Cinemark (NYSE:CNK) Rating Reiterated by Wedbush

Cinemark (NYSE:CNK)‘s stock had its “outperform” rating reissued by equities researchers at Wedbush in a research note issued on Thursday, Benzinga reports. They presently have a $23.00 target price on the stock. Wedbush’s price target would suggest a potential upside of 30.31% from the stock’s previous close. 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 analysts have also issued reports on the stock. Roth Mkm lifted their price target on shares of Cinemark from $17.00 to $19.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 10th. The Goldman Sachs Group decreased their price target on Cinemark from $16.00 to $12.00 and set a “sell” rating for the company in a research note on Thursday, January 11th. Wells Fargo & Company raised Cinemark from an “underweight” rating to an “overweight” rating and increased their target price for the stock from $13.00 to $23.00 in a report on Friday, April 5th. Benchmark reiterated a “buy” rating and set a $22.00 price objective on shares of Cinemark in a research note on Wednesday, April 10th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $24.00 price objective on shares of Cinemark in a report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $20.11.

Cinemark Stock Performance

Cinemark stock opened at $17.65 on Thursday. The firm’s fifty day moving average price is $17.79 and its 200 day moving average price is $15.86. The company has a debt-to-equity ratio of 7.73, a current ratio of 1.45 and a quick ratio of 1.42. The company has a market capitalization of $2.15 billion, a price-to-earnings ratio of 14.35, a price-to-earnings-growth ratio of 2.09 and a beta of 2.27. Cinemark has a 12-month low of $13.19 and a 12-month high of $20.40.

Cinemark (NYSE:CNK) last released its quarterly earnings results on Friday, February 16th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.08). Cinemark had a return on equity of 72.91% and a net margin of 6.14%. The business had revenue of $638.90 million during the quarter, compared to analyst estimates of $619.67 million. During the same quarter last year, the firm posted ($0.82) EPS. The company’s revenue was up 6.5% compared to the same quarter last year. On average, research analysts forecast that Cinemark will post 0.85 EPS for the current fiscal 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 stock was sold at an average price of $16.75, for a total transaction of $328,182.75. Following 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. grew its holdings in shares of Cinemark by 30.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 288,058 shares of the company’s stock valued at $4,059,000 after acquiring an additional 67,851 shares in the last quarter. Federated Hermes Inc. increased its position in Cinemark by 17.0% in the 4th quarter. Federated Hermes Inc. now owns 696,859 shares of the company’s stock worth $9,819,000 after purchasing an additional 101,272 shares during the last quarter. Schonfeld Strategic Advisors LLC raised its stake in shares of Cinemark by 276.6% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 189,074 shares of the company’s stock worth $3,470,000 after purchasing an additional 138,874 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Cinemark by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 13,844,490 shares of the company’s stock valued at $254,046,000 after buying an additional 214,102 shares during the last quarter. Finally, Rhumbline Advisers grew its stake in shares of Cinemark by 0.5% in the 3rd quarter. Rhumbline Advisers now owns 338,643 shares of the company’s stock valued at $6,214,000 after buying an additional 1,574 shares in 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.