Cinemark (NYSE:CNK) Given Outperform Rating at Wedbush

Wedbush reaffirmed their outperform rating on shares of Cinemark (NYSE:CNK) in a report released on Monday, Benzinga reports. Wedbush currently has a $25.00 price objective on the stock. Wedbush also issued estimates for Cinemark’s Q2 2024 earnings at $0.10 EPS and FY2024 earnings at $1.37 EPS.

Other equities research analysts have also issued reports about the stock. Morgan Stanley lifted their price target on shares of Cinemark from $24.00 to $26.00 and gave the company an overweight rating in a research note on Thursday, July 18th. B. Riley upgraded shares of Cinemark from a neutral rating to a buy rating and lifted their price target for the company from $16.00 to $27.00 in a research note on Monday, July 8th. Roth Capital upgraded shares of Cinemark from a hold rating to a strong-buy rating in a research note on Monday, June 24th. Macquarie lifted their price target on shares of Cinemark from $21.00 to $24.00 and gave the company an outperform rating in a research note on Tuesday, July 9th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Cinemark from $17.00 to $19.00 and gave the company a neutral rating in a research note on Monday, April 8th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $22.90.

Cinemark Trading Down 2.1 %

Shares of NYSE:CNK opened at $23.09 on Monday. Cinemark has a 12 month low of $13.19 and a 12 month high of $23.86. The company has a quick ratio of 1.45, a current ratio of 1.48 and a debt-to-equity ratio of 7.42. The company’s fifty day simple moving average is $20.04 and its 200 day simple moving average is $17.98. The firm has a market cap of $2.83 billion, a price-to-earnings ratio of 15.92, a PEG ratio of 2.13 and a beta of 2.36.

Cinemark (NYSE:CNK) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.40. Cinemark had a net margin of 7.12% and a return on equity of 69.48%. The business had revenue of $579.00 million for the quarter, compared to analyst estimates of $561.91 million. During the same period last year, the business posted ($0.03) earnings per share. The firm’s quarterly revenue was down 5.2% on a year-over-year basis. As a group, research analysts forecast that Cinemark will post 1.08 EPS for the current fiscal year.

Institutional Trading of Cinemark

Several hedge funds and other institutional investors have recently modified their holdings of the stock. CANADA LIFE ASSURANCE Co boosted its holdings in shares of Cinemark by 0.5% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 122,908 shares of the company’s stock worth $2,209,000 after buying an additional 612 shares during the period. NBC Securities Inc. boosted its holdings 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 period. Watershed Asset Management L.L.C. boosted its holdings 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 valued at $221,000 after purchasing an additional 915 shares during the period. QRG Capital Management Inc. boosted its holdings in Cinemark by 5.9% in the 2nd quarter. QRG Capital Management Inc. now owns 20,557 shares of the company’s stock valued at $444,000 after purchasing an additional 1,148 shares during the period. Finally, Louisiana State Employees Retirement System boosted its holdings in Cinemark by 2.3% in the 2nd quarter. Louisiana State Employees Retirement System now owns 53,700 shares of the company’s stock valued at $1,161,000 after purchasing an additional 1,200 shares during the period.

Cinemark Company Profile

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.