Benchmark Reiterates Buy Rating for Cinemark (NYSE:CNK)

Cinemark (NYSE:CNK)‘s stock had its “buy” rating reiterated by equities researchers at Benchmark in a research note issued to investors on Wednesday, Benzinga reports. They presently have a $22.00 price target on the stock. Benchmark’s target price suggests a potential upside of 17.33% from the company’s current price.

CNK has been the topic of several other research reports. Wells Fargo & Company lowered Cinemark from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $16.00 to $13.00 in a report on Wednesday, December 20th. B. Riley lowered Cinemark from a “buy” rating to a “neutral” rating and dropped their target price for the company from $23.00 to $15.00 in a report on Tuesday, January 2nd. Wedbush reissued an “outperform” rating and issued a $20.00 target price on shares of Cinemark in a report on Tuesday, February 13th. The Goldman Sachs Group dropped their target price on Cinemark from $16.00 to $12.00 and set a “sell” rating on the stock in a report on Thursday, January 11th. Finally, Roth Mkm dropped their target price on Cinemark from $20.00 to $16.00 and set a “neutral” rating on the stock in a report on Tuesday, December 5th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $17.40.

Cinemark Trading Up 0.3 %

Shares of CNK stock opened at $18.75 on Wednesday. The company has a debt-to-equity ratio of 7.73, a quick ratio of 1.42 and a current ratio of 1.45. The stock has a market capitalization of $2.28 billion, a P/E ratio of 15.24, a price-to-earnings-growth ratio of 2.26 and a beta of 2.27. The company has a 50 day moving average price of $16.70 and a 200 day moving average price of $15.85. Cinemark has a fifty-two week low of $13.19 and a fifty-two week high of $19.85.

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

Insider Buying and Selling

In related news, insider Wanda Marie Gierhart sold 19,593 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 179,591 shares of the company’s stock, valued at $3,008,149.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 10.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. VitalStone Financial LLC acquired a new stake in Cinemark during the first quarter worth approximately $27,000. Tower Research Capital LLC TRC boosted its position in Cinemark by 38.8% during the first quarter. Tower Research Capital LLC TRC now owns 2,680 shares of the company’s stock worth $39,000 after acquiring an additional 749 shares during the last quarter. Advisor Group Holdings Inc. boosted its position in Cinemark by 28.3% during the fourth quarter. Advisor Group Holdings Inc. now owns 5,194 shares of the company’s stock worth $45,000 after acquiring an additional 1,147 shares during the last quarter. Coppell Advisory Solutions LLC acquired a new stake in Cinemark during the second quarter worth approximately $48,000. Finally, State of Wyoming acquired a new stake in Cinemark during the second quarter worth approximately $55,000.

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.