Brokerages Set Cinemark Holdings, Inc. (NYSE:CNK) Price Target at $32.80

Cinemark Holdings, Inc. (NYSE:CNK) has been assigned an average recommendation of “Moderate Buy” from the eleven analysts that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $33.20.

Several research analysts have recently commented on the company. StockNews.com upgraded Cinemark from a “sell” rating to a “hold” rating in a report on Sunday, November 10th. Barrington Research reiterated an “outperform” rating and set a $40.00 price target on shares of Cinemark in a research note on Wednesday. Wedbush reiterated a “neutral” rating and set a $32.00 price target on shares of Cinemark in a research note on Tuesday. Wells Fargo & Company lowered their price objective on Cinemark from $38.00 to $36.00 and set an “overweight” rating for the company in a research report on Wednesday, January 29th. Finally, Benchmark reissued a “buy” rating and set a $40.00 price objective on shares of Cinemark in a research report on Friday, January 10th.

Institutional Investors Weigh In On Cinemark

A number of hedge funds have recently bought and sold shares of the business. Aigen Investment Management LP boosted its position in Cinemark by 198.9% during the 3rd quarter. Aigen Investment Management LP now owns 49,400 shares of the company’s stock valued at $1,375,000 after purchasing an additional 32,870 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its stake in Cinemark by 88.9% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 62,239 shares of the company’s stock valued at $1,733,000 after acquiring an additional 29,295 shares in the last quarter. State of New Jersey Common Pension Fund D bought a new stake in Cinemark during the 3rd quarter valued at $1,960,000. Entropy Technologies LP bought a new stake in shares of Cinemark in the 3rd quarter worth $893,000. Finally, KBC Group NV raised its stake in shares of Cinemark by 470.1% in the 4th quarter. KBC Group NV now owns 16,920 shares of the company’s stock worth $524,000 after buying an additional 13,952 shares in the last quarter.

Cinemark Price Performance

NYSE:CNK opened at $28.53 on Monday. 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 firm has a market cap of $3.49 billion, a price-to-earnings ratio of 18.41 and a beta of 2.38. The company has a 50 day moving average price of $30.44 and a 200-day moving average price of $29.76. Cinemark has a 1-year low of $15.74 and a 1-year high of $36.28.

Cinemark (NYSE:CNK) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.06). Cinemark had a net margin of 8.36% and a return on equity of 60.21%. The company had revenue of $814.30 million during the quarter, compared to analyst estimates of $797.18 million. During the same period in the prior year, the business posted ($0.15) EPS. Cinemark’s revenue was up 27.5% compared to the same quarter last year. Equities research analysts forecast that Cinemark will post 2.08 EPS for the current year.

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.