Cinemark (NYSE:CNK) Receives Buy Rating from Benchmark

Benchmark reiterated their buy rating on shares of Cinemark (NYSE:CNK) in a report issued on Friday,Benzinga reports. The firm currently has a $40.00 price objective on the stock.

Other equities research analysts also recently issued research reports about the stock. Macquarie increased their target price on shares of Cinemark from $32.00 to $34.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Wells Fargo & Company increased their price objective on Cinemark from $35.00 to $38.00 and gave the stock an “overweight” rating in a report on Wednesday, November 27th. StockNews.com upgraded Cinemark from a “sell” rating to a “hold” rating in a research note on Sunday, November 10th. The Goldman Sachs Group raised their price target on Cinemark from $16.00 to $20.00 and gave the stock a “sell” rating in a research note on Thursday, September 19th. Finally, Roth Mkm lifted their price target on Cinemark from $30.00 to $33.00 and gave the company a “buy” rating in a report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Cinemark presently has an average rating of “Moderate Buy” and an average price target of $32.80.

Cinemark Price Performance

Shares of NYSE:CNK opened at $30.21 on Friday. The company’s fifty day moving average is $32.12 and its two-hundred day moving average is $28.12. The company has a market cap of $3.70 billion, a P/E ratio of 19.49, a price-to-earnings-growth ratio of 1.66 and a beta of 2.40. Cinemark has a 12-month low of $13.19 and a 12-month high of $36.28. 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 (NYSE:CNK) last announced its quarterly earnings data on Thursday, October 31st. The company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.61. Cinemark had a return on equity of 60.21% and a net margin of 8.36%. The firm had revenue of $921.80 million during the quarter, compared to the consensus estimate of $894.90 million. During the same period in the prior year, the business earned $0.61 EPS. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. Equities analysts expect that Cinemark will post 2 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Valmir Fernandes sold 25,000 shares of the firm’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $32.68, for a total value of $817,000.00. Following the transaction, the insider now directly owns 179,729 shares in the company, valued at approximately $5,873,543.72. This trade represents a 12.21 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On Cinemark

A number of hedge funds have recently bought and sold shares of CNK. GAMMA Investing LLC lifted its position in shares of Cinemark by 44.9% during the 4th quarter. GAMMA Investing LLC now owns 2,926 shares of the company’s stock worth $91,000 after purchasing an additional 906 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Cinemark by 18.8% during the third quarter. Principal Financial Group Inc. now owns 629,782 shares of the company’s stock worth $17,533,000 after buying an additional 99,843 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of Cinemark by 6.8% in the third quarter. Franklin Resources Inc. now owns 56,757 shares of the company’s stock valued at $1,651,000 after acquiring an additional 3,632 shares during the period. Castellan Group acquired a new stake in shares of Cinemark in the third quarter worth $6,130,000. Finally, Geode Capital Management LLC increased its position in Cinemark by 1.1% during the third quarter. Geode Capital Management LLC now owns 2,449,567 shares of the company’s stock worth $68,209,000 after acquiring an additional 25,857 shares during the period.

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.