Cinemark (NYSE:CNK) Hits New 52-Week High at $21.76

Shares of Cinemark Holdings, Inc. (NYSE:CNK) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $21.76 and last traded at $21.71, with a volume of 201745 shares. The stock had previously closed at $21.62.

Analyst Ratings Changes

Several analysts have weighed in on the company. Wells Fargo & Company raised Cinemark from an “underweight” rating to an “overweight” rating and lifted their price objective for the company from $13.00 to $23.00 in a research report on Friday, April 5th. JPMorgan Chase & Co. increased their price objective on Cinemark from $17.00 to $19.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. StockNews.com cut shares of Cinemark from a “hold” rating to a “sell” rating in a report on Thursday, May 30th. B. Riley increased their price target on shares of Cinemark from $14.00 to $16.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. Finally, Wedbush restated an “outperform” rating and issued a $25.00 price objective on shares of Cinemark in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.33.

Cinemark Stock Up 1.0 %

The company has a market cap of $2.67 billion, a P/E ratio of 14.91, a P/E/G ratio of 2.02 and a beta of 2.36. The company has a debt-to-equity ratio of 7.42, a current ratio of 1.48 and a quick ratio of 1.45. The company’s 50-day moving average is $18.07 and its two-hundred day moving average is $16.74.

Cinemark (NYSE:CNK) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.40. Cinemark had a return on equity of 69.48% and a net margin of 7.12%. The firm had revenue of $579.00 million during the quarter, compared to analysts’ expectations of $561.91 million. During the same quarter in the previous year, the business earned ($0.03) earnings per share. The company’s revenue was down 5.2% on a year-over-year basis. As a group, equities analysts predict that Cinemark Holdings, Inc. will post 1.07 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cinemark

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. NBC Securities Inc. increased its position in Cinemark by 17.2% during the fourth quarter. NBC Securities Inc. now owns 4,764 shares of the company’s stock valued at $67,000 after acquiring an additional 700 shares during the last quarter. Virtu Financial LLC purchased a new stake in shares of Cinemark during the 4th quarter valued at about $192,000. Mackenzie Financial Corp bought a new position in shares of Cinemark in the 4th quarter worth approximately $210,000. Watershed Asset Management L.L.C. boosted its holdings in shares of Cinemark by 6.2% in the fourth quarter. Watershed Asset Management L.L.C. now owns 15,658 shares of the company’s stock worth $221,000 after buying an additional 915 shares during the last quarter. Finally, Algert Global LLC bought a new stake in Cinemark during the third quarter valued at approximately $222,000.

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.