Benchmark Reaffirms "Buy" Rating for Cinemark (NYSE:CNK)

Cinemark (NYSE:CNK - Get Free Report)'s stock had its "buy" rating reissued by stock analysts at Benchmark in a research note issued on Friday, Benzinga reports. They currently have a $23.00 price objective on the stock. Benchmark's target price would suggest a potential upside of 29.83% from the company's current price.

CNK has been the topic of a number of other reports. Barrington Research reissued an "outperform" rating and set a $24.00 target price on shares of Cinemark in a report on Monday, April 22nd. Wedbush restated an "outperform" rating and issued a $23.00 price objective on shares of Cinemark in a research note on Thursday, April 25th. Roth Mkm increased their price target on Cinemark from $17.00 to $19.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 10th. The Goldman Sachs Group cut their price target on Cinemark from $16.00 to $12.00 and set a "sell" rating for the company in a research note on Thursday, January 11th. Finally, JPMorgan Chase & Co. increased their price target on Cinemark from $17.00 to $19.00 and gave the stock a "neutral" rating in a research note on Monday, April 8th. One 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 stock. According to data from MarketBeat.com, Cinemark presently has an average rating of "Hold" and an average target price of $20.33.

Cinemark Stock Performance

Shares of Cinemark stock traded up $0.12 during trading on Friday, reaching $17.72. The company's stock had a trading volume of 3,420,745 shares, compared to its average volume of 3,087,853. The firm has a market cap of $2.15 billion, a PE ratio of 14.40, a P/E/G ratio of 2.06 and a beta of 2.25. The business's 50-day moving average price is $17.88 and its 200-day moving average price is $15.84. Cinemark has a 52 week low of $13.19 and a 52 week high of $20.40. The company has a quick ratio of 1.42, a current ratio of 1.45 and a debt-to-equity ratio of 7.73.

Cinemark (NYSE:CNK - Get Free Report) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.19 earnings per share for the quarter, beating analysts' consensus estimates of ($0.21) by $0.40. Cinemark had a net margin of 6.14% and a return on equity of 72.91%. The company had revenue of $579.00 million for the quarter, compared to the consensus estimate of $561.91 million. During the same period last year, the company posted ($0.03) EPS. The firm's quarterly revenue was down 5.2% compared to the same quarter last year. Equities analysts forecast that Cinemark will post 0.85 earnings per share for the current year.

Insider Activity at Cinemark

In other Cinemark news, insider Wanda Marie Gierhart sold 19,593 shares of the business's stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $16.75, for a total value of $328,182.75. Following the completion of the sale, the insider now owns 179,591 shares in the company, valued at $3,008,149.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Cinemark

Several hedge funds have recently added to or reduced their stakes in CNK. Vanguard Group Inc. lifted its holdings in shares of Cinemark by 1.6% during the third quarter. Vanguard Group Inc. now owns 13,844,490 shares of the company's stock valued at $254,046,000 after purchasing an additional 214,102 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Cinemark by 1.7% during the third quarter. Wellington Management Group LLP now owns 13,550,176 shares of the company's stock worth $248,646,000 after purchasing an additional 232,619 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Cinemark by 9.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,568,871 shares of the company's stock worth $36,195,000 after purchasing an additional 213,593 shares in the last quarter. Hennessy Advisors Inc. grew its position in shares of Cinemark by 14.1% during the first quarter. Hennessy Advisors Inc. now owns 1,295,800 shares of the company's stock worth $23,286,000 after purchasing an additional 160,200 shares in the last quarter. Finally, Park West Asset Management LLC grew its position in shares of Cinemark by 34.3% during the fourth quarter. Park West Asset Management LLC now owns 1,175,000 shares of the company's stock worth $16,556,000 after purchasing an additional 300,000 shares in the last quarter.

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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