Cinemark’s (CNK) “Outperform” Rating Reaffirmed at Barrington Research

Cinemark (NYSE:CNK)‘s stock had its “outperform” rating reiterated by research analysts at Barrington Research in a note issued to investors on Monday, Benzinga reports. They presently have a $24.00 target price on the stock. Barrington Research’s target price points to a potential upside of 39.53% from the stock’s current price.

Several other brokerages have also recently issued reports on CNK. The Goldman Sachs Group reduced their price target on shares of Cinemark from $16.00 to $12.00 and set a “sell” rating on the stock in a research report on Thursday, January 11th. Wells Fargo & Company upgraded Cinemark from an “underweight” rating to an “overweight” rating and upped their price target for the stock from $13.00 to $23.00 in a research note on Friday, April 5th. Wedbush reissued an “outperform” rating and set a $23.00 target price on shares of Cinemark in a research note on Thursday, April 25th. Benchmark reissued a “buy” rating and set a $23.00 price target on shares of Cinemark in a research note on Friday. Finally, Roth Mkm boosted their price target on Cinemark from $17.00 to $19.00 and gave the stock a “neutral” rating in a report on Wednesday, April 10th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $20.33.

Cinemark Trading Down 2.9 %

NYSE CNK traded down $0.52 on Monday, hitting $17.20. 1,101,090 shares of the stock were exchanged, compared to its average volume of 3,064,443. The company has a debt-to-equity ratio of 7.42, a quick ratio of 1.45 and a current ratio of 1.48. Cinemark has a 52-week low of $13.19 and a 52-week high of $20.40. The firm has a market capitalization of $2.10 billion, a P/E ratio of 11.80, a P/E/G ratio of 2.06 and a beta of 2.25. The stock has a fifty day moving average price of $17.91 and a two-hundred day moving average price of $15.85.

Cinemark (NYSE:CNK) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.19 EPS for the quarter, beating the consensus estimate of ($0.21) by $0.40. Cinemark had a net margin of 7.12% and a return on equity of 69.48%. The business had revenue of $579.00 million during the quarter, compared to analyst estimates of $561.91 million. During the same period in the prior year, the firm posted ($0.03) earnings per share. The company’s quarterly revenue was down 5.2% on a year-over-year basis. Research analysts forecast that Cinemark will post 0.86 EPS for the current fiscal year.

Insiders Place Their Bets

In other Cinemark news, insider Wanda Marie Gierhart sold 19,593 shares of the business’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $16.75, for a total transaction of $328,182.75. Following the completion of the transaction, the insider now owns 179,591 shares in the company, valued at approximately $3,008,149.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Commonwealth Equity Services LLC boosted its position in Cinemark by 4.5% during the third quarter. Commonwealth Equity Services LLC now owns 320,879 shares of the company’s stock worth $5,888,000 after purchasing an additional 13,720 shares during the period. First National Bank of Hutchinson raised its position in Cinemark by 1.4% in the 3rd quarter. First National Bank of Hutchinson now owns 69,853 shares of the company’s stock worth $1,282,000 after purchasing an additional 989 shares during the last quarter. Mitchell Capital Management Co. lifted its stake in shares of Cinemark by 0.4% during the third quarter. Mitchell Capital Management Co. now owns 387,784 shares of the company’s stock valued at $7,116,000 after acquiring an additional 1,470 shares during the period. Capula Management Ltd boosted its stake in shares of Cinemark by 53.4% in the 3rd quarter. Capula Management Ltd now owns 57,040 shares of the company’s stock valued at $1,047,000 after purchasing an additional 19,860 shares during the last quarter. Finally, NBC Securities Inc. acquired a new stake in Cinemark during the 3rd quarter worth $74,000.

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.