Cinemark (NYSE:CNK) Upgraded by Roth Mkm to “Buy”

Cinemark (NYSE:CNK) was upgraded by equities research analysts at Roth Mkm from a “neutral” rating to a “buy” rating in a research report issued on Monday, Briefing.com reports. The brokerage currently has a $26.00 target price on the stock, up from their previous target price of $19.00. Roth Mkm’s target price points to a potential upside of 33.47% from the stock’s current price.

Several other research firms have also recently commented on CNK. Benchmark restated a “buy” rating and issued a $23.00 target price on shares of Cinemark in a research report on Friday, May 3rd. B. Riley upped their price target on shares of Cinemark from $14.00 to $16.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. StockNews.com lowered shares of Cinemark from a “hold” rating to a “sell” rating in a research note on Thursday, May 30th. Wells Fargo & Company raised shares of Cinemark from an “underweight” rating to an “overweight” rating and upped their price target for the stock from $13.00 to $23.00 in a research note on Friday, April 5th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $24.00 price target on shares of Cinemark in a research note on Monday, June 17th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Cinemark currently has a consensus rating of “Hold” and an average target price of $21.33.

Cinemark Price Performance

NYSE CNK opened at $19.48 on Monday. Cinemark has a 52 week low of $13.19 and a 52 week high of $20.40. The company has a current ratio of 1.48, a quick ratio of 1.45 and a debt-to-equity ratio of 7.42. The stock has a market cap of $2.38 billion, a price-to-earnings ratio of 13.43, a price-to-earnings-growth ratio of 1.77 and a beta of 2.27. The company has a 50-day moving average price of $17.75 and a two-hundred day moving average price of $16.52.

Cinemark (NYSE:CNK) last posted its earnings results on Thursday, May 2nd. The company reported $0.19 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $561.91 million. During the same quarter in the prior year, the firm earned ($0.03) EPS. Cinemark’s quarterly revenue was down 5.2% on a year-over-year basis. Analysts forecast that Cinemark will post 1.1 EPS for the current year.

Institutional Investors Weigh In On Cinemark

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Cinemark by 1.6% during the third quarter. Vanguard Group Inc. now owns 13,844,490 shares of the company’s stock valued at $254,046,000 after acquiring an additional 214,102 shares during the period. Wellington Management Group LLP lifted its position in shares of Cinemark by 1.7% in the third quarter. Wellington Management Group LLP now owns 13,550,176 shares of the company’s stock worth $248,646,000 after buying an additional 232,619 shares during the last quarter. Third Point LLC acquired a new stake in shares of Cinemark in the first quarter worth about $89,850,000. Dimensional Fund Advisors LP lifted its position in shares of Cinemark by 9.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,568,871 shares of the company’s stock worth $36,195,000 after buying an additional 213,593 shares during the last quarter. Finally, Steadfast Capital Management LP acquired a new stake in shares of Cinemark in the first quarter worth about $29,323,000.

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.