Cinemark Holdings, Inc. (NYSE:CNK) Receives Average Rating of “Moderate Buy” from Brokerages

Cinemark Holdings, Inc. (NYSE:CNK) has earned an average recommendation of “Moderate Buy” from the eleven research firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $30.80.

A number of research analysts have weighed in on the stock. Morgan Stanley lifted their price target on shares of Cinemark from $29.00 to $35.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Barrington Research raised Cinemark from a “market perform” rating to an “outperform” rating and set a $36.00 target price for the company in a research report on Thursday, October 31st. The Goldman Sachs Group raised their target price on Cinemark from $16.00 to $20.00 and gave the company a “sell” rating in a report on Thursday, September 19th. Wedbush downgraded shares of Cinemark from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 1st. Finally, StockNews.com raised shares of Cinemark from a “sell” rating to a “hold” rating in a research report on Sunday, November 10th.

Cinemark Price Performance

NYSE:CNK opened at $31.84 on Friday. Cinemark has a 12-month low of $13.19 and a 12-month high of $33.11. The firm has a market cap of $3.90 billion, a price-to-earnings ratio of 20.54, a price-to-earnings-growth ratio of 1.59 and a beta of 2.35. The company’s 50-day moving average is $28.87 and its two-hundred day moving average is $24.00. The company has a current ratio of 0.98, a quick ratio of 0.96 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 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.61. Cinemark had a return on equity of 60.21% and a net margin of 8.36%. The business had revenue of $921.80 million during the quarter, compared to the consensus estimate of $894.90 million. During the same quarter in the previous year, the business earned $0.61 earnings per share. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. Research analysts expect that Cinemark will post 2 EPS for the current year.

Insider Buying and Selling

In related news, insider Valmir Fernandes sold 25,000 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $32.68, for a total transaction of $817,000.00. Following the completion of the sale, the insider now owns 179,729 shares of the company’s stock, valued at $5,873,543.72. This represents a 12.21 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.30% of the company’s stock.

Institutional Trading of Cinemark

Several hedge funds have recently made changes to their positions in the stock. Third Point LLC acquired a new position in Cinemark during the 1st quarter worth $89,850,000. Dimensional Fund Advisors LP lifted its stake in Cinemark by 5.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,914,708 shares of the company’s stock valued at $63,012,000 after purchasing an additional 148,076 shares during the last quarter. Victory Capital Management Inc. grew its position in Cinemark by 1.4% in the second quarter. Victory Capital Management Inc. now owns 2,550,819 shares of the company’s stock worth $55,149,000 after buying an additional 35,993 shares during the last quarter. Steadfast Capital Management LP bought a new stake in shares of Cinemark during the 1st quarter worth $29,323,000. Finally, Hennessy Advisors Inc. raised its position in shares of Cinemark by 18.1% during the second quarter. Hennessy Advisors Inc. now owns 1,530,200 shares of the company’s stock worth $33,083,000 after purchasing an additional 234,400 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.