Macquarie Reaffirms Outperform Rating for Cinemark (NYSE:CNK)

Cinemark (NYSE:CNK)‘s stock had its “outperform” rating restated by Macquarie in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $35.00 target price on the stock. Macquarie’s price objective points to a potential upside of 27.40% from the stock’s previous close.

Several other analysts have also recently issued reports on the company. Barrington Research restated an “outperform” rating and set a $40.00 price objective on shares of Cinemark in a research note on Wednesday. Wedbush restated a “neutral” rating and set a $32.00 price objective on shares of Cinemark in a research note on Tuesday. JPMorgan Chase & Co. cut their price objective on Cinemark from $31.00 to $30.00 and set a “neutral” rating on the stock in a research note on Thursday. Wells Fargo & Company cut their price objective on Cinemark from $38.00 to $36.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 29th. Finally, Morgan Stanley cut their price objective on Cinemark from $40.00 to $35.00 and set an “overweight” rating on the stock in a research note on Thursday. One investment analyst has rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.70.

Cinemark Trading Down 1.1 %

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

Cinemark (NYSE:CNK) last issued 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). The business had revenue of $814.30 million during the quarter, compared to analysts’ expectations of $797.18 million. Cinemark had a net margin of 10.16% and a return on equity of 65.83%. The company’s revenue for the quarter was up 27.5% on a year-over-year basis. During the same period in the prior year, the company posted ($0.15) EPS. Sell-side analysts forecast that Cinemark will post 1.98 EPS for the current fiscal year.

Institutional Trading of Cinemark

A number of institutional investors and hedge funds have recently made changes to their positions in CNK. CWM LLC raised its position in shares of Cinemark by 134.4% during the 3rd quarter. CWM LLC now owns 2,993 shares of the company’s stock worth $83,000 after purchasing an additional 1,716 shares during the period. Creative Planning increased its position in Cinemark by 74.8% in the 3rd quarter. Creative Planning now owns 20,907 shares of the company’s stock valued at $582,000 after acquiring an additional 8,946 shares during the period. International Assets Investment Management LLC acquired a new stake in Cinemark in the 3rd quarter valued at approximately $9,530,000. Assenagon Asset Management S.A. acquired a new stake in Cinemark in the 3rd quarter valued at approximately $12,133,000. Finally, Principal Financial Group Inc. increased its position in Cinemark by 18.8% in the 3rd quarter. Principal Financial Group Inc. now owns 629,782 shares of the company’s stock valued at $17,533,000 after acquiring an additional 99,843 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.