B. Riley Boosts Cinemark (NYSE:CNK) Price Target to $16.00

Cinemark (NYSE:CNK) had its price target upped by B. Riley from $14.00 to $16.00 in a report issued on Friday, Benzinga reports. B. Riley currently has a neutral rating on the stock. B. Riley also issued estimates for Cinemark’s Q3 2024 earnings at $0.21 EPS, Q4 2024 earnings at $0.30 EPS and Q4 2025 earnings at $0.50 EPS.

Other research analysts also recently issued research reports about the stock. Wedbush reaffirmed an outperform rating and set a $23.00 price objective on shares of Cinemark in a research note on Thursday, April 25th. Benchmark reaffirmed a buy rating and set a $22.00 price target on shares of Cinemark in a research note on Wednesday, April 10th. Wells Fargo & Company raised shares of Cinemark from an underweight rating to an overweight rating and boosted their price objective for the company from $13.00 to $23.00 in a research note on Friday, April 5th. JPMorgan Chase & Co. increased their target price on Cinemark from $17.00 to $19.00 and gave the stock a neutral rating in a research report on Monday, April 8th. Finally, The Goldman Sachs Group lowered their price target on Cinemark from $16.00 to $12.00 and set a sell rating for the company in a research report on Thursday, January 11th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of Hold and an average price target of $20.33.

Cinemark Stock Performance

Shares of CNK opened at $17.72 on Friday. Cinemark has a 1 year low of $13.19 and a 1 year high of $20.40. The company’s 50 day simple moving average is $17.91 and its 200 day simple moving average is $15.85. The company has a market capitalization of $2.15 billion, a price-to-earnings ratio of 12.22, a PEG ratio of 2.09 and a beta of 2.25. The company has a debt-to-equity ratio of 7.15, a quick ratio of 1.42 and a current ratio of 1.45.

Cinemark (NYSE:CNK) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.40. The company had revenue of $579.00 million for the quarter, compared to analyst estimates of $561.91 million. Cinemark had a return on equity of 69.48% and a net margin of 7.12%. The business’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.03) EPS. On average, sell-side analysts predict that Cinemark will post 0.86 EPS for the current year.

Insider Activity at Cinemark

In other Cinemark news, insider Wanda Marie Gierhart sold 19,593 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $16.75, for a total value 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 filing with the Securities & Exchange Commission, which is available at the SEC website. 2.30% of the stock is owned by insiders.

Institutional Trading of Cinemark

Several large investors have recently bought and sold shares of CNK. Commonwealth Equity Services LLC grew its holdings in Cinemark by 4.5% during the 3rd quarter. Commonwealth Equity Services LLC now owns 320,879 shares of the company’s stock valued at $5,888,000 after purchasing an additional 13,720 shares in the last quarter. First National Bank of Hutchinson increased its position in shares of Cinemark by 1.4% during the third quarter. First National Bank of Hutchinson now owns 69,853 shares of the company’s stock worth $1,282,000 after acquiring an additional 989 shares during the last quarter. Mitchell Capital Management Co. lifted its stake in shares of Cinemark by 0.4% in the third quarter. Mitchell Capital Management Co. now owns 387,784 shares of the company’s stock worth $7,116,000 after acquiring an additional 1,470 shares in the last quarter. Capula Management Ltd boosted its holdings in Cinemark by 53.4% in the third quarter. Capula Management Ltd now owns 57,040 shares of the company’s stock valued at $1,047,000 after purchasing an additional 19,860 shares during the last quarter. Finally, NBC Securities Inc. acquired a new stake in Cinemark during the 3rd quarter valued at approximately $74,000.

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.