Wedbush Reaffirms Outperform Rating for Cinemark (NYSE:CNK)

Cinemark (NYSE:CNK - Get Free Report)'s stock had its "outperform" rating restated by Wedbush in a report issued on Thursday, Benzinga reports. They presently have a $23.00 price objective on the stock. Wedbush's price target points to a potential upside of 31.58% from the stock's previous close. Wedbush also issued estimates for Cinemark's Q1 2024 earnings at ($0.15) EPS, Q3 2024 earnings at $0.52 EPS, Q1 2025 earnings at ($0.06) EPS, Q3 2025 earnings at $0.55 EPS, Q4 2025 earnings at $0.55 EPS, FY2025 earnings at $1.66 EPS and FY2026 earnings at $1.93 EPS.

A number of other analysts have also recently issued reports on the company. Barrington Research reaffirmed an "outperform" rating and issued a $24.00 price objective on shares of Cinemark in a research report on Monday. Benchmark reaffirmed a "buy" rating and issued a $22.00 price objective on shares of Cinemark in a research report on Wednesday, April 10th. Roth Mkm raised their price objective on Cinemark from $17.00 to $19.00 and gave the company a "neutral" rating in a research report on Wednesday, April 10th. Wells Fargo & Company raised Cinemark from an "underweight" rating to an "overweight" rating and raised their price objective for the company from $13.00 to $23.00 in a research report on Friday, April 5th. Finally, The Goldman Sachs Group cut their price objective on Cinemark from $16.00 to $12.00 and set a "sell" rating for the company in a research report on Thursday, January 11th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, Cinemark currently has a consensus rating of "Hold" and an average target price of $20.11.

Cinemark Stock Down 1.3 %

NYSE CNK traded down $0.23 during trading hours on Thursday, hitting $17.48. 1,740,398 shares of the company traded hands, compared to its average volume of 3,085,094. The business's 50-day moving average is $17.77 and its 200-day moving average is $15.87. Cinemark has a twelve month low of $13.19 and a twelve month high of $20.40. The company has a debt-to-equity ratio of 7.73, a quick ratio of 1.42 and a current ratio of 1.45. The stock has a market capitalization of $2.13 billion, a price-to-earnings ratio of 14.21, a P/E/G ratio of 2.11 and a beta of 2.27.

Cinemark (NYSE:CNK - Get Free Report) last issued its quarterly earnings results on Friday, February 16th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.08). Cinemark had a net margin of 6.14% and a return on equity of 72.91%. The company had revenue of $638.90 million for the quarter, compared to analyst estimates of $619.67 million. During the same period last year, the company posted ($0.82) earnings per share. The business's revenue for the quarter was up 6.5% on a year-over-year basis. Sell-side analysts anticipate that Cinemark will post 0.85 earnings per share for the current year.

Insider Transactions at Cinemark

In other Cinemark news, insider Wanda Marie Gierhart sold 19,593 shares of the firm's stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $16.75, for a total transaction of $328,182.75. Following the transaction, the insider now owns 179,591 shares in the company, valued at approximately $3,008,149.25. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 2.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Cinemark

Hedge funds have recently added to or reduced their stakes in the stock. NBC Securities Inc. boosted its holdings in shares of Cinemark by 17.2% in the 4th quarter. NBC Securities Inc. now owns 4,764 shares of the company's stock valued at $67,000 after purchasing an additional 700 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Cinemark in the 4th quarter valued at $192,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Cinemark in the 3rd quarter valued at $193,000. Mackenzie Financial Corp acquired a new stake in shares of Cinemark in the 4th quarter valued at $210,000. Finally, Watershed Asset Management L.L.C. boosted its holdings in shares of Cinemark by 6.2% in the 4th quarter. Watershed Asset Management L.L.C. now owns 15,658 shares of the company's stock valued at $221,000 after purchasing an additional 915 shares in 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.