Cinemark (NYSE:CNK) Given New $34.00 Price Target at Roth Capital

Key Points

• Roth Capital has reduced its price target for Cinemark from $36.00 to $34.00, while maintaining a "buy" rating, which indicates a potential upside of 32.84% from the current price.
• Cinemark reported a quarterly earnings miss with $0.63 EPS compared to analysts' expectations of $0.78 EPS, alongside revenue of $940.50 million, slightly below the consensus estimate.
• Analysts’ sentiments are mixed, with two firms giving sell ratings, one a hold rating, and ten assigning buy ratings, leading to a current consensus rating of "Moderate Buy" and a price target of $33.67.

Cinemark (NYSE:CNK - Get Free Report) had its price objective reduced by research analysts at Roth Capital from $36.00 to $34.00 in a research report issued on Monday,Benzinga reports. The firm currently has a "buy" rating on the stock. Roth Capital's price target would suggest a potential upside of 32.84% from the company's current price.

Other equities analysts have also issued research reports about the company. Wells Fargo & Company dropped their price objective on Cinemark from $36.00 to $33.00 and set an "overweight" rating for the company in a research note on Monday. Wall Street Zen lowered Cinemark from a "hold" rating to a "sell" rating in a research note on Saturday. JPMorgan Chase & Co. upped their price objective on Cinemark from $34.00 to $35.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Deutsche Bank Aktiengesellschaft initiated coverage on Cinemark in a research note on Thursday, July 10th. They set a "buy" rating and a $36.00 price target for the company. Finally, Barrington Research reissued an "outperform" rating and set a $36.00 price target on shares of Cinemark in a research note on Monday. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, Cinemark currently has a consensus rating of "Moderate Buy" and a consensus price target of $33.67.

Cinemark Stock Performance

CNK traded down $0.28 during midday trading on Monday, reaching $25.60. The company had a trading volume of 2,331,940 shares, compared to its average volume of 3,863,059. The company has a quick ratio of 0.76, a current ratio of 0.79 and a debt-to-equity ratio of 5.11. The business has a 50-day moving average of $30.68 and a two-hundred day moving average of $29.06. The company has a market cap of $2.94 billion, a P/E ratio of 13.99, a P/E/G ratio of 2.20 and a beta of 1.90. Cinemark has a 1 year low of $23.12 and a 1 year high of $36.28.

Cinemark (NYSE:CNK - Get Free Report) last released its quarterly earnings data on Friday, August 1st. The company reported $0.63 earnings per share for the quarter, missing analysts' consensus estimates of $0.78 by ($0.15). The business had revenue of $940.50 million during the quarter, compared to the consensus estimate of $942.14 million. Cinemark had a return on equity of 59.16% and a net margin of 9.13%. The business's revenue was up 28.1% on a year-over-year basis. During the same period last year, the company earned $0.32 EPS. As a group, equities research analysts predict that Cinemark will post 1.93 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Cinemark news, EVP Melissa Thomas sold 7,200 shares of the firm's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $31.43, for a total transaction of $226,296.00. Following the transaction, the executive vice president directly owned 210,968 shares in the company, valued at $6,630,724.24. This trade represents a 3.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Wanda Marie Gierhart sold 52,524 shares of the stock in a transaction on Friday, June 13th. The shares were sold at an average price of $31.85, for a total value of $1,672,889.40. Following the sale, the insider directly owned 94,890 shares in the company, valued at $3,022,246.50. This trade represents a 35.63% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 84,724 shares of company stock worth $2,724,435 in the last ninety days. 2.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Y Intercept Hong Kong Ltd purchased a new position in shares of Cinemark in the 2nd quarter valued at $1,316,000. AlphaQuest LLC increased its holdings in shares of Cinemark by 169.6% in the 2nd quarter. AlphaQuest LLC now owns 33,673 shares of the company's stock valued at $1,016,000 after acquiring an additional 21,184 shares during the period. Cookson Peirce & Co. Inc. acquired a new stake in shares of Cinemark in the 2nd quarter worth $8,862,000. Praxis Investment Management Inc. purchased a new position in Cinemark during the 2nd quarter worth $200,000. Finally, New York State Teachers Retirement System grew its stake in Cinemark by 0.9% during the 2nd quarter. New York State Teachers Retirement System now owns 102,292 shares of the company's stock worth $3,087,000 after buying an additional 904 shares during the last quarter.

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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