Cinemark (NYSE:CNK) Given Buy Rating at Benchmark

Benchmark restated their buy rating on shares of Cinemark (NYSE:CNK) in a research note released on Friday, Benzinga reports. They currently have a $23.00 price target on the stock.

Other research analysts have also issued research reports about the stock. Wedbush reissued an outperform rating and set a $23.00 price objective on shares of Cinemark in a research note on Thursday, April 25th. JPMorgan Chase & Co. upped their price objective on shares of Cinemark from $17.00 to $19.00 and gave the company a neutral rating in a research report on Monday, April 8th. B. Riley lifted their target price on Cinemark from $14.00 to $16.00 and gave the stock a neutral rating in a report on Friday. Barrington Research restated an outperform rating and issued a $24.00 price target on shares of Cinemark in a report on Monday, April 22nd. Finally, Wells Fargo & Company upgraded Cinemark from an underweight rating to an overweight rating and lifted their price objective for the company from $13.00 to $23.00 in a report on Friday, April 5th. Two analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $20.33.

Cinemark Trading Up 0.7 %

NYSE CNK traded up $0.13 during trading hours on Friday, hitting $17.72. The company’s stock had a trading volume of 3,420,747 shares, compared to its average volume of 3,239,711. Cinemark has a twelve month low of $13.19 and a twelve month high of $20.40. The firm has a market capitalization of $2.15 billion, a P/E ratio of 12.22, a PEG ratio of 2.08 and a beta of 2.25. The company has a quick ratio of 1.42, a current ratio of 1.45 and a debt-to-equity ratio of 7.15. The stock has a fifty day moving average of $17.91 and a 200 day moving average of $15.85.

Cinemark (NYSE:CNK) last released its quarterly earnings data on Thursday, May 2nd. The company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.40. Cinemark had a return on equity of 69.48% and a net margin of 7.12%. The business had revenue of $579.00 million during the quarter, compared to the consensus estimate of $561.91 million. During the same quarter in the prior year, the company posted ($0.03) earnings per share. The firm’s revenue was down 5.2% on a year-over-year basis. Equities research analysts forecast that Cinemark will post 0.85 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Cinemark news, insider Wanda Marie Gierhart sold 19,593 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $16.75, for a total value of $328,182.75. Following the sale, the insider now owns 179,591 shares in the company, valued at approximately $3,008,149.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 2.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cinemark

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. NBC Securities Inc. grew its holdings in shares of Cinemark by 17.2% in the 4th quarter. NBC Securities Inc. now owns 4,764 shares of the company’s stock valued at $67,000 after acquiring an additional 700 shares in the last quarter. Watershed Asset Management L.L.C. increased its holdings in shares of Cinemark by 6.2% during the 4th quarter. Watershed Asset Management L.L.C. now owns 15,658 shares of the company’s stock worth $221,000 after acquiring an additional 915 shares during the last quarter. Los Angeles Capital Management LLC raised its stake in Cinemark by 1.7% in the 3rd quarter. Los Angeles Capital Management LLC now owns 58,368 shares of the company’s stock valued at $1,071,000 after acquiring an additional 967 shares during the period. First National Bank of Hutchinson lifted its holdings in Cinemark by 1.4% during the 3rd quarter. First National Bank of Hutchinson now owns 69,853 shares of the company’s stock valued at $1,282,000 after purchasing an additional 989 shares during the last quarter. Finally, Natixis Advisors L.P. boosted its position in Cinemark by 5.9% during the third quarter. Natixis Advisors L.P. now owns 22,210 shares of the company’s stock worth $408,000 after purchasing an additional 1,241 shares during the period.

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.