Benchmark Lowers Cinemark (NYSE:CNK) Price Target to $35.00

Cinemark (NYSE:CNK) had its price objective decreased by equities research analysts at Benchmark from $40.00 to $35.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Benchmark’s price objective would suggest a potential upside of 27.40% from the company’s previous close.

Several other analysts have also issued reports on the stock. Wedbush reissued a “neutral” rating and issued a $32.00 price target on shares of Cinemark in a research report on Tuesday. Barrington Research reissued an “outperform” rating and set a $40.00 target price on shares of Cinemark in a report on Wednesday. Wells Fargo & Company cut their price target on Cinemark from $38.00 to $36.00 and set an “overweight” rating for the company in a report on Wednesday, January 29th. Macquarie boosted their price objective on Cinemark from $32.00 to $34.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, StockNews.com raised Cinemark from a “sell” rating to a “hold” rating in a report on Sunday, November 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $32.70.

Cinemark Stock Performance

NYSE:CNK opened at $27.47 on Thursday. The company has a market capitalization of $3.36 billion, a P/E ratio of 13.53 and a beta of 2.38. The business has a fifty day simple moving average of $30.33 and a two-hundred day simple moving average of $29.75. The company has a debt-to-equity ratio of 3.87, a current ratio of 0.98 and a quick ratio of 0.96. Cinemark has a 1 year low of $15.74 and a 1 year high of $36.28.

Cinemark (NYSE:CNK) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.06). Cinemark had a return on equity of 65.83% and a net margin of 10.16%. The firm had revenue of $814.30 million during the quarter, compared to analysts’ expectations of $797.18 million. During the same period last year, the business posted ($0.15) EPS. The company’s revenue was up 27.5% compared to the same quarter last year. On average, analysts expect that Cinemark will post 1.98 earnings per share for the current year.

Institutional Trading of Cinemark

A number of large investors have recently modified their holdings of the business. Arrowstreet Capital Limited Partnership increased its position in shares of Cinemark by 100.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,104,552 shares of the company’s stock worth $127,159,000 after purchasing an additional 2,054,579 shares during the last quarter. Candlestick Capital Management LP grew its stake in Cinemark by 48.1% in the 4th quarter. Candlestick Capital Management LP now owns 4,931,618 shares of the company’s stock worth $152,782,000 after buying an additional 1,601,537 shares in the last quarter. Maverick Capital Ltd. increased its holdings in shares of Cinemark by 1,356.4% in the 3rd quarter. Maverick Capital Ltd. now owns 1,517,771 shares of the company’s stock worth $42,255,000 after buying an additional 1,413,557 shares during the last quarter. Simcoe Capital Management LLC purchased a new stake in shares of Cinemark during the 4th quarter valued at $37,763,000. Finally, Man Group plc bought a new stake in shares of Cinemark during the 4th quarter worth $28,040,000.

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.