B. Riley Raises Cinemark (NYSE:CNK) Price Target to $16.00

Cinemark (NYSE:CNK) had its price target increased by B. Riley from $14.00 to $16.00 in a research report sent to investors on Friday, Benzinga reports. They currently have a neutral rating on the stock. B. Riley also issued estimates for Cinemark’s Q3 2024 earnings at $0.21 EPS, Q4 2024 earnings at $0.30 EPS and Q4 2025 earnings at $0.50 EPS.

Several other analysts have also issued reports on CNK. Barrington Research restated an outperform rating and issued a $24.00 price objective on shares of Cinemark in a report on Monday, April 22nd. Wedbush reissued an outperform rating and issued a $23.00 price target on shares of Cinemark in a research note on Thursday, April 25th. JPMorgan Chase & Co. upped their price objective on shares of Cinemark from $17.00 to $19.00 and gave the stock a neutral rating in a report on Monday, April 8th. Wells Fargo & Company upgraded shares of Cinemark from an underweight rating to an overweight rating and lifted their target price for the company from $13.00 to $23.00 in a report on Friday, April 5th. Finally, Benchmark restated a buy rating and set a $22.00 price target on shares of Cinemark in a research note on Wednesday, April 10th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Hold and an average target price of $20.33.

Cinemark Stock Up 0.7 %

Shares of NYSE CNK opened at $17.72 on Friday. The company has a market capitalization of $2.15 billion, a P/E ratio of 12.22, a P/E/G ratio of 2.09 and a beta of 2.25. The company has a debt-to-equity ratio of 7.15, a current ratio of 1.45 and a quick ratio of 1.42. The company has a 50 day simple moving average of $17.91 and a 200-day simple moving average of $15.85. Cinemark has a 1 year low of $13.19 and a 1 year high of $20.40.

Cinemark (NYSE:CNK) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.40. Cinemark had a return on equity of 69.48% and a net margin of 7.12%. The company had revenue of $579.00 million during the quarter, compared to analyst estimates of $561.91 million. During the same period in the prior year, the business posted ($0.03) earnings per share. The firm’s revenue for the quarter was down 5.2% compared to the same quarter last year. On average, equities research analysts predict that Cinemark will post 0.86 earnings per share for the current year.

Insider Buying and Selling at Cinemark

In other news, insider Wanda Marie Gierhart sold 19,593 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $16.75, for a total value 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Cinemark

A number of institutional investors and hedge funds have recently made changes to their positions in CNK. Hennessy Advisors Inc. acquired a new stake in Cinemark in the fourth quarter valued at approximately $16,001,000. Norges Bank acquired a new stake in shares of Cinemark in the 4th quarter valued at $7,333,000. First Dallas Securities Inc. lifted its position in shares of Cinemark by 2,363.4% during the 3rd quarter. First Dallas Securities Inc. now owns 511,152 shares of the company’s stock worth $9,380,000 after purchasing an additional 490,402 shares during the last quarter. Jump Financial LLC grew its stake in shares of Cinemark by 2,874.3% during the third quarter. Jump Financial LLC now owns 313,642 shares of the company’s stock worth $5,755,000 after purchasing an additional 303,097 shares in the last quarter. Finally, Peconic Partners LLC purchased a new position in Cinemark in the third quarter valued at $5,505,000.

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.