Cinemark (NYSE:CNK) Hits New 52-Week High at $22.57

Cinemark Holdings, Inc. (NYSE:CNK) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $22.57 and last traded at $22.40, with a volume of 339932 shares changing hands. The stock had previously closed at $21.99.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Macquarie raised their target price on shares of Cinemark from $21.00 to $24.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 9th. Wedbush reiterated an “outperform” rating and set a $25.00 target price on shares of Cinemark in a research report on Monday. Barrington Research reissued an “outperform” rating and issued a $24.00 price target on shares of Cinemark in a report on Monday, June 17th. JPMorgan Chase & Co. upped their price objective on Cinemark from $17.00 to $19.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Finally, B. Riley raised Cinemark from a “neutral” rating to a “buy” rating and raised their target price for the company from $16.00 to $27.00 in a report on Monday, July 8th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, eight have issued a buy rating and one has issued 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 a consensus target price of $22.90.

Cinemark Price Performance

The company has a fifty day simple moving average of $19.61 and a two-hundred day simple moving average of $17.77. The company has a debt-to-equity ratio of 7.42, a quick ratio of 1.45 and a current ratio of 1.48. The company has a market capitalization of $2.75 billion, a price-to-earnings ratio of 15.46, a P/E/G ratio of 2.02 and a beta of 2.36.

Cinemark (NYSE:CNK) last released its 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 for the quarter, compared to the consensus estimate of $561.91 million. Cinemark had a return on equity of 69.48% and a net margin of 7.12%. The firm’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.03) earnings per share. As a group, research analysts anticipate that Cinemark Holdings, Inc. will post 1.09 earnings per share for the current year.

Institutional Investors Weigh In On Cinemark

Several hedge funds have recently modified their holdings of CNK. Assenagon Asset Management S.A. increased its position in Cinemark by 30.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 288,058 shares of the company’s stock worth $4,059,000 after purchasing an additional 67,851 shares during the last quarter. Park West Asset Management LLC raised its position in shares of Cinemark by 34.3% in the 4th quarter. Park West Asset Management LLC now owns 1,175,000 shares of the company’s stock worth $16,556,000 after buying an additional 300,000 shares during the period. Federated Hermes Inc. boosted its holdings in Cinemark by 17.0% in the fourth quarter. Federated Hermes Inc. now owns 696,859 shares of the company’s stock valued at $9,819,000 after acquiring an additional 101,272 shares during the last quarter. Sei Investments Co. grew its position in Cinemark by 38.1% during the first quarter. Sei Investments Co. now owns 115,124 shares of the company’s stock valued at $2,069,000 after acquiring an additional 31,739 shares during the period. Finally, Peconic Partners LLC increased its stake in Cinemark by 66.7% during the fourth quarter. Peconic Partners LLC now owns 500,000 shares of the company’s stock worth $7,045,000 after acquiring an additional 200,000 shares during the last quarter.

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.