Benchmark Lowers Cinemark (NYSE:CNK) Price Target to $35.00

Cinemark (NYSE:CNK) had its price target decreased by analysts at Benchmark from $40.00 to $35.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Benchmark’s price objective indicates a potential upside of 27.40% from the stock’s previous close.

CNK has been the topic of a number of other reports. Barrington Research reaffirmed an “outperform” rating and set a $40.00 price target on shares of Cinemark in a research note on Wednesday. JPMorgan Chase & Co. upped their target price on Cinemark from $29.00 to $31.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. StockNews.com upgraded Cinemark from a “sell” rating to a “hold” rating in a report on Sunday, November 10th. Wedbush restated a “neutral” rating and set a $32.00 price target on shares of Cinemark in a research note on Tuesday. Finally, Macquarie raised their price objective on shares of Cinemark from $32.00 to $34.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. 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 given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $32.70.

Cinemark Stock Performance

Shares of CNK stock opened at $27.47 on Thursday. The company has a quick ratio of 0.96, a current ratio of 0.98 and a debt-to-equity ratio of 3.87. Cinemark has a 52 week low of $15.74 and a 52 week high of $36.28. The firm has a 50 day moving average of $30.33 and a 200-day moving average of $29.75. The company has a market cap of $3.36 billion, a price-to-earnings ratio of 13.53 and a beta of 2.38.

Cinemark (NYSE:CNK) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.06). Cinemark had a return on equity of 65.83% and a net margin of 10.16%. The company had revenue of $814.30 million during the quarter, compared to analyst estimates of $797.18 million. During the same quarter in the previous year, the business posted ($0.15) earnings per share. The company’s revenue for the quarter was up 27.5% compared to the same quarter last year. On average, equities analysts forecast that Cinemark will post 1.98 earnings per share for the current year.

Institutional Investors Weigh In On Cinemark

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

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.