Benchmark Reiterates Buy Rating for Cinemark (NYSE:CNK)

Benchmark reaffirmed their buy rating on shares of Cinemark (NYSE:CNK) in a research note published on Friday morning, Benzinga reports. Benchmark currently has a $23.00 target price on the stock.

Other equities analysts also recently issued reports about the stock. The Goldman Sachs Group reduced their price objective on shares of Cinemark from $16.00 to $12.00 and set a sell rating for the company in a research note on Thursday, January 11th. Wells Fargo & Company raised Cinemark from an underweight rating to an overweight rating and boosted their price target for the stock from $13.00 to $23.00 in a research report on Friday, April 5th. Wedbush reaffirmed an outperform rating and issued a $23.00 target price on shares of Cinemark in a research report on Thursday, April 25th. B. Riley upped their target price on Cinemark from $14.00 to $16.00 and gave the company a neutral rating in a research report on Friday. Finally, JPMorgan Chase & Co. boosted their price target on Cinemark from $17.00 to $19.00 and gave the company a neutral rating in a research note on Monday, April 8th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Cinemark currently has a consensus rating of Hold and a consensus price target of $20.33.

Cinemark Stock Performance

CNK stock opened at $17.02 on Friday. The business’s fifty day moving average is $17.93 and its 200-day moving average is $15.85. The company has a market cap of $2.08 billion, a P/E ratio of 11.73, a price-to-earnings-growth ratio of 2.06 and a beta of 2.25. The company has a quick ratio of 1.45, a current ratio of 1.48 and a debt-to-equity ratio of 7.42. Cinemark has a twelve month low of $13.19 and a twelve month high of $20.40.

Cinemark (NYSE:CNK) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.40. The firm had revenue of $579.00 million during the quarter, compared to analysts’ expectations of $561.91 million. Cinemark had a net margin of 7.12% and a return on equity of 69.48%. The business’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.03) earnings per share. Equities research analysts forecast that Cinemark will post 0.86 EPS for the current year.

Insiders Place Their Bets

In other news, insider Wanda Marie Gierhart sold 19,593 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $16.75, for a total value of $328,182.75. Following the completion of the transaction, the insider now directly owns 179,591 shares in the company, valued at approximately $3,008,149.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Assenagon Asset Management S.A. lifted its stake in shares of Cinemark by 30.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 288,058 shares of the company’s stock valued at $4,059,000 after acquiring an additional 67,851 shares during the last quarter. Federated Hermes Inc. increased its holdings in Cinemark by 17.0% in the fourth quarter. Federated Hermes Inc. now owns 696,859 shares of the company’s stock valued at $9,819,000 after purchasing an additional 101,272 shares during the period. Louisiana State Employees Retirement System acquired a new stake in Cinemark in the fourth quarter valued at $748,000. Schonfeld Strategic Advisors LLC increased its holdings in Cinemark by 276.6% in the third quarter. Schonfeld Strategic Advisors LLC now owns 189,074 shares of the company’s stock valued at $3,470,000 after purchasing an additional 138,874 shares during the period. Finally, Illinois Municipal Retirement Fund acquired a new stake in Cinemark in the fourth quarter valued at $901,000.

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.