Benchmark Reiterates Buy Rating for Cinemark (NYSE:CNK)

Benchmark reissued their buy rating on shares of Cinemark (NYSE:CNK) in a research note published on Monday, Benzinga reports. Benchmark currently has a $23.00 price target on the stock.

CNK has been the topic of a number of other research reports. Wedbush reissued an outperform rating and issued a $25.00 target price on shares of Cinemark in a report on Thursday, June 27th. StockNews.com lowered Cinemark from a hold rating to a sell rating in a research report on Thursday, May 30th. Roth Capital upgraded Cinemark from a hold rating to a strong-buy rating in a research note on Monday, June 24th. JPMorgan Chase & Co. boosted their price target on Cinemark from $17.00 to $19.00 and gave the stock a neutral rating in a research report on Monday, April 8th. Finally, B. Riley increased their price target on Cinemark from $14.00 to $16.00 and gave the company a neutral rating in a research note on Friday, May 3rd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $21.33.

Cinemark Stock Performance

Cinemark stock opened at $21.36 on Monday. Cinemark has a 12-month low of $13.19 and a 12-month high of $21.87. The company has a debt-to-equity ratio of 7.42, a current ratio of 1.48 and a quick ratio of 1.45. The company has a market capitalization of $2.61 billion, a price-to-earnings ratio of 14.73, a price-to-earnings-growth ratio of 2.00 and a beta of 2.36. The firm’s fifty day moving average price is $18.36 and its 200 day moving average price is $16.89.

Cinemark (NYSE:CNK) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.40. Cinemark had a return on equity of 69.48% and a net margin of 7.12%. The business had revenue of $579.00 million during the quarter, compared to the consensus estimate of $561.91 million. During the same period last year, the firm earned ($0.03) earnings per share. The company’s revenue for the quarter was down 5.2% compared to the same quarter last year. On average, research analysts forecast that Cinemark will post 1.07 EPS for the current fiscal year.

Institutional Investors Weigh In On Cinemark

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Third Point LLC purchased a new stake in shares of Cinemark during the first quarter worth $89,850,000. Steadfast Capital Management LP acquired a new position in Cinemark in the 1st quarter worth about $29,323,000. Hennessy Advisors Inc. purchased a new stake in shares of Cinemark during the 4th quarter worth about $16,001,000. Jericho Capital Asset Management L.P. acquired a new stake in shares of Cinemark during the 1st quarter valued at about $15,975,000. Finally, Nut Tree Capital Management LP bought a new stake in shares of Cinemark in the 1st quarter valued at approximately $13,250,000.

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.