Cinemark (NYSE:CNK) Hits New 52-Week High at $22.57

Cinemark Holdings, Inc. (NYSE:CNK)’s stock price reached a new 52-week high on Monday . The company traded as high as $22.57 and last traded at $22.40, with a volume of 339932 shares changing hands. The stock had previously closed at $21.99.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Morgan Stanley boosted their price objective on shares of Cinemark from $24.00 to $26.00 and gave the stock an “overweight” rating in a research note on Thursday, July 18th. Wells Fargo & Company upgraded Cinemark from an “underweight” rating to an “overweight” rating and increased their price objective for the company from $13.00 to $23.00 in a report on Friday, April 5th. Roth Capital upgraded Cinemark from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 24th. Wedbush reiterated an “outperform” rating and issued a $25.00 price target on shares of Cinemark in a research note on Monday. Finally, B. Riley raised Cinemark from a “neutral” rating to a “buy” rating and raised their price target for the stock from $16.00 to $27.00 in a report on Monday, July 8th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Cinemark presently has an average rating of “Moderate Buy” and a consensus target price of $22.90.

Cinemark Stock Up 2.4 %

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 business’s 50-day simple moving average is $19.61 and its 200-day simple moving average is $17.77. The company has a market capitalization of $2.75 billion, a PE ratio of 15.46, a price-to-earnings-growth ratio of 2.02 and a beta of 2.36.

Cinemark (NYSE:CNK) last released its quarterly earnings data on Thursday, May 2nd. The company reported $0.19 earnings per share 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 firm had revenue of $579.00 million for the quarter, compared to analyst estimates of $561.91 million. During the same quarter in the prior year, the business earned ($0.03) earnings per share. The business’s quarterly revenue was down 5.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Cinemark Holdings, Inc. will post 1.09 EPS for the current fiscal year.

Hedge Funds Weigh In On Cinemark

Institutional investors and hedge funds have recently modified their holdings of the stock. Third Point LLC purchased a new position in Cinemark during the first quarter valued at approximately $89,850,000. Steadfast Capital Management LP acquired a new stake in shares of Cinemark during the 1st quarter worth approximately $29,323,000. Hennessy Advisors Inc. purchased a new position in shares of Cinemark during the 4th quarter valued at approximately $16,001,000. Jericho Capital Asset Management L.P. acquired a new position in shares of Cinemark in the 1st quarter valued at $15,975,000. Finally, Nut Tree Capital Management LP purchased a new stake in Cinemark during the first quarter worth $13,250,000.

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.