Cinemark (NYSE:CNK) Price Target Cut to $35.00 by Analysts at B. Riley Financial

Key Points

• B. Riley Financial cut Cinemark’s price target from $36 to $35 while keeping a neutral rating, implying about 15% upside from the current share price.
• Analyst sentiment is mixed: Goldman Sachs upgraded the stock to neutral, while Zacks downgraded it, and the overall consensus remains Moderate Buy with a $34.58 average target.
• Cinemark reported Q1 earnings of -$0.06 per share, slightly missing estimates, but revenue of $643.1 million beat expectations and rose 18.9% year over year.

Cinemark (NYSE:CNK - Get Free Report) had its price objective reduced by stock analysts at B. Riley Financial from $36.00 to $35.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a "neutral" rating on the stock. B. Riley Financial's price objective suggests a potential upside of 15.27% from the company's current price.

Other analysts have also recently issued research reports about the stock. The Goldman Sachs Group upgraded shares of Cinemark from a "sell" rating to a "neutral" rating and increased their price target for the stock from $23.00 to $30.00 in a research note on Wednesday, July 8th. Weiss Ratings reiterated a "hold (c)" rating on shares of Cinemark in a research note on Wednesday, June 24th. Zacks Research lowered Cinemark from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 2nd. Roth Capital restated a "buy" rating and issued a $38.00 price target on shares of Cinemark in a research report on Friday. Finally, Benchmark upped their price objective on Cinemark from $35.00 to $37.00 and gave the company a "buy" rating in a research note on Wednesday, June 17th. Seven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Cinemark presently has a consensus rating of "Moderate Buy" and a consensus target price of $34.58.

Cinemark Stock Performance

Shares of NYSE CNK traded up $0.51 during trading hours on Friday, reaching $30.36. The stock had a trading volume of 965,191 shares, compared to its average volume of 2,360,847. The firm has a 50-day moving average of $30.05 and a 200-day moving average of $27.74. The firm has a market cap of $3.55 billion, a price-to-earnings ratio of 26.84 and a beta of 0.98. The company has a current ratio of 0.62, a quick ratio of 0.58 and a debt-to-equity ratio of 5.03. Cinemark has a fifty-two week low of $21.60 and a fifty-two week high of $34.73.

Cinemark (NYSE:CNK - Get Free Report) last issued its quarterly earnings data on Friday, May 1st. The company reported ($0.06) earnings per share for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.01). The firm had revenue of $643.10 million during the quarter, compared to analysts' expectations of $632.74 million. Cinemark had a net margin of 5.31% and a return on equity of 41.31%. Cinemark's quarterly revenue was up 18.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.32) EPS. Equities research analysts predict that Cinemark will post 2.18 earnings per share for the current year.

Institutional Trading of Cinemark

Institutional investors have recently modified their holdings of the business. Hudson Bay Capital Management LP boosted its position in shares of Cinemark by 251.2% during the 3rd quarter. Hudson Bay Capital Management LP now owns 398,762 shares of the company's stock worth $11,173,000 after purchasing an additional 285,225 shares in the last quarter. State of New Jersey Common Pension Fund D purchased a new position in shares of Cinemark in the 4th quarter valued at about $1,661,000. UBS Group AG lifted its stake in shares of Cinemark by 49.8% in the fourth quarter. UBS Group AG now owns 1,100,402 shares of the company's stock valued at $25,573,000 after purchasing an additional 365,630 shares during the period. GHP Investment Advisors Inc. boosted its holdings in Cinemark by 80.1% during the first quarter. GHP Investment Advisors Inc. now owns 41,764 shares of the company's stock worth $1,191,000 after buying an additional 18,579 shares in the last quarter. Finally, Saber Capital Managment LLC purchased a new stake in Cinemark during the fourth quarter worth about $6,300,000.

Cinemark Company Profile

Cinemark Holdings, Inc NYSE: CNK is a leading theatrical exhibitor that acquires, develops and operates motion picture theatres under the Cinemark® brand in the United States and Latin America. The company's core business involves the presentation of first-run feature films coupled with an array of in‐theatre services, including concessions, premium auditoriums and loyalty programs. Cinemark's exhibition portfolio encompasses both corporate‐owned and franchised complexes, offering moviegoers a range of experiences from standard screens to large‐format halls.

The company's product offerings extend beyond ticket sales to include an assortment of concession items, such as popcorn, fountain beverages, candy and specialty snacks, as well as bar and lounge concepts in select locations.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.