Cinemark (NYSE:CNK) Stock Rating Reaffirmed by Benchmark

Cinemark (NYSE:CNK)‘s stock had its “buy” rating reissued by equities research analysts at Benchmark in a report released on Wednesday, Benzinga reports. They currently have a $22.00 price target on the stock. Benchmark’s target price points to a potential upside of 20.61% from the stock’s previous close.

A number of other research analysts have also weighed in on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Cinemark from $17.00 to $19.00 and gave the company a “neutral” rating in a research note on Monday. Wedbush reiterated an “outperform” rating and set a $20.00 price objective on shares of Cinemark in a research note on Tuesday, February 13th. B. Riley lowered Cinemark from a “buy” rating to a “neutral” rating and reduced their target price for the company from $23.00 to $15.00 in a report on Tuesday, January 2nd. Wells Fargo & Company upgraded Cinemark from an “underweight” rating to an “overweight” rating and upped their price target for the company from $13.00 to $23.00 in a research report on Friday, April 5th. Finally, The Goldman Sachs Group decreased their target price on shares of Cinemark from $16.00 to $12.00 and set a “sell” rating on the stock in a report on Thursday, January 11th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $19.56.

Cinemark Stock Performance

NYSE:CNK opened at $18.24 on Wednesday. The business has a fifty day simple moving average of $17.10 and a two-hundred day simple moving average of $15.89. Cinemark has a 1 year low of $13.19 and a 1 year high of $20.40. The company has a market capitalization of $2.22 billion, a P/E ratio of 14.83, a P/E/G ratio of 2.35 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.

Cinemark (NYSE:CNK) last released its quarterly earnings data on Friday, February 16th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.08). The business had revenue of $638.90 million for the quarter, compared to analysts’ expectations of $619.67 million. Cinemark had a net margin of 6.14% and a return on equity of 72.91%. Cinemark’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period last year, the company earned ($0.82) earnings per share. On average, analysts expect that Cinemark will post 0.82 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Wanda Marie Gierhart sold 19,593 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were 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 directly owns 179,591 shares in the company, valued at approximately $3,008,149.25. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. VitalStone Financial LLC purchased a new stake in Cinemark during the 1st quarter valued at about $27,000. Tower Research Capital LLC TRC grew its holdings in shares of Cinemark by 38.8% in the first quarter. Tower Research Capital LLC TRC now owns 2,680 shares of the company’s stock worth $39,000 after purchasing an additional 749 shares during the last quarter. Coppell Advisory Solutions LLC purchased a new position in shares of Cinemark in the second quarter worth $48,000. State of Wyoming bought a new stake in Cinemark during the 2nd quarter valued at $55,000. Finally, NBC Securities Inc. bought a new stake in Cinemark during the 3rd quarter valued at $74,000.

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.