Cinemark (NYSE:CNK) Earns Buy Rating from Benchmark

Cinemark (NYSE:CNK)‘s stock had its “buy” rating reiterated by investment analysts at Benchmark in a research note issued on Monday, Benzinga reports. They presently have a $23.00 price objective on the stock. Benchmark’s target price indicates a potential upside of 7.30% from the stock’s current price.

CNK has been the subject of several other research reports. Barrington Research restated an “outperform” rating and set a $24.00 price objective on shares of Cinemark in a research report on Monday, June 17th. Roth Mkm upgraded shares of Cinemark from a “neutral” rating to a “buy” rating and upped their target price for the company from $19.00 to $26.00 in a report on Monday, June 24th. Wedbush reiterated an “outperform” rating and set a $25.00 price target on shares of Cinemark in a research note on Thursday, June 27th. B. Riley increased their price target on shares of Cinemark from $14.00 to $16.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. Finally, Roth Capital upgraded shares of Cinemark from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 24th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $21.33.

Cinemark Trading Down 0.6 %

Shares of CNK stock opened at $21.44 on Monday. 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 $2.62 billion, a P/E ratio of 14.78, a price-to-earnings-growth ratio of 2.02 and a beta of 2.36. The company has a 50 day moving average price of $18.21 and a 200 day moving average price of $16.83. Cinemark has a fifty-two week low of $13.19 and a fifty-two week high of $21.87.

Cinemark (NYSE:CNK) last announced 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. Cinemark had a net margin of 7.12% and a return on equity of 69.48%. The firm had revenue of $579.00 million during the quarter, compared to analysts’ expectations of $561.91 million. During the same quarter in the previous year, the business posted ($0.03) earnings per share. The business’s quarterly revenue was down 5.2% compared to the same quarter last year. Equities research analysts predict that Cinemark will post 1.07 EPS for the current fiscal year.

Hedge Funds Weigh In On Cinemark

Several hedge funds have recently added to or reduced their stakes in CNK. NBC Securities Inc. increased its holdings in Cinemark by 17.2% during the 4th quarter. NBC Securities Inc. now owns 4,764 shares of the company’s stock valued at $67,000 after acquiring an additional 700 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Cinemark during the 4th quarter worth about $192,000. Mackenzie Financial Corp acquired a new stake in shares of Cinemark during the 4th quarter worth about $210,000. Watershed Asset Management L.L.C. boosted its stake in shares of Cinemark by 6.2% during the 4th quarter. Watershed Asset Management L.L.C. now owns 15,658 shares of the company’s stock worth $221,000 after purchasing an additional 915 shares during the last quarter. Finally, Algert Global LLC acquired a new stake in shares of Cinemark in the third quarter worth approximately $222,000.

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.