Cinemark (NYSE:CNK) Lifted to Buy at Roth Mkm

Roth Mkm upgraded shares of Cinemark (NYSE:CNK) from a neutral rating to a buy rating in a research report released on Monday, Marketbeat reports. They currently have $26.00 price target on the stock, up from their prior price target of $19.00.

A number of other brokerages also recently issued reports on CNK. Benchmark reissued a buy rating and set a $23.00 price objective on shares of Cinemark in a research report on Friday, May 3rd. StockNews.com downgraded shares of Cinemark from a hold rating to a sell rating in a research report on Thursday, May 30th. 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 research report on Monday, April 8th. Barrington Research reissued an outperform rating and set a $24.00 price objective on shares of Cinemark in a research report on Monday, June 17th. Finally, Wells Fargo & Company raised shares of Cinemark from an underweight rating to an overweight rating and upped their target price for the stock from $13.00 to $23.00 in a report on Friday, April 5th. Two analysts have rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Cinemark presently has a consensus rating of Moderate Buy and an average target price of $21.33.

Cinemark Price Performance

Shares of CNK opened at $21.13 on Monday. The firm has a market cap of $2.59 billion, a PE ratio of 14.57, a P/E/G ratio of 2.00 and a beta of 2.27. The company has a current ratio of 1.48, a quick ratio of 1.45 and a debt-to-equity ratio of 7.42. The firm has a fifty day simple moving average of $18.00 and a two-hundred day simple moving average of $16.68. Cinemark has a 1-year low of $13.19 and a 1-year high of $21.49.

Cinemark (NYSE:CNK) last announced its earnings results on Thursday, May 2nd. The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.40. The business had revenue of $579.00 million during the quarter, compared to analyst estimates of $561.91 million. Cinemark had a net margin of 7.12% and a return on equity of 69.48%. The company’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.03) EPS. On average, equities analysts anticipate that Cinemark will post 1.07 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CNK. Third Point LLC purchased a new stake in shares of Cinemark during the 1st quarter valued at about $89,850,000. Steadfast Capital Management LP purchased a new stake in shares of Cinemark during the 1st quarter valued at about $29,323,000. Hennessy Advisors Inc. purchased a new stake in shares of Cinemark during the 4th quarter valued at about $16,001,000. Jericho Capital Asset Management L.P. purchased a new stake in shares of Cinemark during the 1st quarter valued at about $15,975,000. Finally, Nut Tree Capital Management LP purchased a new stake in shares of Cinemark during the 1st quarter valued at about $13,250,000.

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.