Cinemark (NYSE:CNK) Shares Up 3.1%

Cinemark Holdings, Inc. (NYSE:CNK) shot up 3.1% during mid-day trading on Monday . The stock traded as high as $18.94 and last traded at $18.90. 298,228 shares were traded during trading, a decline of 90% from the average session volume of 2,975,393 shares. The stock had previously closed at $18.33.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CNK. Wedbush reaffirmed an “outperform” rating and set a $23.00 price objective on shares of Cinemark in a report on Thursday, April 25th. Wells Fargo & Company raised shares of Cinemark from an “underweight” rating to an “overweight” rating and upped their price objective for the stock from $13.00 to $23.00 in a report on Friday, April 5th. B. Riley upped their price objective on shares of Cinemark from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. JPMorgan Chase & Co. upped their price objective on shares of Cinemark from $17.00 to $19.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Finally, StockNews.com downgraded shares of Cinemark from a “hold” rating to a “sell” rating in a report on Thursday, May 30th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Cinemark has an average rating of “Hold” and a consensus target price of $20.33.

Cinemark Trading Up 3.1 %

The company has a market cap of $2.42 billion, a price-to-earnings ratio of 13.62, a PEG ratio of 1.67 and a beta of 2.27. The company has a debt-to-equity ratio of 7.42, a quick ratio of 1.45 and a current ratio of 1.48. The business’s 50 day moving average price is $17.67 and its 200-day moving average price is $16.41.

Cinemark (NYSE:CNK) last announced its earnings results on Thursday, May 2nd. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.40. The business 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 firm’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same quarter last year, the company posted ($0.03) EPS. On average, research analysts forecast that Cinemark Holdings, Inc. will post 1.1 EPS for the current year.

Hedge Funds Weigh In On Cinemark

Several hedge funds have recently added to or reduced their stakes in CNK. NBC Securities Inc. boosted its stake in shares of Cinemark by 17.2% in the 4th quarter. NBC Securities Inc. now owns 4,764 shares of the company’s stock valued at $67,000 after purchasing an additional 700 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of Cinemark in the 4th quarter valued at approximately $192,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Cinemark in the 3rd quarter valued at approximately $193,000. Mackenzie Financial Corp acquired a new stake in shares of Cinemark in the 4th quarter valued at approximately $210,000. Finally, Watershed Asset Management L.L.C. raised its position in shares of Cinemark by 6.2% in the 4th quarter. Watershed Asset Management L.L.C. now owns 15,658 shares of the company’s stock valued at $221,000 after acquiring an additional 915 shares during the period.

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.