Cinemark’s (CNK) Outperform Rating Reaffirmed at Barrington Research

Barrington Research reissued their outperform rating on shares of Cinemark (NYSE:CNK) in a research note released on Wednesday morning,Benzinga reports. They currently have a $40.00 target price on the stock.

Several other equities research analysts have also weighed in on the company. JPMorgan Chase & Co. upped their price objective on Cinemark from $29.00 to $31.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. StockNews.com upgraded Cinemark from a “sell” rating to a “hold” rating in a research note on Sunday, November 10th. Macquarie upped their price objective on Cinemark from $32.00 to $34.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Wells Fargo & Company lowered their price objective on Cinemark from $38.00 to $36.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 29th. Finally, Wedbush reiterated a “neutral” rating and issued a $32.00 price objective on shares of Cinemark in a research note on Tuesday. One analyst has rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Cinemark presently has an average rating of “Moderate Buy” and an average target price of $33.20.

Cinemark Trading Down 13.7 %

Shares of CNK opened at $28.53 on Wednesday. Cinemark has a 12-month low of $15.74 and a 12-month high of $36.28. The company has a quick ratio of 0.96, a current ratio of 0.98 and a debt-to-equity ratio of 3.46. The firm has a market capitalization of $3.49 billion, a price-to-earnings ratio of 18.41 and a beta of 2.38. The stock’s 50-day moving average price is $30.44 and its 200 day moving average price is $29.76.

Cinemark (NYSE:CNK) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.06). Cinemark had a net margin of 8.36% and a return on equity of 60.21%. The firm had revenue of $814.30 million for the quarter, compared to the consensus estimate of $797.18 million. During the same quarter in the prior year, the firm earned ($0.15) earnings per share. The company’s revenue was up 27.5% on a year-over-year basis. As a group, research analysts predict that Cinemark will post 2.08 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CNK. CWM LLC lifted its stake in shares of Cinemark by 134.4% in the 3rd quarter. CWM LLC now owns 2,993 shares of the company’s stock valued at $83,000 after purchasing an additional 1,716 shares during the period. Creative Planning lifted its stake in shares of Cinemark by 74.8% in the 3rd quarter. Creative Planning now owns 20,907 shares of the company’s stock valued at $582,000 after purchasing an additional 8,946 shares during the period. International Assets Investment Management LLC acquired a new position in shares of Cinemark in the 3rd quarter valued at $9,530,000. Assenagon Asset Management S.A. acquired a new position in shares of Cinemark in the 3rd quarter valued at $12,133,000. Finally, Principal Financial Group Inc. lifted its stake in shares of Cinemark by 18.8% in the 3rd quarter. Principal Financial Group Inc. now owns 629,782 shares of the company’s stock valued at $17,533,000 after purchasing an additional 99,843 shares during the period.

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.