Cinemark (NYSE:CNK) Raised to Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded Cinemark from hold to buy, adding to a generally positive analyst backdrop. The stock now has a Moderate Buy consensus rating and an average price target of $33.31.
• Cinemark reported mixed quarterly results: earnings came in at -$0.06 per share, slightly below expectations, while revenue of $643.1 million topped estimates and rose 18.9% year over year.
• Shares were down 1.5% to $27.05, below the average analyst target but above the 200-day moving average. The company also carries notable leverage, with a debt-to-equity ratio of 5.03.

Cinemark (NYSE:CNK - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued on Saturday.

Other analysts have also issued reports about the stock. Roth Mkm reaffirmed a "buy" rating and issued a $37.00 price objective on shares of Cinemark in a research note on Thursday, April 23rd. Morgan Stanley upped their price objective on shares of Cinemark from $28.00 to $30.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 30th. Zacks Research raised shares of Cinemark from a "hold" rating to a "strong-buy" rating in a research note on Monday, May 4th. JPMorgan Chase & Co. upped their price objective on shares of Cinemark from $35.00 to $36.00 and gave the stock an "overweight" rating in a research note on Monday, May 4th. Finally, Macquarie Infrastructure lowered their price objective on shares of Cinemark from $36.00 to $34.00 and set an "outperform" rating for the company in a research note on Thursday, January 15th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $33.31.

Cinemark Stock Down 1.5%

Shares of CNK opened at $27.05 on Friday. Cinemark has a 12-month low of $21.60 and a 12-month high of $34.01. The firm has a market capitalization of $3.16 billion, a P/E ratio of 23.94 and a beta of 1.03. The firm has a fifty day moving average price of $28.31 and a 200-day moving average price of $26.43. The company has a current ratio of 0.62, a quick ratio of 0.67 and a debt-to-equity ratio of 5.03.

Cinemark (NYSE:CNK - Get Free Report) last posted its quarterly earnings results on Friday, May 1st. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.01). Cinemark had a return on equity of 41.31% and a net margin of 5.31%.The firm had revenue of $643.10 million for the quarter, compared to the consensus estimate of $632.74 million. During the same period in the previous year, the company posted ($0.32) EPS. Cinemark's quarterly revenue was up 18.9% compared to the same quarter last year. Equities research analysts expect that Cinemark will post 2.11 earnings per share for the current year.

Institutional Trading of Cinemark

Hedge funds have recently modified their holdings of the company. EverSource Wealth Advisors LLC lifted its position in shares of Cinemark by 118.5% during the second quarter. EverSource Wealth Advisors LLC now owns 935 shares of the company's stock valued at $28,000 after buying an additional 507 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Cinemark during the third quarter valued at about $63,000. Smartleaf Asset Management LLC lifted its position in shares of Cinemark by 20.1% during the third quarter. Smartleaf Asset Management LLC now owns 3,027 shares of the company's stock valued at $83,000 after buying an additional 506 shares during the last quarter. Leonteq Securities AG purchased a new stake in shares of Cinemark during the fourth quarter valued at about $83,000. Finally, GAMMA Investing LLC lifted its position in shares of Cinemark by 51.8% during the fourth quarter. GAMMA Investing LLC now owns 4,022 shares of the company's stock valued at $93,000 after buying an additional 1,372 shares during the last quarter.

About Cinemark

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.

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