Brokerages Set Cinemark Holdings, Inc. (NYSE:CNK) Price Target at $20.11

Shares of Cinemark Holdings, Inc. (NYSE:CNK) have been given a consensus rating of “Hold” by the nine research firms that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $20.11.

CNK has been the subject of several research analyst reports. Barrington Research restated an “outperform” rating and issued a $24.00 price objective on shares of Cinemark in a research note on Monday. The Goldman Sachs Group dropped their price objective on shares of Cinemark from $16.00 to $12.00 and set a “sell” rating on the stock in a report on Thursday, January 11th. B. Riley cut shares of Cinemark from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $23.00 to $15.00 in a report on Tuesday, January 2nd. Wells Fargo & Company raised shares of Cinemark from an “underweight” rating to an “overweight” rating and upped their price target for the company from $13.00 to $23.00 in a report on Friday, April 5th. Finally, JPMorgan Chase & Co. lifted their price objective on Cinemark from $17.00 to $19.00 and gave the company a “neutral” rating in a research note on Monday, April 8th.

Cinemark Stock Performance

Shares of Cinemark stock opened at $17.48 on Tuesday. The firm has a market capitalization of $2.13 billion, a P/E ratio of 14.21, a PEG ratio of 2.11 and a beta of 2.27. Cinemark has a 52 week low of $13.19 and a 52 week high of $20.40. The company has a quick ratio of 1.42, a current ratio of 1.45 and a debt-to-equity ratio of 7.73. The company has a 50 day moving average price of $17.77 and a 200 day moving average price of $15.87.

Cinemark (NYSE:CNK) last posted 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). The company had revenue of $638.90 million for the quarter, compared to analyst estimates of $619.67 million. Cinemark had a return on equity of 72.91% and a net margin of 6.14%. The company’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.82) earnings per share. Sell-side analysts expect that Cinemark will post 0.85 EPS for the current year.

Insider Activity

In other Cinemark news, insider Wanda Marie Gierhart sold 19,593 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 179,591 shares in the company, valued at $3,008,149.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On Cinemark

A number of large investors have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. raised its holdings in shares of Cinemark by 30.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 288,058 shares of the company’s stock valued at $4,059,000 after acquiring an additional 67,851 shares during the last quarter. Federated Hermes Inc. lifted its holdings in Cinemark by 17.0% in the 4th quarter. Federated Hermes Inc. now owns 696,859 shares of the company’s stock valued at $9,819,000 after purchasing an additional 101,272 shares in the last quarter. Schonfeld Strategic Advisors LLC boosted its stake in Cinemark by 276.6% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 189,074 shares of the company’s stock worth $3,470,000 after purchasing an additional 138,874 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Cinemark by 1.6% during the third quarter. Vanguard Group Inc. now owns 13,844,490 shares of the company’s stock worth $254,046,000 after buying an additional 214,102 shares in the last quarter. Finally, Rhumbline Advisers grew its holdings in shares of Cinemark by 0.5% during the third quarter. Rhumbline Advisers now owns 338,643 shares of the company’s stock worth $6,214,000 after buying an additional 1,574 shares in the last quarter.

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.