Cinemark (NYSE:CNK) Sets New 1-Year High at $22.31

Shares of Cinemark Holdings, Inc. (NYSE:CNKGet Free Report) hit a new 52-week high during trading on Monday . The stock traded as high as $22.31 and last traded at $22.31, with a volume of 25488 shares changing hands. The stock had previously closed at $21.73.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. StockNews.com lowered shares of Cinemark from a “hold” rating to a “sell” rating in a research report on Thursday, May 30th. B. Riley upgraded Cinemark from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $16.00 to $27.00 in a research note on Monday. JPMorgan Chase & Co. upped their target price on Cinemark from $17.00 to $19.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Roth Mkm upgraded Cinemark from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $19.00 to $26.00 in a report on Monday, June 24th. Finally, Wedbush restated an “outperform” rating and issued a $25.00 price objective on shares of Cinemark in a research note on Thursday, June 27th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Cinemark presently has an average rating of “Moderate Buy” and an average price target of $22.70.

Get Our Latest Report on CNK

Cinemark Price Performance

The firm has a 50 day moving average price of $18.53 and a two-hundred day moving average price of $17.02. The company has a market cap of $2.65 billion, a P/E ratio of 14.94, a P/E/G ratio of 2.04 and a beta of 2.36. The company has a debt-to-equity ratio of 7.42, a quick ratio of 1.45 and a current ratio of 1.48.

Cinemark (NYSE:CNKGet Free Report) last issued its earnings results on Thursday, May 2nd. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.40. Cinemark had a net margin of 7.12% and a return on equity of 69.48%. The firm had revenue of $579.00 million during the quarter, compared to analyst estimates of $561.91 million. During the same quarter last year, the business earned ($0.03) earnings per share. The company’s quarterly revenue was down 5.2% on a year-over-year basis. On average, analysts predict that Cinemark Holdings, Inc. will post 1.07 EPS for the current fiscal year.

Institutional Investors Weigh In On Cinemark

Institutional investors have recently made changes to their positions in the stock. Everence Capital Management Inc. bought a new stake in shares of Cinemark during the 2nd quarter valued at $328,000. Nut Tree Capital Management LP bought a new stake in shares of Cinemark during the first quarter valued at about $13,250,000. Comerica Bank lifted its holdings in shares of Cinemark by 36.4% in the first quarter. Comerica Bank now owns 68,261 shares of the company’s stock worth $1,227,000 after buying an additional 18,198 shares in the last quarter. Jericho Capital Asset Management L.P. bought a new position in shares of Cinemark in the first quarter valued at approximately $15,975,000. Finally, Kodai Capital Management LP grew its stake in Cinemark by 31.7% during the first quarter. Kodai Capital Management LP now owns 373,370 shares of the company’s stock valued at $6,709,000 after acquiring an additional 89,875 shares in the last quarter.

About Cinemark

(Get Free Report)

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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