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

Barrington Research reissued their outperform rating on shares of Cinemark (NYSE:CNK) in a report published on Monday, Benzinga reports. They currently have a $24.00 price objective on the stock.

Several other research firms have also commented on CNK. Wells Fargo & Company raised Cinemark from an underweight rating to an overweight rating and boosted their price target for the stock from $13.00 to $23.00 in a research report on Friday, April 5th. JPMorgan Chase & Co. raised their target price 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. StockNews.com downgraded shares of Cinemark from a hold rating to a sell rating in a report on Friday. B. Riley raised their target price on Cinemark from $14.00 to $16.00 and gave the stock a neutral rating in a research note on Friday. Finally, Roth Mkm boosted their price objective on Cinemark from $17.00 to $19.00 and gave the company a neutral rating in a research note on Wednesday, April 10th. Two analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus target price of $20.33.

Cinemark Stock Performance

CNK stock opened at $16.79 on Monday. The company has a debt-to-equity ratio of 7.42, a current ratio of 1.48 and a quick ratio of 1.45. The stock has a market capitalization of $2.05 billion, a PE ratio of 11.73, a price-to-earnings-growth ratio of 2.06 and a beta of 2.25. The company has a 50 day moving average price of $17.93 and a 200 day moving average price of $15.85. Cinemark has a fifty-two week low of $13.19 and a fifty-two week high of $20.40.

Cinemark (NYSE:CNK) last issued its earnings results on Thursday, May 2nd. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.40. Cinemark had a net margin of 7.12% and a return on equity of 69.48%. The firm had revenue of $579.00 million during the quarter, compared to analyst estimates of $561.91 million. During the same quarter last year, the business earned ($0.03) earnings per share. The company’s quarterly revenue was down 5.2% on a year-over-year basis. Analysts forecast that Cinemark will post 0.86 EPS for the current year.

Insider Transactions at Cinemark

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

Hedge Funds Weigh In On Cinemark

Several large investors have recently made changes to their positions in CNK. Hennessy Advisors Inc. acquired a new stake in shares of Cinemark during the 4th quarter valued at about $16,001,000. Norges Bank acquired a new position in shares of Cinemark during the 4th quarter worth $7,333,000. First Dallas Securities Inc. increased its position in Cinemark by 2,363.4% during the 3rd quarter. First Dallas Securities Inc. now owns 511,152 shares of the company’s stock worth $9,380,000 after purchasing an additional 490,402 shares in the last quarter. Jump Financial LLC grew its stake in shares of Cinemark by 2,874.3% during the 3rd quarter. Jump Financial LLC now owns 313,642 shares of the company’s stock valued at $5,755,000 after buying an additional 303,097 shares during the period. Finally, Peconic Partners LLC acquired a new stake in shares of Cinemark in the third quarter worth $5,505,000.

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.