Cinemark (NYSE:CNK) Receives "Buy" Rating from Benchmark

Cinemark (NYSE:CNK - Get Free Report)'s stock had its "buy" rating reissued by equities researchers at Benchmark in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $35.00 price target on the stock. Benchmark's price target indicates a potential upside of 13.97% from the stock's current price.

A number of other equities analysts have also weighed in on CNK. Barrington Research reaffirmed an "outperform" rating and set a $36.00 target price on shares of Cinemark in a research report on Monday, May 5th. JPMorgan Chase & Co. boosted their price target on shares of Cinemark from $34.00 to $35.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Wedbush restated a "neutral" rating and set a $32.00 price objective on shares of Cinemark in a report on Monday, April 28th. Finally, B. Riley started coverage on shares of Cinemark in a report on Friday, May 16th. They set a "neutral" rating and a $35.00 price objective for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $33.20.

Cinemark Stock Up 1.8%

CNK traded up $0.53 during midday trading on Wednesday, hitting $30.71. The company had a trading volume of 3,558,116 shares, compared to its average volume of 3,172,979. The stock's 50 day moving average price is $31.37 and its 200 day moving average price is $29.28. Cinemark has a 52 week low of $20.43 and a 52 week high of $36.28. The company has a market capitalization of $3.53 billion, a price-to-earnings ratio of 20.20, a PEG ratio of 1.81 and a beta of 1.88. The company has a quick ratio of 0.76, a current ratio of 0.79 and a debt-to-equity ratio of 5.53.

Cinemark (NYSE:CNK - Get Free Report) last issued its earnings results on Friday, May 2nd. The company reported ($0.32) EPS for the quarter, meeting the consensus estimate of ($0.32). Cinemark had a return on equity of 51.68% and a net margin of 8.17%. The company had revenue of $540.70 million during the quarter, compared to the consensus estimate of $604.62 million. During the same period last year, the business posted $0.19 EPS. The firm's revenue for the quarter was down 6.6% compared to the same quarter last year. On average, research analysts anticipate that Cinemark will post 1.93 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Cinemark news, insider Wanda Marie Gierhart sold 52,524 shares of Cinemark stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $31.85, for a total transaction of $1,672,889.40. Following the transaction, the insider owned 94,890 shares of the company's stock, valued at $3,022,246.50. This trade represents a 35.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Valmir Fernandes sold 25,000 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $33.01, for a total value of $825,250.00. Following the completion of the transaction, the insider directly owned 130,612 shares of the company's stock, valued at approximately $4,311,502.12. This represents a 16.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 84,724 shares of company stock valued at $2,724,435. Corporate insiders own 2.10% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. QRG Capital Management Inc. boosted its stake in Cinemark by 3.2% in the fourth quarter. QRG Capital Management Inc. now owns 17,730 shares of the company's stock valued at $549,000 after acquiring an additional 557 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Cinemark by 198.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,320 shares of the company's stock worth $103,000 after purchasing an additional 2,207 shares during the period. Raymond James Financial Inc. purchased a new position in Cinemark in the fourth quarter valued at approximately $1,494,000. Edgestream Partners L.P. bought a new position in Cinemark during the fourth quarter valued at $589,000. Finally, Amundi purchased a new stake in Cinemark in the fourth quarter worth $5,985,000.

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.