Cinemark Holdings, Inc. (NYSE:CNK) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Cinemark Holdings, Inc. (NYSE:CNK) have earned an average recommendation of “Moderate Buy” from the eleven research firms that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, six have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $32.60.

CNK has been the subject of a number of analyst reports. Morgan Stanley lifted their target price on shares of Cinemark from $29.00 to $35.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Macquarie lifted their price objective on Cinemark from $32.00 to $34.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Benchmark reissued a “buy” rating and issued a $40.00 price objective on shares of Cinemark in a research note on Friday, January 10th. Wedbush cut Cinemark from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 1st. Finally, Barrington Research raised Cinemark from a “market perform” rating to an “outperform” rating and set a $36.00 price target on the stock in a research note on Thursday, October 31st.

Insider Buying and Selling at Cinemark

In related news, insider Valmir Fernandes sold 25,000 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $32.68, for a total value of $817,000.00. Following the sale, the insider now owns 179,729 shares in the company, valued at $5,873,543.72. This represents a 12.21 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 2.30% of the company’s stock.

Institutional Trading of Cinemark

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CNK. Quarry LP boosted its position in shares of Cinemark by 714.8% during the third quarter. Quarry LP now owns 1,491 shares of the company’s stock valued at $42,000 after buying an additional 1,308 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Cinemark by 106.1% during the 3rd quarter. GAMMA Investing LLC now owns 2,020 shares of the company’s stock worth $56,000 after acquiring an additional 1,040 shares during the last quarter. R Squared Ltd purchased a new position in Cinemark during the 4th quarter worth $63,000. Point72 Asia Singapore Pte. Ltd. raised 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 last quarter. Finally, USA Financial Formulas bought a new position in shares of Cinemark during the third quarter valued at about $77,000.

Cinemark Price Performance

Shares of CNK opened at $28.93 on Thursday. The business has a 50-day moving average of $31.49 and a 200-day moving average of $28.85. The company has a debt-to-equity ratio of 3.46, a current ratio of 0.98 and a quick ratio of 0.96. The company has a market capitalization of $3.54 billion, a price-to-earnings ratio of 18.66 and a beta of 2.40. Cinemark has a 1 year low of $13.45 and a 1 year high of $36.28.

Cinemark (NYSE:CNK) last released its quarterly earnings results on Thursday, October 31st. The company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.61. Cinemark had a net margin of 8.36% and a return on equity of 60.21%. The firm had revenue of $921.80 million during the quarter, compared to analyst estimates of $894.90 million. During the same quarter last year, the business earned $0.61 EPS. The company’s revenue was up 5.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Cinemark will post 2.06 earnings per share for the current year.

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.