Cinemark (NYSE:CNK) Given “Buy” Rating at Benchmark

Cinemark (NYSE:CNK)‘s stock had its “buy” rating reaffirmed by equities research analysts at Benchmark in a research note issued to investors on Friday,Benzinga reports. They currently have a $40.00 target price on the stock. Benchmark’s price objective would indicate a potential upside of 33.42% from the stock’s previous close.

Several other analysts have also recently issued reports on the stock. Barrington Research upgraded shares of Cinemark from a “market perform” rating to an “outperform” rating and set a $36.00 target price on the stock in a research report on Thursday, October 31st. Roth Mkm raised their price objective on Cinemark from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Wedbush downgraded Cinemark from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 1st. StockNews.com raised shares of Cinemark from a “sell” rating to a “hold” rating in a research note on Sunday, November 10th. Finally, Wells Fargo & Company increased their price objective on shares of Cinemark from $35.00 to $38.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 27th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $32.80.

Cinemark Price Performance

Shares of Cinemark stock traded down $0.45 on Friday, hitting $29.98. 334,175 shares of the company traded hands, compared to its average volume of 1,719,571. The stock has a market capitalization of $3.67 billion, a P/E ratio of 19.34, a price-to-earnings-growth ratio of 1.66 and a beta of 2.40. The business has a 50-day simple moving average of $32.11 and a 200 day simple moving average of $28.06. Cinemark has a 52 week low of $13.19 and a 52 week high of $36.28. The company has a debt-to-equity ratio of 3.46, a quick ratio of 0.96 and a current ratio of 0.98.

Cinemark (NYSE:CNK) last released its quarterly earnings results on Thursday, October 31st. The company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.61. The business had revenue of $921.80 million during the quarter, compared to analysts’ expectations of $894.90 million. Cinemark had a return on equity of 60.21% and a net margin of 8.36%. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.61 EPS. Research analysts expect that Cinemark will post 2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Valmir Fernandes sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $32.68, for a total value of $817,000.00. Following the completion of the transaction, the insider now directly owns 179,729 shares in the company, valued at $5,873,543.72. This trade represents a 12.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 2.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Cinemark

Several hedge funds have recently added to or reduced their stakes in CNK. Quarry LP increased its holdings in shares of Cinemark by 714.8% during the 3rd quarter. Quarry LP now owns 1,491 shares of the company’s stock valued at $42,000 after purchasing an additional 1,308 shares in the last quarter. GAMMA Investing LLC grew its holdings in Cinemark by 106.1% in the 3rd quarter. GAMMA Investing LLC now owns 2,020 shares of the company’s stock valued at $56,000 after buying an additional 1,040 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. grew its holdings in shares of Cinemark by 38.7% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,145 shares of the company’s stock valued at $68,000 after purchasing an additional 877 shares during the period. USA Financial Formulas acquired a new stake in Cinemark during the third quarter worth about $77,000. Finally, CWM LLC raised its stake in Cinemark by 134.4% during the third quarter. CWM LLC now owns 2,993 shares of the company’s stock worth $83,000 after purchasing an additional 1,716 shares during the period.

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.