Cinemark (NYSE:CNK) Sets New 1-Year High at $22.23

Cinemark Holdings, Inc. (NYSE:CNK)’s stock price hit a new 52-week high on Tuesday . The stock traded as high as $22.23 and last traded at $22.21, with a volume of 1718687 shares trading hands. The stock had previously closed at $21.70.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on CNK shares. Morgan Stanley boosted their target price on Cinemark from $24.00 to $26.00 and gave the stock an “overweight” rating in a research note on Thursday, July 18th. Barrington Research reaffirmed an “outperform” rating and issued a $24.00 price objective on shares of Cinemark in a research report on Monday, June 17th. StockNews.com downgraded shares of Cinemark from a “hold” rating to a “sell” rating in a research report on Thursday, May 30th. Macquarie boosted their target price on Cinemark from $21.00 to $24.00 and gave the company an “outperform” rating in a research note on Tuesday, July 9th. Finally, Wells Fargo & Company raised shares of Cinemark from an “underweight” rating to an “overweight” rating and boosted their price target for the company from $13.00 to $23.00 in a research report on Friday, April 5th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Cinemark presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.90.

Cinemark Price Performance

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 company has a market cap of $2.72 billion, a PE ratio of 15.20, a P/E/G ratio of 1.97 and a beta of 2.36. The firm has a 50 day moving average of $19.33 and a two-hundred day moving average of $17.54.

Cinemark (NYSE:CNK) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.40. The firm had revenue of $579.00 million during the quarter, compared to analysts’ expectations of $561.91 million. Cinemark had a return on equity of 69.48% and a net margin of 7.12%. The company’s revenue was down 5.2% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.03) earnings per share. Research analysts predict that Cinemark Holdings, Inc. will post 1.09 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cinemark

Several large investors have recently made changes to their positions in CNK. Vanguard Group Inc. increased its stake in Cinemark by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 13,844,490 shares of the company’s stock worth $254,046,000 after acquiring an additional 214,102 shares during the last quarter. Third Point LLC purchased a new stake in shares of Cinemark in the first quarter valued at $89,850,000. Dimensional Fund Advisors LP raised its stake in shares of Cinemark by 9.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,568,871 shares of the company’s stock valued at $36,195,000 after acquiring an additional 213,593 shares during the period. Steadfast Capital Management LP bought a new stake in shares of Cinemark in the 1st quarter worth about $29,323,000. Finally, Hennessy Advisors Inc. boosted its position in shares of Cinemark by 18.1% during the second quarter. Hennessy Advisors Inc. now owns 1,530,200 shares of the company’s stock valued at $33,083,000 after buying an additional 234,400 shares during the period.

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.