Cinemark (NYSE:CNK) Stock Rating Reaffirmed by Barrington Research

Cinemark (NYSE:CNK)‘s stock had its “outperform” rating reiterated by investment analysts at Barrington Research in a research note issued on Friday, Benzinga reports. They presently have a $24.00 price objective on the stock. Barrington Research’s price objective points to a potential downside of 3.34% from the stock’s current price.

Other equities analysts also recently issued research reports about the stock. B. Riley upgraded shares of Cinemark from a “neutral” rating to a “buy” rating and upped their price objective for the company from $16.00 to $27.00 in a report on Monday, July 8th. JPMorgan Chase & Co. upped their price objective on Cinemark from $17.00 to $19.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Morgan Stanley increased their target price on Cinemark from $24.00 to $26.00 and gave the company an “overweight” rating in a research report on Thursday, July 18th. Benchmark reissued a “buy” rating and issued a $23.00 price objective on shares of Cinemark in a research note on Monday, July 1st. Finally, Roth Mkm raised Cinemark from a “neutral” rating to a “buy” rating and increased their price objective for the company from $19.00 to $26.00 in a research note on Monday, June 24th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $22.90.

Cinemark Price Performance

Shares of CNK stock traded up $1.74 on Friday, reaching $24.83. The company’s stock had a trading volume of 8,460,953 shares, compared to its average volume of 3,054,579. 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 stock’s fifty day simple moving average is $20.04 and its 200-day simple moving average is $17.98. The company has a market capitalization of $3.04 billion, a price-to-earnings ratio of 17.14, a price-to-earnings-growth ratio of 2.19 and a beta of 2.35. Cinemark has a 1 year low of $13.19 and a 1 year high of $25.37.

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

Hedge Funds Weigh In On Cinemark

Institutional investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC acquired a new stake in Cinemark during the fourth quarter worth about $3,000,000. New York State Teachers Retirement System lifted its holdings in Cinemark by 6.9% during the 4th quarter. New York State Teachers Retirement System now owns 109,351 shares of the company’s stock worth $1,541,000 after buying an additional 7,013 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Cinemark by 3.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 49,483 shares of the company’s stock worth $697,000 after purchasing an additional 1,786 shares during the period. Louisiana State Employees Retirement System acquired a new stake in shares of Cinemark during the 4th quarter worth approximately $748,000. Finally, Mackenzie Financial Corp acquired a new stake in shares of Cinemark during the 4th quarter worth approximately $210,000.

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.