Cinemark (NYSE:CNK) Rating Reiterated by Benchmark

Cinemark (NYSE:CNK)‘s stock had its “buy” rating restated by equities researchers at Benchmark in a research note issued on Monday, Benzinga reports. They currently have a $23.00 price target on the stock. Benchmark’s target price would indicate a potential upside of 7.30% from the company’s current price.

A number of other brokerages also recently issued reports on CNK. 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. Wells Fargo & Company upgraded Cinemark from an “underweight” rating to an “overweight” rating and raised their target price for the company from $13.00 to $23.00 in a report on Friday, April 5th. StockNews.com cut Cinemark from a “hold” rating to a “sell” rating in a research note on Thursday, May 30th. Wedbush reiterated an “outperform” rating and issued a $25.00 price objective on shares of Cinemark in a research note on Thursday, June 27th. Finally, Roth Mkm raised shares of Cinemark from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $19.00 to $26.00 in a report on Monday, June 24th. Two investment 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. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $21.33.

Cinemark Trading Down 0.6 %

Shares of NYSE:CNK opened at $21.44 on Monday. The business’s 50 day moving average price is $18.21 and its 200-day moving average price is $16.83. Cinemark has a 1 year low of $13.19 and a 1 year high of $21.87. The company has a debt-to-equity ratio of 7.42, a current ratio of 1.48 and a quick ratio of 1.45. The firm has a market capitalization of $2.62 billion, a price-to-earnings ratio of 14.78, a price-to-earnings-growth ratio of 2.02 and a beta of 2.36.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. NBC Securities Inc. raised its stake in Cinemark by 17.2% in the 4th quarter. NBC Securities Inc. now owns 4,764 shares of the company’s stock valued at $67,000 after purchasing an additional 700 shares during the last quarter. Virtu Financial LLC purchased a new stake in shares of Cinemark during the 4th quarter worth about $192,000. Mackenzie Financial Corp purchased a new stake in shares of Cinemark during the 4th quarter worth about $210,000. Watershed Asset Management L.L.C. grew its holdings in shares of Cinemark by 6.2% during the 4th 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. Finally, Algert Global LLC purchased a new stake in shares of Cinemark during the 3rd quarter worth about $222,000.

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.