Barrington Research Upgrades Cinemark (NYSE:CNK) to Outperform

Cinemark (NYSE:CNK) was upgraded by equities researchers at Barrington Research from a “market perform” rating to an “outperform” rating in a research note issued on Thursday, Marketbeat.com reports. The brokerage presently has a $36.00 price target on the stock. Barrington Research’s price objective suggests a potential upside of 21.13% from the stock’s current price.

Other analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. lifted their price target on shares of Cinemark from $25.00 to $29.00 and gave the company a “neutral” rating in a report on Monday, October 14th. StockNews.com cut shares of Cinemark from a “hold” rating to a “sell” rating in a research report on Thursday, October 24th. Morgan Stanley raised their price objective on shares of Cinemark from $29.00 to $35.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Macquarie upped their target price on Cinemark from $21.00 to $24.00 and gave the stock an “outperform” rating in a report on Tuesday, July 9th. Finally, Wedbush increased their target price on Cinemark from $31.00 to $32.00 and gave the stock an “outperform” rating in a research report on Tuesday. Two analysts have rated the stock with a sell rating, two have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Cinemark has a consensus rating of “Moderate Buy” and a consensus target price of $29.40.

Cinemark Price Performance

NYSE CNK traded down $0.76 on Thursday, reaching $29.72. 1,852,282 shares of the company’s stock traded hands, compared to its average volume of 2,850,417. The stock has a market cap of $3.64 billion, a PE ratio of 20.63, a P/E/G ratio of 1.94 and a beta of 2.36. Cinemark has a 12 month low of $13.19 and a 12 month high of $31.09. The stock has a 50-day simple moving average of $28.15 and a 200 day simple moving average of $23.03. The company has a debt-to-equity ratio of 6.23, a current ratio of 1.29 and a quick ratio of 1.26.

Cinemark (NYSE:CNK) last released its quarterly earnings data on Friday, August 2nd. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.07 by $0.25. Cinemark had a return on equity of 41.87% and a net margin of 5.05%. The firm had revenue of $734.20 million for the quarter, compared to the consensus estimate of $691.74 million. During the same quarter in the previous year, the business earned $0.80 earnings per share. The company’s quarterly revenue was down 22.1% on a year-over-year basis. As a group, research analysts predict that Cinemark will post 1.41 earnings per share for the current year.

Insider Buying and Selling

In other Cinemark news, insider Valmir Fernandes sold 25,000 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $27.19, for a total transaction of $679,750.00. Following the completion of the sale, the insider now directly owns 204,729 shares in the company, valued at $5,566,581.51. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Cinemark

Several large investors have recently added to or reduced their stakes in CNK. GAMMA Investing LLC grew its position in shares of Cinemark by 106.1% during the third quarter. GAMMA Investing LLC now owns 2,020 shares of the company’s stock worth $56,000 after purchasing an additional 1,040 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. grew its holdings in Cinemark by 38.7% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,145 shares of the company’s stock valued at $68,000 after buying an additional 877 shares in the last quarter. USA Financial Formulas bought a new stake in shares of Cinemark during the third quarter valued at approximately $77,000. 1620 Investment Advisors Inc. purchased a new position in shares of Cinemark in the second quarter worth $79,000. Finally, CWM LLC boosted its position in shares of Cinemark by 134.4% during the third quarter. CWM LLC now owns 2,993 shares of the company’s stock worth $83,000 after acquiring an additional 1,716 shares during the last quarter.

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.