Cinemark Holdings, Inc. (NYSE:CNK) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Cinemark Holdings, Inc. (NYSE:CNK) have been assigned a consensus recommendation of “Moderate Buy” from the eleven brokerages that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, six have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $32.80.

Several brokerages recently weighed in on CNK. Morgan Stanley lifted their price target on Cinemark from $29.00 to $35.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. The Goldman Sachs Group upped their target price on Cinemark from $16.00 to $20.00 and gave the stock a “sell” rating in a research note on Thursday, September 19th. Roth Mkm lifted their price target on shares of Cinemark from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Macquarie boosted their price target on shares of Cinemark from $32.00 to $34.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, Wedbush lowered shares of Cinemark from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 1st.

Cinemark Price Performance

Shares of NYSE CNK opened at $30.95 on Friday. The company has a debt-to-equity ratio of 3.46, a current ratio of 0.98 and a quick ratio of 0.96. The stock has a market capitalization of $3.79 billion, a price-to-earnings ratio of 19.97, a PEG ratio of 1.66 and a beta of 2.38. The firm’s 50 day simple moving average is $31.80 and its 200-day simple moving average is $27.38. Cinemark has a 12 month low of $13.19 and a 12 month high of $36.28.

Cinemark (NYSE:CNK) last released its quarterly earnings results on Thursday, October 31st. The company reported $1.19 EPS for the quarter, beating the consensus estimate of $0.58 by $0.61. The company had revenue of $921.80 million for the quarter, compared to analyst estimates of $894.90 million. Cinemark had a net margin of 8.36% and a return on equity of 60.21%. The firm’s revenue was up 5.4% on a year-over-year basis. During the same quarter last year, the business earned $0.61 earnings per share. Analysts expect that Cinemark will post 2 EPS for the current year.

Insider Transactions at Cinemark

In other news, insider Valmir Fernandes sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $32.68, for a total value of $817,000.00. Following the completion of the sale, the insider now directly owns 179,729 shares in the company, valued at $5,873,543.72. This represents a 12.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On Cinemark

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. raised its holdings in shares of Cinemark by 18.8% during the 3rd quarter. Principal Financial Group Inc. now owns 629,782 shares of the company’s stock worth $17,533,000 after acquiring an additional 99,843 shares during the period. Franklin Resources Inc. raised its stake in Cinemark by 6.8% during the third quarter. Franklin Resources Inc. now owns 56,757 shares of the company’s stock worth $1,651,000 after purchasing an additional 3,632 shares during the period. Castellan Group acquired a new position in Cinemark in the 3rd quarter valued at about $6,130,000. Geode Capital Management LLC grew its stake in shares of Cinemark by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 2,449,567 shares of the company’s stock valued at $68,209,000 after buying an additional 25,857 shares during the period. Finally, Luxor Capital Group LP increased its holdings in shares of Cinemark by 2.9% during the 3rd quarter. Luxor Capital Group LP now owns 102,200 shares of the company’s stock worth $2,845,000 after buying an additional 2,905 shares during 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.