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

Key Points

• Cinemark's stock has received an "Outperform" rating from Barrington Research, with a target price of $36.00, indicating a potential upside of 26.08% from its current price.
• The stock has a current price of $28.55 and has shown significant volatility, with a 12-month low of $23.12 and a high of $36.28.
• Ten analysts rate Cinemark as a "Buy" and one as a "Hold," resulting in an average price target of $34.91 based on recent evaluations from multiple research firms.

Cinemark (NYSE:CNK - Get Free Report)'s stock had its "outperform" rating reissued by equities researchers at Barrington Research in a research report issued on Tuesday,Benzinga reports. They currently have a $36.00 target price on the stock. Barrington Research's target price suggests a potential upside of 26.08% from the stock's current price.

Several other research firms also recently weighed in on CNK. Wells Fargo & Company reiterated an "overweight" rating and issued a $33.00 target price (down previously from $36.00) on shares of Cinemark in a report on Monday, August 4th. Wedbush raised shares of Cinemark from a "neutral" rating to an "outperform" rating and raised their target price for the company from $32.00 to $37.00 in a research note on Friday, July 11th. Roth Capital decreased their price target on shares of Cinemark from $36.00 to $34.00 and set a "buy" rating for the company in a report on Monday, August 4th. Wall Street Zen upgraded shares of Cinemark from a "sell" rating to a "hold" rating in a report on Sunday, August 10th. Finally, Benchmark reissued a "buy" rating and issued a $35.00 target price on shares of Cinemark in a research report on Wednesday, July 2nd. Ten research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $34.91.

Cinemark Stock Performance

Shares of CNK traded up $0.55 during trading hours on Tuesday, reaching $28.55. 531,546 shares of the company traded hands, compared to its average volume of 3,927,950. Cinemark has a 12-month low of $23.12 and a 12-month high of $36.28. The company has a quick ratio of 0.88, a current ratio of 0.91 and a debt-to-equity ratio of 4.32. The stock has a market capitalization of $3.28 billion, a P/E ratio of 15.59, a P/E/G ratio of 1.97 and a beta of 1.85. The business has a fifty day moving average price of $27.08 and a 200-day moving average price of $28.50.

Cinemark (NYSE:CNK - Get Free Report) last posted its earnings results on Friday, August 1st. The company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.15). Cinemark had a return on equity of 59.16% and a net margin of 9.13%.The firm had revenue of $940.50 million for the quarter, compared to analysts' expectations of $942.14 million. During the same period in the previous year, the company earned $0.32 earnings per share. The company's revenue was up 28.1% compared to the same quarter last year. Equities analysts anticipate that Cinemark will post 1.93 EPS for the current fiscal year.

Insider Activity at Cinemark

In related news, EVP Melissa Thomas sold 7,200 shares of the company's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $25.17, for a total transaction of $181,224.00. Following the completion of the transaction, the executive vice president owned 203,768 shares in the company, valued at $5,128,840.56. This represents a 3.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Marshall Wace LLP boosted its position in shares of Cinemark by 758.9% during the 2nd quarter. Marshall Wace LLP now owns 4,497,305 shares of the company's stock valued at $135,729,000 after acquiring an additional 3,973,689 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of Cinemark by 106.9% in the second quarter. Assenagon Asset Management S.A. now owns 2,589,372 shares of the company's stock valued at $78,147,000 after buying an additional 1,338,153 shares in the last quarter. Nuveen LLC purchased a new stake in Cinemark in the 1st quarter valued at $32,297,000. Squarepoint Ops LLC grew its holdings in shares of Cinemark by 119.9% during the 2nd quarter. Squarepoint Ops LLC now owns 2,180,513 shares of the company's stock worth $65,808,000 after purchasing an additional 1,188,709 shares during the period. Finally, Man Group plc acquired a new stake in shares of Cinemark during the 2nd quarter worth about $33,953,000.

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.

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