Cinemark (NYSE:CNK) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Cinemark (NYSE:CNK) had its price target hoisted by analysts at Morgan Stanley from $30.00 to $36.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price objective indicates a potential upside of 14.27% from the company’s previous close.

CNK has been the topic of a number of other research reports. Roth Mkm restated a “buy” rating and set a $37.00 target price on shares of Cinemark in a report on Thursday, April 23rd. The Goldman Sachs Group restated a “sell” rating and set a $22.00 target price on shares of Cinemark in a report on Thursday, February 19th. Wall Street Zen upgraded shares of Cinemark from a “hold” rating to a “buy” rating in a report on Sunday, May 31st. Weiss Ratings restated a “hold (c)” rating on shares of Cinemark in a report on Friday, March 27th. Finally, Benchmark restated a “buy” rating on shares of Cinemark in a report on Thursday, February 19th. Ten analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Cinemark presently has a consensus rating of “Moderate Buy” and an average price target of $33.77.

Cinemark Stock Up 0.9%

Shares of Cinemark stock opened at $31.51 on Tuesday. The company has a debt-to-equity ratio of 5.03, a quick ratio of 0.58 and a current ratio of 0.62. Cinemark has a 52-week low of $21.60 and a 52-week high of $32.95. The stock has a market capitalization of $3.68 billion, a price-to-earnings ratio of 27.88 and a beta of 1.00. The company’s 50 day moving average price is $28.59 and its 200-day moving average price is $26.40.

Cinemark (NYSE:CNK) last issued its earnings results on Friday, May 1st. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The firm had revenue of $643.10 million during the quarter, compared to the consensus estimate of $632.74 million. Cinemark had a return on equity of 41.31% and a net margin of 5.31%.The firm’s revenue for the quarter was up 18.9% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.32) EPS. Equities research analysts forecast that Cinemark will post 2.11 EPS for the current year.

Hedge Funds Weigh In On Cinemark

A number of hedge funds have recently bought and sold shares of CNK. EverSource Wealth Advisors LLC raised its position in Cinemark by 118.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 935 shares of the company’s stock worth $28,000 after buying an additional 507 shares during the last quarter. Smartleaf Asset Management LLC raised its position in Cinemark by 20.1% in the 3rd quarter. Smartleaf Asset Management LLC now owns 3,027 shares of the company’s stock worth $83,000 after buying an additional 506 shares during the last quarter. Leonteq Securities AG purchased a new position in Cinemark in the 4th quarter worth about $83,000. GAMMA Investing LLC raised its position in Cinemark by 51.8% in the 4th quarter. GAMMA Investing LLC now owns 4,022 shares of the company’s stock worth $93,000 after buying an additional 1,372 shares during the last quarter. Finally, Kestra Advisory Services LLC purchased a new position in Cinemark in the 4th quarter worth about $102,000.

Cinemark Company Profile

Cinemark Holdings, Inc (NYSE: CNK) is a leading theatrical exhibitor that acquires, develops and operates motion picture theatres under the Cinemark® brand in the United States and Latin America. The company’s core business involves the presentation of first-run feature films coupled with an array of in‐theatre services, including concessions, premium auditoriums and loyalty programs. Cinemark’s exhibition portfolio encompasses both corporate‐owned and franchised complexes, offering moviegoers a range of experiences from standard screens to large‐format halls.

The company’s product offerings extend beyond ticket sales to include an assortment of concession items, such as popcorn, fountain beverages, candy and specialty snacks, as well as bar and lounge concepts in select locations.