Cinemark (NYSE:CNK) Given Outperform Rating at Wedbush

Wedbush reaffirmed their outperform rating on shares of Cinemark (NYSE:CNK) in a research report sent to investors on Thursday morning, Benzinga reports. Wedbush currently has a $23.00 price target on the stock. 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.

Other analysts also recently issued research reports about the stock. Benchmark reaffirmed a buy rating and set a $22.00 price target on shares of Cinemark in a report on Wednesday, April 10th. The Goldman Sachs Group reduced their target price on Cinemark from $16.00 to $12.00 and set a sell rating on the stock in a report on Thursday, January 11th. Wells Fargo & Company raised Cinemark from an underweight rating to an overweight rating and boosted their price target for the stock from $13.00 to $23.00 in a report on Friday, April 5th. Roth Mkm raised their price objective on Cinemark from $17.00 to $19.00 and gave the company a neutral rating in a research note on Wednesday, April 10th. Finally, B. Riley cut Cinemark from a buy rating to a neutral rating and decreased their target price for the company from $23.00 to $15.00 in a research report on Tuesday, January 2nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Cinemark presently has a consensus rating of Hold and an average target price of $20.11.

Cinemark Price Performance

Cinemark stock opened at $17.65 on Thursday. The firm has a market cap of $2.15 billion, a PE ratio of 14.35, a price-to-earnings-growth ratio of 2.08 and a beta of 2.27. The company has a debt-to-equity ratio of 7.73, a current ratio of 1.45 and a quick ratio of 1.42. The stock’s fifty day moving average price is $17.79 and its two-hundred day moving average price is $15.82. Cinemark has a one year low of $13.19 and a one year high of $20.40.

Cinemark (NYSE:CNK) last issued its quarterly earnings results on Friday, February 16th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.08). Cinemark had a return on equity of 72.91% and a net margin of 6.14%. The company had revenue of $638.90 million during the quarter, compared to the consensus estimate of $619.67 million. During the same quarter in the previous year, the business posted ($0.82) EPS. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. As a group, research analysts expect that Cinemark will post 0.85 EPS for the current fiscal year.

Insider Buying and Selling at Cinemark

In other news, insider Wanda Marie Gierhart sold 19,593 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $16.75, for a total transaction of $328,182.75. Following the sale, the insider now directly owns 179,591 shares in the company, valued at $3,008,149.25. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On Cinemark

Large investors have recently modified their holdings of the business. New York State Teachers Retirement System increased its holdings in Cinemark by 2.3% in the first quarter. New York State Teachers Retirement System now owns 111,815 shares of the company’s stock valued at $2,009,000 after purchasing an additional 2,464 shares during the period. Assenagon Asset Management S.A. grew its position in shares of Cinemark by 24.8% in the 1st quarter. Assenagon Asset Management S.A. now owns 359,434 shares of the company’s stock valued at $6,459,000 after buying an additional 71,376 shares during the last quarter. Hennessy Advisors Inc. grew its position in shares of Cinemark by 14.1% in the 1st quarter. Hennessy Advisors Inc. now owns 1,295,800 shares of the company’s stock valued at $23,286,000 after buying an additional 160,200 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of Cinemark in the fourth quarter valued at about $192,000. Finally, Peconic Partners LLC raised its position in shares of Cinemark by 66.7% during the fourth quarter. Peconic Partners LLC now owns 500,000 shares of the company’s stock worth $7,045,000 after acquiring an additional 200,000 shares during 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.