Wedbush Reaffirms “Neutral” Rating for Cinemark (NYSE:CNK)

Cinemark (NYSE:CNK)‘s stock had its “neutral” rating reissued by research analysts at Wedbush in a note issued to investors on Tuesday,RTT News reports. They presently have a $32.00 target price on the stock. Wedbush’s price target would indicate a potential upside of 12.15% from the stock’s previous close.

CNK has been the subject of several other reports. Barrington Research raised Cinemark from a “market perform” rating to an “outperform” rating and set a $36.00 price objective for the company in a research note on Thursday, October 31st. StockNews.com upgraded Cinemark from a “sell” rating to a “hold” rating in a research report on Sunday, November 10th. JPMorgan Chase & Co. boosted their target price on Cinemark from $29.00 to $31.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. Macquarie boosted their target price on Cinemark from $32.00 to $34.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Benchmark reiterated a “buy” rating and set a $40.00 target price on shares of Cinemark in a research report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $33.20.

Cinemark Stock Down 13.7 %

CNK opened at $28.53 on Tuesday. The business has a 50 day moving average price of $30.44 and a two-hundred day moving average price of $29.76. The company has a quick ratio of 0.96, a current ratio of 0.98 and a debt-to-equity ratio of 3.46. The company has a market cap of $3.49 billion, a PE ratio of 18.41 and a beta of 2.38. Cinemark has a 52 week low of $15.74 and a 52 week high of $36.28.

Cinemark (NYSE:CNK) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.06). The company had revenue of $814.30 million for the quarter, compared to analysts’ expectations of $797.18 million. Cinemark had a net margin of 8.36% and a return on equity of 60.21%. The firm’s revenue was up 27.5% on a year-over-year basis. During the same period in the prior year, the company earned ($0.15) earnings per share. As a group, research analysts anticipate that Cinemark will post 2.08 EPS for the current year.

Institutional Investors Weigh In On Cinemark

A number of institutional investors and hedge funds have recently modified their holdings of CNK. Elequin Capital LP grew its holdings in shares of Cinemark by 211.6% in the 4th quarter. Elequin Capital LP now owns 997 shares of the company’s stock worth $31,000 after acquiring an additional 677 shares during the period. Russell Investments Group Ltd. grew its holdings in shares of Cinemark by 402.4% in the 4th quarter. Russell Investments Group Ltd. now owns 1,030 shares of the company’s stock worth $32,000 after acquiring an additional 825 shares during the period. Quarry LP grew its holdings in shares of Cinemark by 714.8% in the 3rd quarter. Quarry LP now owns 1,491 shares of the company’s stock worth $42,000 after acquiring an additional 1,308 shares during the period. Aster Capital Management DIFC Ltd grew its holdings in shares of Cinemark by 380.0% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,896 shares of the company’s stock worth $59,000 after acquiring an additional 1,501 shares during the period. Finally, R Squared Ltd acquired a new stake in Cinemark during the 4th quarter valued at $63,000.

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.