Cinemark (NYSE:CNK) Sets New 12-Month High at $22.31

Cinemark Holdings, Inc. (NYSE:CNK) hit a new 52-week high on Monday . The company traded as high as $22.31 and last traded at $22.31, with a volume of 25488 shares. The stock had previously closed at $21.73.

Analysts Set New Price Targets

CNK has been the subject of several recent research reports. Benchmark reaffirmed a “buy” rating and set a $23.00 price objective on shares of Cinemark in a research report on Monday, July 1st. Roth Capital raised Cinemark from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 24th. JPMorgan Chase & Co. boosted their price target on shares of Cinemark from $17.00 to $19.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. B. Riley upgraded Cinemark from a “neutral” rating to a “buy” rating and raised their price target for the company from $16.00 to $27.00 in a research note on Monday. Finally, StockNews.com cut Cinemark from a “hold” rating to a “sell” rating in a research note on Thursday, May 30th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Cinemark currently has an average rating of “Moderate Buy” and a consensus target price of $22.70.

Cinemark Stock Performance

The stock has a market capitalization of $2.65 billion, a P/E ratio of 14.94, a PEG ratio of 2.04 and a beta of 2.36. The stock’s 50-day simple moving average is $18.53 and its 200 day simple moving average is $17.02. 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 (NYSE:CNK) last announced 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. The business had revenue of $579.00 million during the quarter, compared to the consensus estimate of $561.91 million. Cinemark had a net margin of 7.12% and a return on equity of 69.48%. Cinemark’s revenue was down 5.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.03) EPS. Research analysts expect that Cinemark Holdings, Inc. will post 1.07 EPS for the current fiscal year.

Hedge Funds Weigh In On Cinemark

Large investors have recently made changes to their positions in the company. CANADA LIFE ASSURANCE Co grew its holdings in Cinemark by 0.5% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 122,908 shares of the company’s stock valued at $2,209,000 after buying an additional 612 shares in the last quarter. NBC Securities Inc. increased its position in Cinemark by 17.2% during the fourth quarter. NBC Securities Inc. now owns 4,764 shares of the company’s stock worth $67,000 after acquiring an additional 700 shares during the period. Watershed Asset Management L.L.C. raised its stake 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 worth $221,000 after purchasing an additional 915 shares in the last quarter. Tectonic Advisors LLC boosted its holdings in Cinemark by 2.7% in the 4th quarter. Tectonic Advisors LLC now owns 46,913 shares of the company’s stock valued at $661,000 after purchasing an additional 1,243 shares during the period. Finally, Texas Permanent School Fund Corp grew its position in shares of Cinemark by 1.5% during the 1st quarter. Texas Permanent School Fund Corp now owns 92,591 shares of the company’s stock worth $1,664,000 after purchasing an additional 1,345 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.