Cinemark (NYSE:CNK) Raised to Outperform at Barrington Research

Cinemark (NYSE:CNK) was upgraded by equities research analysts at Barrington Research from a “market perform” rating to an “outperform” rating in a note issued to investors on Thursday, MarketBeat.com reports. The brokerage presently has a $36.00 price target on the stock. Barrington Research’s price target indicates a potential upside of 20.62% from the company’s previous close.

Several other equities analysts also recently commented on CNK. The Goldman Sachs Group increased their price objective on shares of Cinemark from $16.00 to $20.00 and gave the company a “sell” rating in a research note on Thursday, September 19th. Wells Fargo & Company raised their price target on shares of Cinemark from $28.00 to $31.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Wedbush raised their price target on shares of Cinemark from $31.00 to $32.00 and gave the company an “outperform” rating in a research note on Tuesday. Morgan Stanley raised their price target on shares of Cinemark from $29.00 to $35.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Finally, Roth Mkm raised their price target on shares of Cinemark from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.80.

Cinemark Stock Performance

NYSE CNK opened at $29.85 on Thursday. The firm has a market capitalization of $3.65 billion, a price-to-earnings ratio of 30.77, a P/E/G ratio of 2.07 and a beta of 2.36. The company has a current ratio of 1.29, a quick ratio of 1.26 and a debt-to-equity ratio of 6.23. The firm’s 50 day simple moving average is $28.24 and its 200 day simple moving average is $23.16. Cinemark has a 1 year low of $13.19 and a 1 year high of $31.09.

Cinemark (NYSE:CNK) last issued its quarterly earnings data on Thursday, October 31st. The company reported $1.19 EPS for the quarter, beating the consensus estimate of $0.58 by $0.61. The business had revenue of $921.80 million during the quarter, compared to the consensus estimate of $894.90 million. Cinemark had a net margin of 5.05% and a return on equity of 41.87%. The firm’s revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.61 EPS. As a group, research analysts expect that Cinemark will post 1.47 earnings per share for the current fiscal year.

Insider Transactions at Cinemark

In other news, insider Valmir Fernandes sold 25,000 shares of the stock in a transaction on Monday, August 19th. The shares were 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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 2.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Cinemark

Several large investors have recently modified their holdings of the company. Principal Financial Group Inc. grew its holdings in Cinemark by 18.8% in the third quarter. Principal Financial Group Inc. now owns 629,782 shares of the company’s stock worth $17,533,000 after purchasing an additional 99,843 shares during the period. Assenagon Asset Management S.A. acquired a new position in shares of Cinemark during the third quarter valued at about $12,133,000. International Assets Investment Management LLC acquired a new position in shares of Cinemark during the third quarter valued at about $9,530,000. Friedenthal Financial acquired a new position in shares of Cinemark during the third quarter valued at about $777,000. Finally, Creative Planning grew its holdings in shares of Cinemark by 74.8% during the third quarter. Creative Planning now owns 20,907 shares of the company’s stock valued at $582,000 after buying an additional 8,946 shares during the last quarter.

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.