Cinemark’s (CNK) Outperform Rating Reaffirmed at Barrington Research

Cinemark (NYSE:CNK)‘s stock had its “outperform” rating reiterated by analysts at Barrington Research in a research note issued on Wednesday,Benzinga reports. They currently have a $40.00 price target on the stock. Barrington Research’s price objective would indicate a potential upside of 37.88% from the company’s previous close.

Several other equities analysts have also weighed in on the company. 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 research note on Wednesday, January 29th. Wedbush restated a “neutral” rating and issued a $32.00 price target on shares of Cinemark in a research note on Tuesday. Macquarie boosted their price objective on Cinemark from $32.00 to $34.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Benchmark reiterated a “buy” rating and set a $40.00 price objective on shares of Cinemark in a research note on Friday, January 10th. Finally, StockNews.com upgraded Cinemark from a “sell” rating to a “hold” rating in a research note on Sunday, November 10th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Cinemark currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.20.

Cinemark Stock Performance

Shares of CNK stock traded down $4.05 on Wednesday, hitting $29.01. The company had a trading volume of 10,401,696 shares, compared to its average volume of 2,500,016. The company has a quick ratio of 0.96, a current ratio of 0.98 and a debt-to-equity ratio of 3.46. Cinemark has a twelve month low of $15.74 and a twelve month high of $36.28. The company has a 50-day moving average price of $30.54 and a 200-day moving average price of $29.72. The firm has a market cap of $3.55 billion, a P/E ratio of 18.72 and a beta of 2.38.

Cinemark (NYSE:CNK) last announced its quarterly earnings results 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 net margin of 8.36% and a return on equity of 60.21%. As a group, equities research analysts predict that Cinemark will post 2.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cinemark

A number of large investors have recently made changes to their positions in CNK. CWM LLC grew its position in shares of Cinemark by 134.4% in the third quarter. CWM LLC now owns 2,993 shares of the company’s stock valued at $83,000 after purchasing an additional 1,716 shares in the last quarter. Creative Planning lifted its holdings in Cinemark by 74.8% in the third quarter. Creative Planning now owns 20,907 shares of the company’s stock valued at $582,000 after acquiring an additional 8,946 shares during the last quarter. International Assets Investment Management LLC acquired a new position in Cinemark in the third quarter valued at approximately $9,530,000. Assenagon Asset Management S.A. acquired a new position in Cinemark in the third quarter valued at approximately $12,133,000. Finally, Principal Financial Group Inc. lifted its holdings in Cinemark by 18.8% in the third quarter. Principal Financial Group Inc. now owns 629,782 shares of the company’s stock valued at $17,533,000 after acquiring an additional 99,843 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.