Cinemark (NYSE:CNK) Earns “Outperform” Rating from Barrington Research

Cinemark (NYSE:CNK)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Barrington Research in a note issued to investors on Wednesday,Benzinga reports. They presently have a $40.00 price objective on the stock. Barrington Research’s price target would suggest a potential upside of 44.31% from the stock’s current price.

Other analysts have also issued reports about the company. Benchmark reissued a “buy” rating and set a $40.00 target price on shares of Cinemark in a report on Friday, January 10th. Macquarie increased their price objective on shares of Cinemark from $32.00 to $34.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. raised their target price on shares of Cinemark from $29.00 to $31.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. Wells Fargo & Company cut their price target on shares of Cinemark from $38.00 to $36.00 and set an “overweight” rating for the company in a report on Wednesday, January 29th. Finally, Wedbush reissued a “neutral” rating and issued a $32.00 price objective on shares of Cinemark in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Cinemark currently has an average rating of “Moderate Buy” and an average price target of $32.70.

Cinemark Trading Down 3.0 %

CNK stock opened at $27.72 on Wednesday. Cinemark has a 52 week low of $15.74 and a 52 week high of $36.28. The company has a debt-to-equity ratio of 3.46, a quick ratio of 0.96 and a current ratio of 0.98. The company’s 50-day simple moving average is $30.33 and its 200 day simple moving average is $29.75. The company has a market capitalization of $3.39 billion, a PE ratio of 17.88 and a beta of 2.38.

Cinemark (NYSE:CNK) last announced its earnings results on Wednesday, February 19th. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.06). The business had revenue of $814.30 million for the quarter, compared to the consensus estimate of $797.18 million. Cinemark had a return on equity of 60.21% and a net margin of 8.36%. The firm’s revenue for the quarter was up 27.5% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.15) earnings per share. As a group, sell-side analysts anticipate that Cinemark will post 2.08 earnings per share for the current year.

Institutional Investors Weigh In On Cinemark

Several hedge funds have recently modified their holdings of the company. Arrowstreet Capital Limited Partnership raised its position in Cinemark by 100.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,104,552 shares of the company’s stock valued at $127,159,000 after purchasing an additional 2,054,579 shares during the last quarter. Candlestick Capital Management LP increased its stake in shares of Cinemark by 48.1% in the fourth quarter. Candlestick Capital Management LP now owns 4,931,618 shares of the company’s stock valued at $152,782,000 after buying an additional 1,601,537 shares during the period. Maverick Capital Ltd. raised its holdings in Cinemark by 1,356.4% in the 3rd quarter. Maverick Capital Ltd. now owns 1,517,771 shares of the company’s stock valued at $42,255,000 after buying an additional 1,413,557 shares during the last quarter. Simcoe Capital Management LLC bought a new position in Cinemark in the 4th quarter valued at approximately $37,763,000. Finally, Man Group plc acquired a new stake in Cinemark during the 4th quarter worth approximately $28,040,000.

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.