Cinemark’s (CNK) Outperform Rating Reaffirmed at Wedbush

Wedbush reaffirmed their outperform rating on shares of Cinemark (NYSE:CNK) in a report issued on Thursday morning, Benzinga reports. Wedbush currently has a $25.00 price objective on the stock. Wedbush also issued estimates for Cinemark’s Q3 2024 earnings at $0.53 EPS, Q4 2024 earnings at $0.57 EPS, Q4 2025 earnings at $0.67 EPS and FY2025 earnings at $1.78 EPS.

CNK has been the topic of several other reports. Roth Mkm raised Cinemark from a neutral rating to a buy rating and upped their price target for the company from $19.00 to $26.00 in a research report on Monday. Benchmark reaffirmed a buy rating and issued a $23.00 price target on shares of Cinemark in a report on Friday, May 3rd. Barrington Research reiterated an outperform rating and set a $24.00 price objective on shares of Cinemark in a research note on Monday, June 17th. B. Riley lifted their target price on Cinemark from $14.00 to $16.00 and gave the company a neutral rating in a research note on Friday, May 3rd. Finally, StockNews.com cut Cinemark from a hold rating to a sell rating in a research report on Thursday, May 30th. Two analysts have rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Cinemark currently has a consensus rating of Moderate Buy and an average target price of $21.33.

Cinemark Trading Down 0.6 %

NYSE CNK opened at $21.13 on Thursday. The company has a market capitalization of $2.59 billion, a price-to-earnings ratio of 14.57, a price-to-earnings-growth ratio of 2.00 and a beta of 2.27. The company has a debt-to-equity ratio of 7.42, a current ratio of 1.48 and a quick ratio of 1.45. Cinemark has a 12 month low of $13.19 and a 12 month high of $21.49. The company’s fifty day moving average price is $18.00 and its two-hundred day moving average price is $16.68.

Cinemark (NYSE:CNK) last issued its quarterly 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 business had revenue of $579.00 million for the quarter, compared to analysts’ expectations of $561.91 million. During the same quarter last year, the company posted ($0.03) earnings per share. The company’s quarterly revenue was down 5.2% compared to the same quarter last year. As a group, research analysts predict that Cinemark will post 1.07 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CNK. Hsbc Holdings PLC increased its stake in Cinemark by 496.2% during the 3rd quarter. Hsbc Holdings PLC now owns 218,077 shares of the company’s stock valued at $4,010,000 after buying an additional 181,497 shares during the period. Algert Global LLC acquired a new position in shares of Cinemark during the third quarter valued at approximately $222,000. Natixis Advisors L.P. increased its stake in shares of Cinemark by 5.9% during the third quarter. Natixis Advisors L.P. now owns 22,210 shares of the company’s stock valued at $408,000 after acquiring an additional 1,241 shares during the period. Teza Capital Management LLC raised its holdings in Cinemark by 52.5% during the third quarter. Teza Capital Management LLC now owns 63,467 shares of the company’s stock worth $1,165,000 after purchasing an additional 21,853 shares in the last quarter. Finally, Corton Capital Inc. acquired a new stake in Cinemark in the third quarter worth approximately $280,000.

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.