Cinemark (NYSE:CNK) Receives Outperform Rating from Barrington Research

Cinemark (NYSE:CNK - Get Free Report)'s stock had its "outperform" rating restated by analysts at Barrington Research in a research report issued to clients and investors on Monday,Benzinga reports. They presently have a $36.00 target price on the stock. Barrington Research's price objective would suggest a potential upside of 24.10% from the company's current price.

A number of other research analysts have also weighed in on CNK. JPMorgan Chase & Co. raised their target price on shares of Cinemark from $34.00 to $35.00 and gave the stock an "overweight" rating in a research note on Monday. Morgan Stanley cut their target price on Cinemark from $40.00 to $35.00 and set an "overweight" rating for the company in a research note on Thursday, February 20th. Benchmark lowered their price target on shares of Cinemark from $40.00 to $35.00 and set a "buy" rating on the stock in a research report on Thursday, February 20th. Macquarie restated an "outperform" rating and set a $35.00 price objective on shares of Cinemark in a research report on Thursday, February 20th. Finally, Wells Fargo & Company decreased their target price on shares of Cinemark from $38.00 to $36.00 and set an "overweight" rating on the stock in a report on Wednesday, January 29th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Cinemark presently has a consensus rating of "Moderate Buy" and an average target price of $32.80.

Cinemark Price Performance

CNK stock traded down $1.29 during trading on Monday, hitting $29.01. The stock had a trading volume of 2,235,246 shares, compared to its average volume of 2,989,303. Cinemark has a twelve month low of $16.32 and a twelve month high of $36.28. The company's 50-day moving average price is $26.40 and its two-hundred day moving average price is $29.33. The company has a debt-to-equity ratio of 3.28, a current ratio of 1.01 and a quick ratio of 0.96. The stock has a market capitalization of $3.42 billion, a P/E ratio of 14.32 and a beta of 2.07.

Cinemark (NYSE:CNK - Get Free Report) last announced its quarterly earnings data on Friday, May 2nd. The company reported ($0.32) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.32). The company had revenue of $540.70 million for the quarter, compared to analyst estimates of $604.62 million. Cinemark had a return on equity of 65.83% and a net margin of 10.16%. The firm's revenue for the quarter was down 6.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.19 EPS. As a group, research analysts predict that Cinemark will post 1.93 EPS for the current fiscal year.

Insider Activity

In other Cinemark news, insider Wanda Marie Gierhart sold 9,119 shares of the firm's stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $27.00, for a total value of $246,213.00. Following the completion of the transaction, the insider now owns 147,414 shares of the company's stock, valued at $3,980,178. This trade represents a 5.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 2.10% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Jennison Associates LLC purchased a new position in shares of Cinemark in the 1st quarter valued at about $789,000. Tectonic Advisors LLC raised its holdings in Cinemark by 50.2% in the first quarter. Tectonic Advisors LLC now owns 41,645 shares of the company's stock valued at $1,037,000 after acquiring an additional 13,924 shares in the last quarter. CWM LLC grew its holdings in Cinemark by 20.6% during the 1st quarter. CWM LLC now owns 6,548 shares of the company's stock worth $163,000 after acquiring an additional 1,118 shares in the last quarter. Cerity Partners LLC purchased a new stake in shares of Cinemark in the 1st quarter valued at approximately $2,081,000. Finally, Alps Advisors Inc. purchased a new stake in shares of Cinemark during the 1st quarter worth $359,000.

About Cinemark

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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