Cinemark (NYSE:CNK) Given New $35.00 Price Target at Benchmark

Cinemark (NYSE:CNK) had its target price lowered by equities research analysts at Benchmark from $40.00 to $35.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Benchmark’s price target points to a potential upside of 25.94% from the company’s previous close.

A number of other equities analysts have also recently issued reports on CNK. Wells Fargo & Company decreased their price objective on shares of Cinemark from $38.00 to $36.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 29th. JPMorgan Chase & Co. upped their price target on Cinemark from $29.00 to $31.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Barrington Research reiterated an “outperform” rating and issued a $40.00 price objective on shares of Cinemark in a research report on Wednesday. Wedbush reissued a “neutral” rating and set a $32.00 target price on shares of Cinemark in a research note on Tuesday. Finally, StockNews.com raised Cinemark from a “sell” rating to a “hold” rating in a research note on Sunday, November 10th. One analyst has rated the stock with a sell rating, four have given 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 an average rating of “Moderate Buy” and an average target price of $32.70.

Cinemark Price Performance

Shares of Cinemark stock opened at $27.79 on Thursday. 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 has a 52-week low of $15.74 and a 52-week high of $36.28. The company has a fifty day moving average of $30.44 and a 200-day moving average of $29.76. The stock has a market capitalization of $3.40 billion, a price-to-earnings ratio of 17.82 and a beta of 2.38.

Cinemark (NYSE:CNK) last posted 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 business had revenue of $814.30 million for the quarter, compared to analysts’ expectations of $797.18 million. During the same quarter in the previous year, the company earned ($0.15) earnings per share. The business’s quarterly revenue was up 27.5% on a year-over-year basis. Equities research analysts expect that Cinemark will post 2.08 EPS for the current year.

Hedge Funds Weigh In On Cinemark

A number of hedge funds have recently added to or reduced their stakes in the company. LPL Financial LLC increased its holdings in shares of Cinemark by 6.8% in the 4th quarter. LPL Financial LLC now owns 8,722 shares of the company’s stock worth $270,000 after purchasing an additional 556 shares in the last quarter. QRG Capital Management Inc. increased its holdings in Cinemark by 3.2% in the 4th quarter. QRG Capital Management Inc. now owns 17,730 shares of the company’s stock worth $549,000 after buying an additional 557 shares in the last quarter. Natixis Advisors LLC raised its position in Cinemark by 2.9% in the 3rd quarter. Natixis Advisors LLC now owns 20,638 shares of the company’s stock worth $575,000 after buying an additional 583 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its stake in Cinemark by 3.8% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 16,270 shares of the company’s stock valued at $504,000 after acquiring an additional 591 shares during the period. Finally, Summit Investment Advisors Inc. boosted its holdings in shares of Cinemark by 5.7% during the 4th quarter. Summit Investment Advisors Inc. now owns 11,546 shares of the company’s stock valued at $358,000 after acquiring an additional 618 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.