Cinemark’s (CNK) “Outperform” Rating Reiterated at Wedbush

Cinemark (NYSE:CNK)‘s stock had its “outperform” rating restated by research analysts at Wedbush in a research note issued on Monday, Benzinga reports. They presently have a $25.00 price objective on the stock. Wedbush’s price objective would suggest a potential upside of 11.51% from the company’s current price.

Several other research firms also recently commented on CNK. StockNews.com downgraded Cinemark from a “hold” rating to a “sell” rating in a research report on Thursday, May 30th. Macquarie increased their target price on shares of Cinemark from $21.00 to $24.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 9th. Morgan Stanley lifted their price target on shares of Cinemark from $24.00 to $26.00 and gave the company an “overweight” rating in a research report on Thursday, July 18th. Roth Mkm raised Cinemark from a “neutral” rating to a “buy” rating and increased their price target for the stock from $19.00 to $26.00 in a research report on Monday, June 24th. Finally, Roth Capital upgraded Cinemark from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 24th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $22.90.

Cinemark Stock Performance

CNK traded up $0.43 during trading hours on Monday, reaching $22.42. The company’s stock had a trading volume of 500,946 shares, compared to its average volume of 2,982,853. The company’s 50-day moving average is $19.61 and its 200-day moving average is $17.77. Cinemark has a 52 week low of $13.19 and a 52 week high of $22.53. The firm has a market cap of $2.74 billion, a PE ratio of 15.46, a price-to-earnings-growth ratio of 2.02 and a beta of 2.36. The company has a debt-to-equity ratio of 7.42, a quick ratio of 1.45 and a current ratio of 1.48.

Cinemark (NYSE:CNK) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.40. The company had revenue of $579.00 million for the quarter, compared to analyst estimates of $561.91 million. Cinemark had a net margin of 7.12% and a return on equity of 69.48%. The company’s revenue was down 5.2% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.03) earnings per share. On average, equities analysts forecast that Cinemark will post 1.09 EPS for the current year.

Hedge Funds Weigh In On Cinemark

Hedge funds and other institutional investors have recently modified their holdings of the business. Assenagon Asset Management S.A. lifted its position in shares of Cinemark by 30.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 288,058 shares of the company’s stock worth $4,059,000 after buying an additional 67,851 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Cinemark in the 4th quarter valued at approximately $3,000,000. New York State Teachers Retirement System boosted its stake in shares of Cinemark by 6.9% in the 4th quarter. New York State Teachers Retirement System now owns 109,351 shares of the company’s stock valued at $1,541,000 after purchasing an additional 7,013 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Cinemark by 3.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 49,483 shares of the company’s stock worth $697,000 after purchasing an additional 1,786 shares in the last quarter. Finally, Louisiana State Employees Retirement System bought a new position in Cinemark in the 4th quarter valued at approximately $748,000.

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.