Cinemark (NYSE:CNK) Receives Outperform Rating from Wedbush

Wedbush reissued their outperform rating on shares of Cinemark (NYSE:CNKFree Report) in a report issued on Friday, RTT News reports. The firm currently has a $25.00 price objective on the stock. Wedbush also issued estimates for Cinemark’s Q3 2024 earnings at $0.53 EPS, Q4 2024 earnings at $0.57 EPS, Q4 2025 earnings at $0.67 EPS and FY2025 earnings at $1.78 EPS.

A number of other research firms also recently issued reports on CNK. B. Riley boosted their price objective on shares of Cinemark from $14.00 to $16.00 and gave the company a neutral rating in a report on Friday, May 3rd. StockNews.com downgraded shares of Cinemark from a hold rating to a sell rating in a report on Thursday, May 30th. Barrington Research reissued an outperform rating and issued a $24.00 price objective on shares of Cinemark in a report on Monday, June 17th. JPMorgan Chase & Co. boosted their price objective on shares of Cinemark from $17.00 to $19.00 and gave the company a neutral rating in a report on Monday, April 8th. Finally, Benchmark reaffirmed a buy rating and set a $23.00 price target on shares of Cinemark in a report on Friday, May 3rd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Hold and a consensus price target of $20.56.

Check Out Our Latest Report on Cinemark

Cinemark Stock Up 0.5 %

Shares of CNK opened at $19.48 on Friday. Cinemark has a 52 week low of $13.19 and a 52 week high of $20.40. The firm has a market cap of $2.38 billion, a P/E ratio of 13.43, a price-to-earnings-growth ratio of 1.77 and a beta of 2.27. The firm’s 50-day simple moving average is $17.75 and its 200 day simple moving average is $16.52. 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 (NYSE:CNKGet Free Report) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $561.91 million. During the same quarter in the prior year, the business earned ($0.03) EPS. Cinemark’s quarterly revenue was down 5.2% on a year-over-year basis. On average, analysts forecast that Cinemark will post 1.1 earnings per share for the current year.

Institutional Investors Weigh In On Cinemark

Large investors have recently modified their holdings of the company. NBC Securities Inc. increased its position in shares of Cinemark by 17.2% during the fourth quarter. NBC Securities Inc. now owns 4,764 shares of the company’s stock worth $67,000 after buying an additional 700 shares during the period. Virtu Financial LLC acquired a new stake in shares of Cinemark during the fourth quarter worth $192,000. DekaBank Deutsche Girozentrale acquired a new stake in Cinemark in the third quarter worth $193,000. Mackenzie Financial Corp acquired a new stake in Cinemark in the fourth quarter worth $210,000. Finally, Watershed Asset Management L.L.C. grew its holdings in Cinemark by 6.2% in the fourth quarter. Watershed Asset Management L.L.C. now owns 15,658 shares of the company’s stock worth $221,000 after purchasing an additional 915 shares during the period.

Cinemark Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Cinemark (NYSE:CNK)

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