Cinemark (NYSE:CNK) PT Raised to $16.00

Cinemark (NYSE:CNK) had its price target boosted by B. Riley from $14.00 to $16.00 in a report released on Friday, Benzinga reports. B. Riley currently has a neutral rating on the stock. B. Riley also issued estimates for Cinemark’s Q3 2024 earnings at $0.21 EPS, Q4 2024 earnings at $0.30 EPS and Q4 2025 earnings at $0.50 EPS.

Several other brokerages have also recently issued reports on CNK. Roth Mkm raised their target price on Cinemark from $17.00 to $19.00 and gave the stock a neutral rating in a research report on Wednesday, April 10th. Barrington Research restated an outperform rating and set a $24.00 target price on shares of Cinemark in a research report on Monday, April 22nd. JPMorgan Chase & Co. increased their price target on shares of Cinemark from $17.00 to $19.00 and gave the stock a neutral rating in a research report on Monday, April 8th. The Goldman Sachs Group dropped their price target on shares of Cinemark from $16.00 to $12.00 and set a sell rating on the stock in a research note on Thursday, January 11th. Finally, Wedbush restated an outperform rating and issued a $23.00 price objective on shares of Cinemark in a research note on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $20.33.

Cinemark Price Performance

CNK opened at $17.02 on Friday. The company’s 50-day simple moving average is $17.93 and its two-hundred day simple moving average is $15.85. 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 stock has a market capitalization of $2.08 billion, a P/E ratio of 11.73, a P/E/G ratio of 2.06 and a beta of 2.25. Cinemark has a 52-week low of $13.19 and a 52-week high of $20.40.

Cinemark (NYSE:CNK) last issued its quarterly earnings data 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 company had revenue of $579.00 million for the quarter, compared to the consensus estimate of $561.91 million. Cinemark had a net margin of 7.12% and a return on equity of 69.48%. The firm’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.03) earnings per share. As a group, analysts predict that Cinemark will post 0.86 EPS for the current year.

Insider Buying and Selling at Cinemark

In other news, insider Wanda Marie Gierhart sold 19,593 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $16.75, for a total transaction of $328,182.75. Following the completion of the transaction, the insider now owns 179,591 shares in the company, valued at $3,008,149.25. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 2.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Cinemark

Several institutional investors have recently added to or reduced their stakes in CNK. NBC Securities Inc. grew its holdings in shares of Cinemark by 17.2% in the fourth quarter. NBC Securities Inc. now owns 4,764 shares of the company’s stock valued at $67,000 after purchasing an additional 700 shares in the last quarter. Watershed Asset Management L.L.C. increased its stake in Cinemark by 6.2% in the 4th quarter. Watershed Asset Management L.L.C. now owns 15,658 shares of the company’s stock worth $221,000 after buying an additional 915 shares during the period. Los Angeles Capital Management LLC boosted its position in Cinemark by 1.7% in the 3rd quarter. Los Angeles Capital Management LLC now owns 58,368 shares of the company’s stock valued at $1,071,000 after buying an additional 967 shares during the period. First National Bank of Hutchinson grew its stake in Cinemark by 1.4% in the 3rd quarter. First National Bank of Hutchinson now owns 69,853 shares of the company’s stock worth $1,282,000 after acquiring an additional 989 shares in the last quarter. Finally, Natixis Advisors L.P. increased its position in shares of Cinemark by 5.9% during the third quarter. Natixis Advisors L.P. now owns 22,210 shares of the company’s stock worth $408,000 after acquiring an additional 1,241 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.