Cinemark (NYSE:CNK) Stock Rating Reaffirmed by Wedbush

Wedbush reiterated their outperform rating on shares of Cinemark (NYSE:CNK) in a report published on Thursday, Benzinga reports. They currently have a $23.00 price objective on the stock. Wedbush also issued estimates for Cinemark’s Q1 2024 earnings at ($0.15) EPS, Q3 2024 earnings at $0.52 EPS, Q1 2025 earnings at ($0.06) EPS, Q3 2025 earnings at $0.55 EPS, Q4 2025 earnings at $0.55 EPS, FY2025 earnings at $1.66 EPS and FY2026 earnings at $1.93 EPS.

A number of other research analysts also recently commented on the stock. Benchmark reaffirmed a buy rating and set a $22.00 price objective on shares of Cinemark in a research report on Wednesday, April 10th. Barrington Research reaffirmed an outperform rating and set a $24.00 price objective on shares of Cinemark in a research report on Monday. Wells Fargo & Company raised shares of Cinemark from an underweight rating to an overweight rating and boosted their target price for the stock from $13.00 to $23.00 in a research report on Friday, April 5th. Roth Mkm boosted their target price on shares of Cinemark from $17.00 to $19.00 and gave the stock a neutral rating in a research report on Wednesday, April 10th. Finally, B. Riley downgraded shares of Cinemark from a buy rating to a neutral rating and decreased their target price for the stock from $23.00 to $15.00 in a research report on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of Hold and an average target price of $20.11.

Cinemark Trading Up 0.5 %

Shares of CNK stock traded up $0.08 during trading hours on Thursday, reaching $17.56. 486,828 shares of the stock traded hands, compared to its average volume of 3,052,682. Cinemark has a 1-year low of $13.19 and a 1-year high of $20.40. The business has a fifty day moving average price of $17.77 and a 200 day moving average price of $15.87. The company has a quick ratio of 1.42, a current ratio of 1.45 and a debt-to-equity ratio of 7.73. The firm has a market capitalization of $2.14 billion, a PE ratio of 14.21, a PEG ratio of 2.09 and a beta of 2.27.

Cinemark (NYSE:CNK) last announced its quarterly earnings data on Friday, February 16th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.08). Cinemark had a net margin of 6.14% and a return on equity of 72.91%. The company had revenue of $638.90 million for the quarter, compared to analysts’ expectations of $619.67 million. During the same period in the previous year, the firm posted ($0.82) earnings per share. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. On average, equities research analysts forecast that Cinemark will post 0.85 EPS for the current year.

Insider Buying and Selling

In related news, insider Wanda Marie Gierhart sold 19,593 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $16.75, for a total transaction of $328,182.75. Following the completion of the sale, the insider now directly owns 179,591 shares of the company’s stock, valued at approximately $3,008,149.25. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Cinemark

Several large investors have recently bought and sold shares of the stock. NBC Securities Inc. raised its stake in Cinemark by 17.2% during the 4th quarter. NBC Securities Inc. now owns 4,764 shares of the company’s stock valued at $67,000 after purchasing an additional 700 shares during the last quarter. Watershed Asset Management L.L.C. raised its stake in Cinemark by 6.2% during the 4th quarter. Watershed Asset Management L.L.C. now owns 15,658 shares of the company’s stock valued at $221,000 after purchasing an additional 915 shares during the last quarter. Los Angeles Capital Management LLC raised its stake in Cinemark by 1.7% during the 3rd quarter. Los Angeles Capital Management LLC now owns 58,368 shares of the company’s stock valued at $1,071,000 after purchasing an additional 967 shares during the last quarter. First National Bank of Hutchinson raised its stake in Cinemark by 1.4% during the 3rd quarter. First National Bank of Hutchinson now owns 69,853 shares of the company’s stock valued at $1,282,000 after purchasing an additional 989 shares during the last quarter. Finally, Natixis Advisors L.P. raised its stake in Cinemark by 5.9% during the 3rd quarter. Natixis Advisors L.P. now owns 22,210 shares of the company’s stock valued at $408,000 after purchasing an additional 1,241 shares during the last quarter.

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.