Cinemark’s (CNK) Buy Rating Reaffirmed at Benchmark

Cinemark (NYSE:CNK)‘s stock had its “buy” rating reiterated by analysts at Benchmark in a research note issued to investors on Monday, Benzinga reports. They currently have a $23.00 target price on the stock. Benchmark’s target price indicates a potential upside of 5.65% from the stock’s current price.

Several other research firms have also weighed in on CNK. Wedbush reissued an “outperform” rating and set a $25.00 price target on shares of Cinemark in a research report on Thursday. Roth Mkm raised shares of Cinemark from a “neutral” rating to a “buy” rating and increased their price target for the stock from $19.00 to $26.00 in a research report on Monday, June 24th. Barrington Research restated an “outperform” rating and set a $24.00 price target on shares of Cinemark in a report on Monday, June 17th. B. Riley upped their price objective on shares of Cinemark from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Finally, Wells Fargo & Company raised shares of Cinemark from an “underweight” rating to an “overweight” rating and lifted their target price for the company from $13.00 to $23.00 in a research note on Friday, April 5th. Two research analysts have rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Cinemark has a consensus rating of “Moderate Buy” and an average price target of $21.33.

Cinemark Trading Up 0.7 %

Shares of CNK traded up $0.15 during midday trading on Monday, hitting $21.77. The stock had a trading volume of 601,522 shares, compared to its average volume of 3,017,189. The business has a 50-day simple moving average of $18.07 and a two-hundred day simple moving average of $16.74. The firm has a market cap of $2.66 billion, a P/E ratio of 14.96, a price-to-earnings-growth ratio of 2.02 and a beta of 2.36. The company has a current ratio of 1.48, a quick ratio of 1.45 and a debt-to-equity ratio of 7.42. Cinemark has a fifty-two week low of $13.19 and a fifty-two week high of $21.87.

Cinemark (NYSE:CNK) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.19 EPS 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 posted ($0.03) EPS. The company’s revenue was down 5.2% on a year-over-year basis. As a group, equities analysts forecast that Cinemark will post 1.07 EPS for the current year.

Hedge Funds Weigh In On Cinemark

Hedge funds have recently bought and sold shares of the business. NBC Securities Inc. lifted its position in shares of Cinemark by 17.2% in the fourth quarter. NBC Securities Inc. now owns 4,764 shares of the company’s stock worth $67,000 after buying an additional 700 shares during the last quarter. Algert Global LLC bought a new position in shares of Cinemark in the 3rd quarter valued at approximately $222,000. Inspire Advisors LLC acquired a new stake in Cinemark in the 1st quarter worth approximately $240,000. Virtu Financial LLC bought a new stake in Cinemark during the fourth quarter worth approximately $192,000. Finally, Mackenzie Financial Corp acquired a new position in Cinemark during the fourth quarter valued at approximately $210,000.

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.