Cinemark (NYSE:CNK - Get Free Report) was upgraded by stock analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a report released on Monday,Zacks.com reports.
Other equities research analysts have also recently issued reports about the company. JPMorgan Chase & Co. raised their target price on Cinemark from $35.00 to $36.00 and gave the company an "overweight" rating in a research report on Monday. Morgan Stanley raised their target price on Cinemark from $28.00 to $30.00 and gave the company an "equal weight" rating in a research report on Thursday, April 30th. Weiss Ratings restated a "hold (c)" rating on shares of Cinemark in a research report on Friday, March 27th. Wells Fargo & Company raised their target price on Cinemark from $32.00 to $36.00 and gave the company an "overweight" rating in a research report on Thursday, April 9th. Finally, Moffett Nathanson upgraded Cinemark from a "neutral" rating to a "buy" rating and set a $30.00 target price on the stock in a research report on Tuesday, January 20th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $33.31.
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Cinemark Price Performance
NYSE:CNK opened at $26.99 on Monday. Cinemark has a 52 week low of $21.60 and a 52 week high of $34.01. The company has a quick ratio of 0.67, a current ratio of 0.71 and a debt-to-equity ratio of 4.81. The stock has a market capitalization of $3.15 billion, a PE ratio of 23.88 and a beta of 1.03. The stock's 50-day moving average price is $28.23 and its 200-day moving average price is $26.42.
Cinemark (NYSE:CNK - Get Free Report) last posted its earnings results on Friday, May 1st. The company reported ($0.06) EPS for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.01). Cinemark had a net margin of 5.31% and a return on equity of 41.31%. The business had revenue of $643.10 million for the quarter, compared to analyst estimates of $632.74 million. During the same quarter last year, the business earned ($0.32) earnings per share. Cinemark's revenue was up 18.9% on a year-over-year basis. As a group, equities analysts expect that Cinemark will post 2.17 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC lifted its stake in Cinemark by 12.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 9,721 shares of the company's stock valued at $277,000 after buying an additional 1,041 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Cinemark by 2.3% in the 1st quarter. Principal Financial Group Inc. now owns 504,805 shares of the company's stock valued at $14,397,000 after buying an additional 11,292 shares in the last quarter. Fifth Third Bancorp lifted its stake in Cinemark by 4,151.3% in the 1st quarter. Fifth Third Bancorp now owns 27,251 shares of the company's stock valued at $777,000 after buying an additional 26,610 shares in the last quarter. Hodges Capital Management Inc. lifted its stake in Cinemark by 31.9% in the 1st quarter. Hodges Capital Management Inc. now owns 243,595 shares of the company's stock valued at $6,947,000 after buying an additional 58,948 shares in the last quarter. Finally, Pictet Asset Management Holding SA lifted its stake in Cinemark by 13.0% in the 1st quarter. Pictet Asset Management Holding SA now owns 18,532 shares of the company's stock valued at $529,000 after buying an additional 2,125 shares in the last quarter.
About Cinemark
(
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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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