Cinemark’s (CNK) Buy Rating Reaffirmed at Benchmark

Cinemark (NYSE:CNK)‘s stock had its “buy” rating reissued by stock analysts at Benchmark in a research note issued on Friday,Benzinga reports. They presently have a $40.00 price target on the stock. Benchmark’s price objective would indicate a potential upside of 32.41% from the stock’s current price.

Several other analysts have also recently issued reports on CNK. StockNews.com upgraded Cinemark from a “sell” rating to a “hold” rating in a report on Sunday, November 10th. Macquarie upped their target price on Cinemark from $32.00 to $34.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Wedbush cut Cinemark from a “strong-buy” rating to a “hold” rating in a report on Friday, November 1st. Wells Fargo & Company upped their target price on Cinemark from $35.00 to $38.00 and gave the company an “overweight” rating in a report on Wednesday, November 27th. Finally, Barrington Research upgraded Cinemark from a “market perform” rating to an “outperform” rating and set a $36.00 price target for the company in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $32.80.

Cinemark Stock Down 0.7 %

Shares of CNK opened at $30.21 on Friday. The company has a debt-to-equity ratio of 3.46, a quick ratio of 0.96 and a current ratio of 0.98. Cinemark has a one year low of $13.19 and a one year high of $36.28. The stock has a market capitalization of $3.70 billion, a price-to-earnings ratio of 19.49, a PEG ratio of 1.66 and a beta of 2.40. The stock has a 50 day moving average price of $32.12 and a 200 day moving average price of $28.17.

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

Insider Activity at Cinemark

In related news, insider Valmir Fernandes sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $32.68, for a total transaction of $817,000.00. Following the completion of the transaction, the insider now directly owns 179,729 shares in the company, valued at $5,873,543.72. This trade represents a 12.21 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cinemark

A number of hedge funds and other institutional investors have recently bought and sold shares of CNK. Aigen Investment Management LP raised its position in Cinemark by 198.9% in 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 in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in Cinemark by 88.9% in 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 purchasing an additional 29,295 shares in the last quarter. State of New Jersey Common Pension Fund D acquired a new stake in Cinemark in the 3rd quarter valued at about $1,960,000. Entropy Technologies LP acquired a new stake in Cinemark in the 3rd quarter valued at about $893,000. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its position in Cinemark by 18.1% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 676,652 shares of the company’s stock valued at $14,629,000 after purchasing an additional 103,875 shares in the last quarter.

Cinemark Company Profile

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.