Cinemark (NYSE:CNK) Price Target Lowered to $32.00 at Barrington Research

Cinemark (NYSE:CNK) had its price objective cut by stock analysts at Barrington Research from $36.00 to $32.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Barrington Research’s target price would suggest a potential upside of 33.58% from the stock’s previous close.

Several other research firms have also recently weighed in on CNK. JPMorgan Chase & Co. lowered their price objective on shares of Cinemark from $37.00 to $31.00 and set an “overweight” rating on the stock in a research report on Thursday. B. Riley reduced their price target on Cinemark from $35.00 to $29.00 and set a “neutral” rating on the stock in a research report on Thursday. Zacks Research raised shares of Cinemark from a “strong sell” rating to a “hold” rating in a research note on Friday, October 3rd. Benchmark reiterated a “buy” rating on shares of Cinemark in a report on Thursday, January 15th. Finally, UBS Group upgraded Cinemark to a “buy” rating in a report on Tuesday, January 20th. Ten research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $32.83.

Cinemark Price Performance

CNK opened at $23.96 on Monday. The firm has a 50-day moving average price of $24.58 and a 200-day moving average price of $26.39. The company has a market capitalization of $2.81 billion, a price-to-earnings ratio of 23.03, a PEG ratio of 2.41 and a beta of 1.10. Cinemark has a twelve month low of $21.60 and a twelve month high of $34.01. The company has a quick ratio of 0.72, a current ratio of 0.76 and a debt-to-equity ratio of 5.01.

Cinemark (NYSE:CNK) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.04). The company had revenue of $857.50 million for the quarter, compared to the consensus estimate of $851.47 million. Cinemark had a net margin of 4.93% and a return on equity of 34.33%. The company’s quarterly revenue was down 7.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.19 earnings per share. Equities analysts expect that Cinemark will post 1.93 EPS for the current year.

Insider Buying and Selling

In other Cinemark news, EVP Melissa Thomas sold 22,082 shares of the business’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $24.81, for a total value of $547,854.42. Following the completion of the sale, the executive vice president directly owned 167,360 shares of the company’s stock, valued at $4,152,201.60. The trade was a 11.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.30% of the stock is owned by company insiders.

Institutional Trading of Cinemark

Hedge funds and other institutional investors have recently made changes to their positions in the business. Amalgamated Bank boosted its holdings in Cinemark by 1.7% in the third quarter. Amalgamated Bank now owns 29,626 shares of the company’s stock valued at $830,000 after purchasing an additional 488 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in shares of Cinemark by 20.1% during the 3rd quarter. Smartleaf Asset Management LLC now owns 3,027 shares of the company’s stock valued at $83,000 after acquiring an additional 506 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Cinemark by 118.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 935 shares of the company’s stock valued at $28,000 after purchasing an additional 507 shares during the last quarter. QRG Capital Management Inc. raised its position in Cinemark by 3.2% in the second quarter. QRG Capital Management Inc. now owns 16,894 shares of the company’s stock valued at $510,000 after purchasing an additional 521 shares during the period. Finally, Resona Asset Management Co. Ltd. boosted its holdings in Cinemark by 7.2% during the 2nd quarter. Resona Asset Management Co. Ltd. now owns 12,056 shares of the company’s stock valued at $364,000 after acquiring an additional 812 shares during the period.

About Cinemark

Cinemark Holdings, Inc (NYSE: CNK) is a leading theatrical exhibitor that acquires, develops and operates motion picture theatres under the Cinemark® brand in the United States and Latin America. The company’s core business involves the presentation of first-run feature films coupled with an array of in‐theatre services, including concessions, premium auditoriums and loyalty programs. Cinemark’s exhibition portfolio encompasses both corporate‐owned and franchised complexes, offering moviegoers a range of experiences from standard screens to large‐format halls.

The company’s product offerings extend beyond ticket sales to include an assortment of concession items, such as popcorn, fountain beverages, candy and specialty snacks, as well as bar and lounge concepts in select locations.