Cinemark (NYSE:CNK) Hits New 1-Year High at $21.76

Cinemark Holdings, Inc. (NYSE:CNK)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $21.76 and last traded at $21.71, with a volume of 201745 shares trading hands. The stock had previously closed at $21.62.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CNK. Roth Mkm upgraded Cinemark from a “neutral” rating to a “buy” rating and upped their target price for the company from $19.00 to $26.00 in a report on Monday, June 24th. Wedbush reiterated an “outperform” rating and set a $25.00 price target on shares of Cinemark in a report on Thursday, June 27th. Roth Capital upgraded Cinemark from a “hold” rating to a “strong-buy” rating in a report on Monday, June 24th. Benchmark reiterated a “buy” rating and set a $23.00 price target on shares of Cinemark in a report on Monday. Finally, StockNews.com cut Cinemark from a “hold” rating to a “sell” rating in a report on Thursday, May 30th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.33.

Cinemark Stock Down 0.6 %

The business has a fifty day moving average of $18.21 and a 200 day moving average of $16.83. The company has a market capitalization of $2.62 billion, a PE ratio of 14.78, a PEG 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 (NYSE:CNK) last announced its earnings results 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 company had revenue of $579.00 million during the quarter, compared to analysts’ expectations of $561.91 million. During the same period last year, the business posted ($0.03) EPS. Cinemark’s revenue for the quarter was down 5.2% on a year-over-year basis. Equities research analysts anticipate that Cinemark Holdings, Inc. will post 1.07 EPS for the current year.

Institutional Investors Weigh In On Cinemark

Hedge funds have recently bought and sold shares of the stock. NBC Securities Inc. raised its position in 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 purchasing an additional 700 shares in the last quarter. Inspire Advisors LLC acquired a new stake in Cinemark in the 1st quarter valued at about $240,000. Virtu Financial LLC acquired a new stake in Cinemark in the 4th quarter valued at about $192,000. Mackenzie Financial Corp acquired a new stake in Cinemark in the 4th quarter valued at about $210,000. Finally, Watershed Asset Management L.L.C. raised its position in Cinemark by 6.2% in the 4th quarter. Watershed Asset Management L.L.C. now owns 15,658 shares of the company’s stock valued at $221,000 after purchasing an additional 915 shares in the last quarter.

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.