Morgan Stanley Issues Pessimistic Forecast for Cinemark (NYSE:CNK) Stock Price

Cinemark (NYSE:CNK) had its target price reduced by research analysts at Morgan Stanley from $40.00 to $35.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s price target points to a potential upside of 27.40% from the stock’s current price.

A number of other research analysts also recently commented on the company. StockNews.com upgraded Cinemark from a “sell” rating to a “hold” rating in a research report on Sunday, November 10th. Benchmark lowered their target price on Cinemark from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Thursday. Barrington Research reiterated an “outperform” rating and set a $40.00 target price on shares of Cinemark in a research report on Wednesday. Macquarie increased their target price on Cinemark from $32.00 to $34.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, Wedbush reiterated a “neutral” rating and set a $32.00 target price on shares of Cinemark in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Cinemark currently has an average rating of “Moderate Buy” and a consensus price target of $32.70.

Cinemark Trading Down 1.1 %

CNK stock opened at $27.47 on Thursday. Cinemark has a 1-year low of $15.74 and a 1-year high of $36.28. The company has a debt-to-equity ratio of 3.87, a current ratio of 0.98 and a quick ratio of 0.96. The company has a market capitalization of $3.36 billion, a price-to-earnings ratio of 13.53 and a beta of 2.38. The business has a 50 day simple moving average of $30.33 and a two-hundred day simple moving average of $29.75.

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

Institutional Trading of Cinemark

A number of institutional investors have recently bought and sold shares of CNK. Elequin Capital LP increased its stake in Cinemark by 211.6% in the fourth quarter. Elequin Capital LP now owns 997 shares of the company’s stock worth $31,000 after purchasing an additional 677 shares during the period. Russell Investments Group Ltd. increased its stake in Cinemark by 402.4% in the fourth quarter. Russell Investments Group Ltd. now owns 1,030 shares of the company’s stock worth $32,000 after purchasing an additional 825 shares during the period. Quarry LP increased its stake in Cinemark by 714.8% in the third quarter. Quarry LP now owns 1,491 shares of the company’s stock worth $42,000 after purchasing an additional 1,308 shares during the period. Aster Capital Management DIFC Ltd increased its stake in Cinemark by 380.0% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,896 shares of the company’s stock worth $59,000 after purchasing an additional 1,501 shares during the period. Finally, R Squared Ltd purchased a new stake in Cinemark in the fourth 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.