Barrington Research Reaffirms “Outperform” Rating for Cinemark (NYSE:CNK)

Barrington Research reiterated their outperform rating on shares of Cinemark (NYSE:CNK) in a research note issued to investors on Monday morning, Benzinga reports. They currently have a $24.00 target price on the stock.

A number of other brokerages have also recently weighed in on CNK. Wells Fargo & Company upgraded shares of Cinemark from an underweight rating to an overweight rating and boosted their price objective for the stock from $13.00 to $23.00 in a research note on Friday, April 5th. Roth Mkm boosted their price objective on shares of Cinemark from $17.00 to $19.00 and gave the stock a neutral rating in a research note on Wednesday, April 10th. Wedbush boosted their price objective on shares of Cinemark from $20.00 to $23.00 and gave the stock an outperform rating in a research note on Thursday, April 18th. Benchmark reiterated a buy rating and set a $22.00 target price on shares of Cinemark in a research note on Wednesday, April 10th. Finally, The Goldman Sachs Group cut their target price on shares of Cinemark from $16.00 to $12.00 and set a sell rating for the company in a research note on Thursday, January 11th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Cinemark presently has an average rating of Hold and an average target price of $20.11.

Cinemark Price Performance

NYSE CNK opened at $17.72 on Monday. The company has a quick ratio of 1.42, a current ratio of 1.45 and a debt-to-equity ratio of 7.73. The stock has a market capitalization of $2.15 billion, a PE ratio of 14.41, a price-to-earnings-growth ratio of 2.11 and a beta of 2.27. The company has a 50 day moving average price of $17.75 and a two-hundred day moving average price of $15.86. Cinemark has a 12-month low of $13.19 and a 12-month high of $20.40.

Cinemark (NYSE:CNK) last issued its quarterly earnings data on Friday, February 16th. The company reported ($0.15) earnings per share 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 firm had revenue of $638.90 million during the quarter, compared to analyst estimates of $619.67 million. During the same quarter in the previous year, the firm posted ($0.82) earnings per share. Cinemark’s quarterly revenue was up 6.5% compared to the same quarter last year. As a group, equities analysts predict that Cinemark will post 0.85 earnings per share for the current fiscal year.

Insider Buying and Selling at Cinemark

In other Cinemark news, insider Wanda Marie Gierhart sold 19,593 shares of the business’s stock in a transaction 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 sale, the insider now owns 179,591 shares of the company’s stock, valued at approximately $3,008,149.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On Cinemark

Several institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Cinemark by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 13,844,490 shares of the company’s stock valued at $254,046,000 after buying an additional 214,102 shares during the period. Wellington Management Group LLP increased its holdings in Cinemark by 1.7% in the 3rd quarter. Wellington Management Group LLP now owns 13,550,176 shares of the company’s stock valued at $248,646,000 after buying an additional 232,619 shares during the period. Dimensional Fund Advisors LP increased its holdings in Cinemark by 9.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,568,871 shares of the company’s stock valued at $36,195,000 after buying an additional 213,593 shares during the period. Hennessy Advisors Inc. grew its holdings 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 worth $23,286,000 after purchasing an additional 160,200 shares during the last quarter. Finally, Park West Asset Management LLC grew its holdings in shares of Cinemark by 34.3% in the 4th 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 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.