Benchmark Reiterates “Buy” Rating for Cinemark (NYSE:CNK)

Cinemark (NYSE:CNK)‘s stock had its “buy” rating reiterated by research analysts at Benchmark in a note issued to investors on Tuesday, Benzinga reports. They currently have a $21.00 target price on the stock. Benchmark’s price target indicates a potential upside of 24.26% from the stock’s current price.

Other equities research analysts also recently issued research reports about the company. Wedbush restated an “outperform” rating and set a $20.00 price objective on shares of Cinemark in a report on Monday, August 7th. StockNews.com initiated coverage on Cinemark in a research note on Thursday, August 17th. They issued a “hold” rating for the company. JPMorgan Chase & Co. cut shares of Cinemark from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $21.00 to $18.00 in a report on Wednesday, July 19th. Barrington Research reaffirmed an “outperform” rating and issued a $22.00 price objective (up from $20.00) on shares of Cinemark in a research report on Monday, August 7th. Finally, B. Riley lifted their target price on shares of Cinemark from $23.00 to $24.00 in a research report on Monday, August 7th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $18.94.

Cinemark Trading Up 0.8 %

Shares of CNK stock opened at $16.90 on Tuesday. The company has a market cap of $2.06 billion, a P/E ratio of -67.60, a PEG ratio of 1.41 and a beta of 2.26. Cinemark has a fifty-two week low of $8.28 and a fifty-two week high of $18.85. The stock has a 50 day simple moving average of $16.63 and a two-hundred day simple moving average of $16.10. The company has a debt-to-equity ratio of 9.70, a quick ratio of 1.27 and a current ratio of 1.31.

Cinemark (NYSE:CNK) last released its quarterly earnings data on Friday, August 4th. The company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.26. Cinemark had a negative net margin of 0.28% and a negative return on equity of 4.43%. The company had revenue of $942.30 million for the quarter, compared to analysts’ expectations of $870.21 million. During the same quarter in the prior year, the firm earned $0.17 EPS. The business’s revenue was up 26.6% on a year-over-year basis. Research analysts forecast that Cinemark will post 1.19 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CNK. Wellington Management Group LLP raised its stake in shares of Cinemark by 1.0% during the 1st quarter. Wellington Management Group LLP now owns 13,273,533 shares of the company’s stock valued at $196,316,000 after purchasing an additional 128,530 shares during the period. Vanguard Group Inc. grew its stake in Cinemark by 3.2% during the first quarter. Vanguard Group Inc. now owns 11,649,459 shares of the company’s stock valued at $201,303,000 after acquiring an additional 359,501 shares in the last quarter. Orbis Allan Gray Ltd increased its holdings in Cinemark by 31.2% during the 1st quarter. Orbis Allan Gray Ltd now owns 11,534,006 shares of the company’s stock worth $170,588,000 after acquiring an additional 2,743,262 shares during the period. Marshall Wace LLP lifted its stake in Cinemark by 297.5% in the 2nd quarter. Marshall Wace LLP now owns 3,987,274 shares of the company’s stock worth $65,790,000 after purchasing an additional 2,984,249 shares in the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd boosted its holdings in Cinemark by 26.1% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 3,870,000 shares of the company’s stock valued at $57,237,000 after purchasing an additional 800,000 shares during the period.

About Cinemark

Cinemark Holdings, Inc, together with its subsidiaries, engages in the motion picture exhibition business. As of February 24, 20223 it operated 518 theatres with 5,847 screens in the United States, and South and Central America. The company was founded in 1984 and is headquartered in Plano, Texas.