 2nd. Morgan Stanley increased their price target on shares of Cinemark from $30.00 to $36.00 and gave the company an “equal weight” rating in a report on Tuesday, June 9th. Weiss Ratings reissued a “hold (c)” rating on shares of Cinemark in a research report on Wednesday, June 24th. Finally, Wall Street Zen upgraded shares of Cinemark from a “hold” rating to a “buy” rating in a report on Sunday, May 31st. Seven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Cinemark presently has an average rating of “Moderate Buy” and an average price target of $34.58.

Cinemark Stock Up 1.9%

Shares of NYSE:CNK opened at $30.42 on Friday. The company has a current ratio of 0.62, a quick ratio of 0.58 and a debt-to-equity ratio of 5.03. The stock has a fifty day simple moving average of $30.12 and a two-hundred day simple moving average of $27.76. Cinemark has a 12-month low of $21.60 and a 12-month high of $34.73. The stock has a market capitalization of $3.55 billion, a price-to-earnings ratio of 26.92 and a beta of 0.98.

Cinemark (NYSE:CNK) last issued its quarterly earnings results on Friday, May 1st. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The company had revenue of $643.10 million for the quarter, compared to the consensus estimate of $632.74 million. Cinemark had a net margin of 5.31% and a return on equity of 41.31%. Cinemark’s revenue was up 18.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.32) earnings per share. On average, research analysts anticipate that Cinemark will post 2.18 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Orbis Allan Gray Ltd increased its position in shares of Cinemark by 31.0% during the 4th quarter. Orbis Allan Gray Ltd now owns 15,057,911 shares of the company’s stock valued at $349,946,000 after purchasing an additional 3,563,810 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Cinemark by 8.4% in the fourth quarter. Wellington Management Group LLP now owns 9,536,900 shares of the company’s stock worth $221,638,000 after buying an additional 742,307 shares during the last quarter. Lavaca Capital LLC purchased a new position in shares of Cinemark in the fourth quarter worth approximately $133,045,000. State Street Corp grew its position in Cinemark by 1.5% during the fourth quarter. State Street Corp now owns 3,950,606 shares of the company’s stock valued at $91,812,000 after buying an additional 60,176 shares during the period. Finally, Alyeska Investment Group L.P. bought a new stake in Cinemark during the fourth quarter valued at approximately $55,296,000.

Cinemark Company Profile

Cinemark Holdings, Inc (NYSE: CNK) is a leading theatrical exhibitor that acquires, develops and operates motion picture theatres under the Cinemark® brand in the United States and Latin America. The company’s core business involves the presentation of first-run feature films coupled with an array of in‐theatre services, including concessions, premium auditoriums and loyalty programs. Cinemark’s exhibition portfolio encompasses both corporate‐owned and franchised complexes, offering moviegoers a range of experiences from standard screens to large‐format halls.

The company’s product offerings extend beyond ticket sales to include an assortment of concession items, such as popcorn, fountain beverages, candy and specialty snacks, as well as bar and lounge concepts in select locations.