Cinemark (NYSE:CNK) Stock Rating Reaffirmed by Barrington Research

Cinemark (NYSE:CNK)‘s stock had its “outperform” rating reissued by Barrington Research in a report issued on Monday, Benzinga reports. They presently have a $24.00 price objective on the stock. Barrington Research’s price objective points to a potential upside of 34.60% from the stock’s previous close.

A number of other research analysts have also recently commented on CNK. The Goldman Sachs Group lowered their target price on Cinemark from $16.00 to $12.00 and set a “sell” rating for the company in a research note on Thursday, January 11th. Roth Mkm lifted their target price on Cinemark from $17.00 to $19.00 and gave the stock a “neutral” rating in a report on Wednesday, April 10th. Benchmark reissued a “buy” rating and issued a $22.00 target price on shares of Cinemark in a report on Wednesday, April 10th. Wedbush lifted their target price on Cinemark from $20.00 to $23.00 and gave the stock an “outperform” rating in a report on Thursday, April 18th. Finally, B. Riley lowered Cinemark from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $23.00 to $15.00 in a report on Tuesday, January 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $20.11.

Cinemark Price Performance

CNK opened at $17.83 on Monday. The stock’s 50 day simple moving average is $17.71 and its 200 day simple moving average is $15.85. The company has a debt-to-equity ratio of 7.73, a current ratio of 1.45 and a quick ratio of 1.42. Cinemark has a 1 year low of $13.19 and a 1 year high of $20.40. The firm has a market cap of $2.17 billion, a price-to-earnings ratio of 14.50, a PEG ratio of 2.15 and a beta of 2.27.

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

Insider Buying and Selling at Cinemark

In other Cinemark news, insider Wanda Marie Gierhart sold 19,593 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $16.75, for a total transaction of $328,182.75. Following the completion of the sale, the insider now 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 is accessible through the SEC website. 2.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Cinemark

Several hedge funds have recently bought and sold shares of the stock. Hennessy Advisors Inc. grew its holdings in Cinemark by 14.1% during the first quarter. Hennessy Advisors Inc. now owns 1,295,800 shares of the company’s stock valued at $23,286,000 after purchasing an additional 160,200 shares during the period. Virtu Financial LLC purchased a new stake in shares of Cinemark during the fourth quarter worth about $192,000. Peconic Partners LLC raised its stake in Cinemark by 66.7% during the 4th quarter. Peconic Partners LLC now owns 500,000 shares of the company’s stock valued at $7,045,000 after purchasing an additional 200,000 shares during the period. Park West Asset Management LLC lifted its holdings in Cinemark by 34.3% in the 4th quarter. Park West Asset Management LLC now owns 1,175,000 shares of the company’s stock worth $16,556,000 after purchasing an additional 300,000 shares in the last quarter. Finally, Kodai Capital Management LP bought a new position in Cinemark in the 4th quarter worth approximately $3,994,000.

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.