Cinemark’s (CNK) “Outperform” Rating Reaffirmed at Wedbush

Wedbush reissued their outperform rating on shares of Cinemark (NYSE:CNKGet Rating) in a research note issued to investors on Tuesday morning, MarketBeat.com reports. The brokerage currently has a $22.00 target price on the stock. Wedbush also issued estimates for Cinemark’s Q2 2022 earnings at $0.19 EPS, Q3 2022 earnings at ($0.04) EPS, Q4 2022 earnings at $0.05 EPS, FY2022 earnings at ($0.42) EPS, Q1 2023 earnings at $0.07 EPS, Q2 2023 earnings at $0.32 EPS, Q3 2023 earnings at $0.28 EPS, Q4 2023 earnings at $0.24 EPS, FY2023 earnings at $0.91 EPS and FY2024 earnings at $1.51 EPS.

Several other analysts also recently commented on the company. StockNews.com downgraded Cinemark from a hold rating to a sell rating in a research note on Wednesday, May 4th. Morgan Stanley upgraded Cinemark from an equal weight rating to an overweight rating and set a $22.00 price objective on the stock in a research report on Tuesday, July 19th. Benchmark set a $27.00 price objective on Cinemark in a research note on Tuesday, July 19th. Finally, B. Riley reduced their price objective on Cinemark from $29.00 to $23.00 and set a buy rating on the stock in a research note on Tuesday, June 21st. Two analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Cinemark currently has a consensus rating of Hold and a consensus price target of $22.08.

Cinemark Stock Down 13.4 %

NYSE:CNK opened at $16.75 on Tuesday. The company has a debt-to-equity ratio of 8.60, a quick ratio of 1.09 and a current ratio of 1.11. The stock has a 50-day simple moving average of $16.44 and a 200 day simple moving average of $16.38. The company has a market cap of $2.02 billion, a PE ratio of -6.95 and a beta of 2.15. Cinemark has a 52-week low of $13.37 and a 52-week high of $23.15.

Cinemark (NYSE:CNKGet Rating) last announced its quarterly earnings data on Friday, May 6th. The company reported ($0.62) earnings per share for the quarter, missing the consensus estimate of ($0.61) by ($0.01). The company had revenue of $460.50 million during the quarter, compared to analyst estimates of $454.52 million. Cinemark had a negative net margin of 15.54% and a negative return on equity of 85.71%. Cinemark’s revenue was up 302.5% on a year-over-year basis. During the same period in the prior year, the firm earned ($1.75) earnings per share. On average, sell-side analysts expect that Cinemark will post -0.46 EPS for the current fiscal year.

Institutional Trading of Cinemark

Large investors have recently modified their holdings of the business. Elequin Capital LP bought a new stake in shares of Cinemark in the first quarter worth about $25,000. Point72 Hong Kong Ltd bought a new stake in Cinemark during the 4th quarter valued at approximately $32,000. Herold Advisors Inc. bought a new stake in Cinemark during the 1st quarter valued at approximately $35,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in Cinemark during the 4th quarter valued at approximately $37,000. Finally, GHP Investment Advisors Inc. bought a new stake in Cinemark during the 1st quarter valued at approximately $89,000. 93.02% of the stock is owned by institutional investors.

About Cinemark

(Get Rating)

Cinemark Holdings, Inc, together with its subsidiaries, engages in the motion picture exhibition business. As of June 30, 2022, it operated 522 theatres with 5,868 screens in the United States, and South and Central America. The company was founded in 1984 and is headquartered in Plano, Texas.

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Analyst Recommendations for Cinemark (NYSE:CNK)

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