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

Cinemark (NYSE:CNK)‘s stock had its “outperform” rating restated by equities research analysts at Barrington Research in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $40.00 price objective on the stock. Barrington Research’s target price suggests a potential upside of 37.88% from the stock’s current price.

A number of other brokerages also recently issued reports on CNK. Benchmark reiterated a “buy” rating and issued a $40.00 price target on shares of Cinemark in a report on Friday, January 10th. Wedbush reiterated a “neutral” rating and issued a $32.00 price target on shares of Cinemark in a report on Tuesday. StockNews.com upgraded Cinemark from a “sell” rating to a “hold” rating in a report on Sunday, November 10th. JPMorgan Chase & Co. boosted their target price on Cinemark from $29.00 to $31.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. Finally, Wells Fargo & Company dropped their target price on Cinemark from $38.00 to $36.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $33.20.

Cinemark Trading Down 12.3 %

CNK traded down $4.05 during trading on Wednesday, hitting $29.01. 10,401,696 shares of the stock were exchanged, compared to its average volume of 2,500,016. The firm has a 50 day simple moving average of $30.54 and a 200 day simple moving average of $29.72. The firm has a market cap of $3.55 billion, a price-to-earnings ratio of 18.72 and a beta of 2.38. Cinemark has a 1 year low of $15.74 and a 1 year high of $36.28. The company has a debt-to-equity ratio of 3.46, a quick ratio of 0.96 and a current ratio of 0.98.

Cinemark (NYSE:CNK) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.06). Cinemark had a return on equity of 60.21% and a net margin of 8.36%. As a group, equities analysts expect that Cinemark will post 2.08 EPS for the current year.

Institutional Trading of Cinemark

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CNK. Elequin Capital LP lifted its position in Cinemark by 211.6% during the 4th quarter. Elequin Capital LP now owns 997 shares of the company’s stock worth $31,000 after acquiring an additional 677 shares during the period. Russell Investments Group Ltd. lifted its holdings in shares of Cinemark by 402.4% in the 4th quarter. Russell Investments Group Ltd. now owns 1,030 shares of the company’s stock valued at $32,000 after buying an additional 825 shares during the period. Quarry LP lifted its holdings in shares of Cinemark by 714.8% in the 3rd quarter. Quarry LP now owns 1,491 shares of the company’s stock valued at $42,000 after buying an additional 1,308 shares during the period. Aster Capital Management DIFC Ltd lifted its holdings in shares of Cinemark by 380.0% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,896 shares of the company’s stock valued at $59,000 after buying an additional 1,501 shares during the period. Finally, R Squared Ltd acquired a new position in shares of Cinemark in the 4th quarter valued at about $63,000.

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.