Cinemark (NYSE:CNK) Receives Outperform Rating from Barrington Research

Barrington Research reiterated their outperform rating on shares of Cinemark (NYSE:CNK) in a research note issued to investors on Friday, MarketBeat.com reports. They currently have a $24.00 price objective on the stock.

Other analysts also recently issued research reports about the company. Benchmark reiterated a buy rating and set a $23.00 price target on shares of Cinemark in a research report on Monday, July 1st. Wedbush reissued an outperform rating and set a $25.00 target price on shares of Cinemark in a research note on Monday, July 29th. StockNews.com lowered Cinemark from a hold rating to a sell rating in a research report on Thursday, May 30th. Roth Mkm upgraded Cinemark from a neutral rating to a buy rating and lifted their price target for the company from $19.00 to $26.00 in a research report on Monday, June 24th. Finally, Wells Fargo & Company raised Cinemark from an underweight rating to an overweight rating and boosted their target price for the stock from $13.00 to $23.00 in a report on Friday, April 5th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Cinemark currently has a consensus rating of Moderate Buy and an average price target of $24.60.

Cinemark Price Performance

CNK stock opened at $25.42 on Friday. Cinemark has a 52-week low of $13.19 and a 52-week high of $25.51. The business has a 50-day simple moving average of $20.18 and a two-hundred day simple moving average of $18.12. The company has a market capitalization of $3.11 billion, a P/E ratio of 17.53, a price-to-earnings-growth ratio of 2.14 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 posted its quarterly earnings results on Friday, August 2nd. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.25. Cinemark had a net margin of 7.12% and a return on equity of 69.48%. The company had revenue of $734.20 million for the quarter, compared to analysts’ expectations of $691.74 million. During the same quarter in the previous year, the firm posted $0.80 EPS. Cinemark’s revenue was down 22.1% on a year-over-year basis. Research analysts expect that Cinemark will post 1.08 EPS for the current fiscal year.

Institutional Trading of Cinemark

Several large investors have recently added to or reduced their stakes in CNK. 1620 Investment Advisors Inc. purchased a new stake in shares of Cinemark in the second quarter worth about $79,000. Fifth Third Bancorp raised its holdings in shares of Cinemark by 414.4% during the second quarter. Fifth Third Bancorp now owns 4,480 shares of the company’s stock valued at $97,000 after acquiring an additional 3,609 shares during the last quarter. NBC Securities Inc. raised its holdings in shares of Cinemark by 17.2% during the fourth quarter. NBC Securities Inc. now owns 4,764 shares of the company’s stock valued at $67,000 after acquiring an additional 700 shares during the last quarter. First Dallas Securities Inc. acquired a new position in shares of Cinemark during the second quarter valued at approximately $208,000. Finally, Inspire Advisors LLC purchased a new stake in shares of Cinemark in the first quarter valued at approximately $240,000.

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.