Cinemark (NYSE:CNK) PT Raised to $24.00

Cinemark (NYSE:CNK) had its price target lifted by equities researchers at Macquarie from $21.00 to $24.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Macquarie’s target price would indicate a potential upside of 11.63% from the company’s current price.

Other analysts also recently issued reports about the company. StockNews.com downgraded Cinemark from a “hold” rating to a “sell” rating in a research report on Thursday, May 30th. Benchmark reaffirmed a “buy” rating and issued a $23.00 target price on shares of Cinemark in a research report on Monday, July 1st. JPMorgan Chase & Co. lifted their target price on Cinemark from $17.00 to $19.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Wells Fargo & Company raised Cinemark from an “underweight” rating to an “overweight” rating and lifted their target price for the company from $13.00 to $23.00 in a research report on Friday, April 5th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $25.00 target price on shares of Cinemark in a research report on Thursday, June 27th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $22.70.

Cinemark Stock Down 0.8 %

Shares of NYSE:CNK opened at $21.50 on Tuesday. The business has a 50-day moving average price of $18.70 and a 200 day moving average price of $17.11. 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 company has a market capitalization of $2.63 billion, a price-to-earnings ratio of 14.83, a PEG ratio of 2.04 and a beta of 2.36. Cinemark has a 12-month low of $13.19 and a 12-month high of $22.19.

Cinemark (NYSE:CNK) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.40. The firm had revenue of $579.00 million during the quarter, compared to the consensus estimate of $561.91 million. Cinemark had a return on equity of 69.48% and a net margin of 7.12%. The company’s quarterly revenue was down 5.2% on a year-over-year basis. During the same period last year, the company earned ($0.03) EPS. Sell-side analysts expect that Cinemark will post 1.07 EPS for the current year.

Hedge Funds Weigh In On Cinemark

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Third Point LLC purchased a new stake in Cinemark during the first quarter worth approximately $89,850,000. Steadfast Capital Management LP purchased a new stake in Cinemark during the first quarter worth approximately $29,323,000. Hennessy Advisors Inc. purchased a new stake in Cinemark during the fourth quarter worth approximately $16,001,000. Jericho Capital Asset Management L.P. purchased a new stake in Cinemark during the first quarter worth approximately $15,975,000. Finally, Nut Tree Capital Management LP purchased a new stake in Cinemark during the first quarter worth approximately $13,250,000.

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.