Cinemark Holdings, Inc. (NYSE:CNK) Receives $26.00 Consensus PT from Brokerages

Shares of Cinemark Holdings, Inc. (NYSE:CNK) have earned a consensus rating of “Moderate Buy” from the eleven research firms that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation, six have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $26.00.

A number of research firms have recently issued reports on CNK. StockNews.com downgraded Cinemark from a “hold” rating to a “sell” rating in a research note on Tuesday, August 13th. Roth Mkm boosted their price target on Cinemark from $28.00 to $30.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Roth Capital upgraded shares of Cinemark from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 24th. Macquarie upped their target price on shares of Cinemark from $21.00 to $24.00 and gave the company an “outperform” rating in a report on Tuesday, July 9th. Finally, B. Riley cut shares of Cinemark from a “buy” rating to a “neutral” rating and set a $31.00 price target on the stock. in a research note on Tuesday, August 27th.

Cinemark Price Performance

Shares of NYSE:CNK opened at $28.32 on Friday. The company has a debt-to-equity ratio of 6.23, a quick ratio of 1.26 and a current ratio of 1.29. The firm has a market cap of $3.46 billion, a price-to-earnings ratio of 19.53, a price-to-earnings-growth ratio of 2.12 and a beta of 2.36. The business has a 50-day simple moving average of $25.89 and a two-hundred day simple moving average of $21.10. Cinemark has a fifty-two week low of $13.19 and a fifty-two week high of $29.07.

Cinemark (NYSE:CNK) last released its quarterly earnings data on Friday, August 2nd. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.25. Cinemark had a net margin of 5.05% and a return on equity of 41.87%. The firm had revenue of $734.20 million during the quarter, compared to analysts’ expectations of $691.74 million. During the same period in the previous year, the company earned $0.80 earnings per share. The firm’s quarterly revenue was down 22.1% on a year-over-year basis. On average, analysts expect that Cinemark will post 1.33 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Valmir Fernandes sold 25,000 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $27.19, for a total transaction of $679,750.00. Following the completion of the sale, the insider now owns 204,729 shares in the company, valued at $5,566,581.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Cinemark

Institutional investors have recently bought and sold shares of the stock. Third Point LLC bought a new position in shares of Cinemark during the 1st quarter valued at about $89,850,000. Steadfast Capital Management LP purchased a new position in Cinemark during the 1st quarter valued at approximately $29,323,000. Hennessy Advisors Inc. bought a new stake in Cinemark in the 4th quarter worth approximately $16,001,000. Jericho Capital Asset Management L.P. bought a new stake in Cinemark in the 1st quarter worth approximately $15,975,000. Finally, Nut Tree Capital Management LP purchased a new stake in shares of Cinemark during the 1st quarter worth approximately $13,250,000.

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.