Cinemark (NYSE:CNK) Price Target Raised to $37.00

Cinemark (NYSE:CNK) had its target price boosted by Benchmark from $35.00 to $37.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Benchmark’s target price points to a potential upside of 11.66% from the company’s previous close.

A number of other brokerages also recently weighed in on CNK. B. Riley Financial increased their price target on shares of Cinemark from $34.00 to $36.00 and gave the company a “neutral” rating in a research report on Thursday, June 11th. Roth Mkm reaffirmed a “buy” rating and issued a $37.00 target price on shares of Cinemark in a research note on Thursday, April 23rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Cinemark in a report on Friday, March 27th. JPMorgan Chase & Co. lifted their price target on shares of Cinemark from $35.00 to $36.00 and gave the stock an “overweight” rating in a research report on Monday, May 4th. Finally, Zacks Research lowered shares of Cinemark from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 2nd. Ten analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $34.46.

Cinemark Price Performance

NYSE:CNK traded up $0.12 during mid-day trading on Wednesday, reaching $33.14. 31,501 shares of the company were exchanged, compared to its average volume of 2,356,678. Cinemark has a 12 month low of $21.60 and a 12 month high of $34.40. The company has a quick ratio of 0.58, a current ratio of 0.62 and a debt-to-equity ratio of 5.03. The company has a fifty day moving average of $29.13 and a 200 day moving average of $26.58. The stock has a market cap of $3.87 billion, a PE ratio of 29.32 and a beta of 1.00.

Cinemark (NYSE:CNK) last issued its quarterly earnings results on Friday, May 1st. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). Cinemark had a net margin of 5.31% and a return on equity of 41.31%. The company had revenue of $643.10 million during the quarter, compared to analyst estimates of $632.74 million. During the same period in the prior year, the business earned ($0.32) EPS. The business’s revenue for the quarter was up 18.9% on a year-over-year basis. On average, research analysts anticipate that Cinemark will post 2.18 EPS for the current fiscal year.

Hedge Funds Weigh In On Cinemark

Several hedge funds have recently made changes to their positions in CNK. Intech Investment Management LLC boosted its holdings in Cinemark by 129.0% during the third quarter. Intech Investment Management LLC now owns 156,602 shares of the company’s stock worth $4,388,000 after purchasing an additional 88,203 shares during the last quarter. Jain Global LLC increased its stake in Cinemark by 37.4% in the 3rd quarter. Jain Global LLC now owns 1,644,623 shares of the company’s stock valued at $46,082,000 after buying an additional 447,468 shares during the last quarter. Gabelli Funds LLC bought a new stake in Cinemark during the 3rd quarter worth about $1,444,000. Cartenna Capital LP boosted its stake in shares of Cinemark by 29.4% during the 3rd quarter. Cartenna Capital LP now owns 1,650,000 shares of the company’s stock worth $46,233,000 after buying an additional 375,000 shares during the last quarter. Finally, Marathon Asset Management LP acquired a new position in shares of Cinemark during the 3rd quarter worth about $8,406,000.

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.