Cinemark Holdings, Inc. (NYSE:CNK) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Cinemark Holdings, Inc. (NYSE:CNK) have received a consensus rating of “Moderate Buy” from the eleven research firms that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $22.70.

Several analysts have weighed in on CNK shares. StockNews.com lowered Cinemark from a “hold” rating to a “sell” rating in a report on Thursday, May 30th. Wells Fargo & Company upgraded Cinemark from an “underweight” rating to an “overweight” rating and upped their price objective for the company from $13.00 to $23.00 in a research report on Friday, April 5th. B. Riley raised shares of Cinemark from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $16.00 to $27.00 in a research report on Monday. JPMorgan Chase & Co. upped their target price on Cinemark from $17.00 to $19.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Finally, Roth Mkm upgraded Cinemark from a “neutral” rating to a “buy” rating and increased their target price for the stock from $19.00 to $26.00 in a research report on Monday, June 24th.

Institutional Trading of Cinemark

A number of hedge funds have recently made changes to their positions in CNK. Vanguard Group Inc. boosted its position in Cinemark by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 13,844,490 shares of the company’s stock valued at $254,046,000 after buying an additional 214,102 shares during the last quarter. Wellington Management Group LLP grew its stake in Cinemark by 1.7% in the third quarter. Wellington Management Group LLP now owns 13,550,176 shares of the company’s stock worth $248,646,000 after purchasing an additional 232,619 shares in the last quarter. Third Point LLC acquired a new position in Cinemark in the first quarter worth about $89,850,000. Dimensional Fund Advisors LP raised its position in shares of Cinemark by 9.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,568,871 shares of the company’s stock valued at $36,195,000 after acquiring an additional 213,593 shares in the last quarter. Finally, Steadfast Capital Management LP bought a new position in shares of Cinemark in the 1st quarter worth about $29,323,000.

Cinemark Stock Performance

NYSE:CNK opened at $21.56 on Friday. The firm’s fifty day simple moving average is $18.78 and its 200-day simple moving average is $17.14. The company has a quick ratio of 1.45, a current ratio of 1.48 and a debt-to-equity ratio of 7.42. The stock has a market cap of $2.64 billion, a PE ratio of 14.87, a price-to-earnings-growth ratio of 2.04 and a beta of 2.36. Cinemark has a fifty-two week low of $13.19 and a fifty-two week high of $22.19.

Cinemark (NYSE:CNK) last issued its earnings results on Thursday, May 2nd. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.40. Cinemark had a net margin of 7.12% and a return on equity of 69.48%. The company had revenue of $579.00 million for the quarter, compared to analyst estimates of $561.91 million. During the same period in the prior year, the business posted ($0.03) earnings per share. The firm’s revenue for the quarter was down 5.2% compared to the same quarter last year. Analysts expect that Cinemark will post 1.07 earnings per share for the current fiscal year.

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.