Cinemark (NYSE:CNK) Given New $23.00 Price Target at Wedbush

Cinemark (NYSE:CNK) had its price target hoisted by Wedbush from $20.00 to $23.00 in a report issued on Thursday morning, Benzinga reports. They currently have an outperform rating on the stock.

Other research analysts have also issued research reports about the stock. B. Riley lowered shares of Cinemark from a buy rating to a neutral rating and lowered their price objective for the company from $23.00 to $15.00 in a research note on Tuesday, January 2nd. Wells Fargo & Company upgraded shares of Cinemark from an underweight rating to an overweight rating and raised their price objective for the company from $13.00 to $23.00 in a research note on Friday, April 5th. The Goldman Sachs Group lowered their price objective on shares of Cinemark from $16.00 to $12.00 and set a sell rating on the stock in a research note on Thursday, January 11th. JPMorgan Chase & Co. lifted their price target on shares of Cinemark from $17.00 to $19.00 and gave the stock a neutral rating in a research report on Monday, April 8th. Finally, Benchmark restated a buy rating and issued a $22.00 price target on shares of Cinemark in a research report on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Hold and an average target price of $19.89.

Cinemark Stock Performance

CNK opened at $18.13 on Thursday. The business’s 50 day moving average is $17.55 and its 200-day moving average is $15.90. The stock has a market cap of $2.20 billion, a PE ratio of 14.74, a price-to-earnings-growth ratio of 2.18 and a beta of 2.27. The company has a current ratio of 1.45, a quick ratio of 1.42 and a debt-to-equity ratio of 7.73. Cinemark has a twelve month low of $13.19 and a twelve month high of $20.40.

Cinemark (NYSE:CNK) last posted its quarterly earnings data on Friday, February 16th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.08). Cinemark had a net margin of 6.14% and a return on equity of 72.91%. The company had revenue of $638.90 million for the quarter, compared to analyst estimates of $619.67 million. During the same quarter in the prior year, the business earned ($0.82) EPS. Cinemark’s revenue was up 6.5% compared to the same quarter last year. On average, analysts predict that Cinemark will post 0.83 earnings per share for the current year.

Insiders Place Their Bets

In other Cinemark news, insider Wanda Marie Gierhart sold 19,593 shares of Cinemark stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $16.75, for a total transaction of $328,182.75. Following the transaction, the insider now directly owns 179,591 shares in the company, valued at approximately $3,008,149.25. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On Cinemark

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. grew its position in Cinemark by 7.2% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 9,082 shares of the company’s stock worth $150,000 after purchasing an additional 607 shares in the last quarter. NBC Securities Inc. boosted its stake in shares of Cinemark by 17.2% during the 4th quarter. NBC Securities Inc. now owns 4,764 shares of the company’s stock valued at $67,000 after buying an additional 700 shares during the period. Tower Research Capital LLC TRC boosted its stake in shares of Cinemark by 38.8% during the 1st quarter. Tower Research Capital LLC TRC now owns 2,680 shares of the company’s stock valued at $39,000 after buying an additional 749 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of Cinemark by 14.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 6,467 shares of the company’s stock valued at $107,000 after purchasing an additional 808 shares during the last quarter. Finally, Watershed Asset Management L.L.C. lifted its stake in shares of Cinemark by 6.2% in the 4th quarter. Watershed Asset Management L.L.C. now owns 15,658 shares of the company’s stock valued at $221,000 after purchasing an additional 915 shares during 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.