Cinemark’s (CNK) Outperform Rating Reaffirmed at Wedbush

Wedbush reissued their outperform rating on shares of Cinemark (NYSE:CNK) in a research note published on Thursday morning, Benzinga reports. They currently have a $23.00 target price on the stock. 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.

Several other equities analysts have also commented on the company. The Goldman Sachs Group reduced their price objective on Cinemark from $16.00 to $12.00 and set a sell rating on the stock in a research report on Thursday, January 11th. Wells Fargo & Company upgraded Cinemark from an underweight rating to an overweight rating and increased their target price for the company from $13.00 to $23.00 in a report on Friday, April 5th. B. Riley cut 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. Barrington Research restated an outperform rating and set a $24.00 target price on shares of Cinemark in a report on Monday. Finally, Roth Mkm increased their target price on Cinemark from $17.00 to $19.00 and gave the company a neutral rating in a report on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $20.11.

Cinemark Stock Performance

CNK stock traded up $0.08 during midday trading on Thursday, hitting $17.56. The company’s stock had a trading volume of 486,828 shares, compared to its average volume of 3,052,682. The stock’s 50-day moving average price is $17.77 and its 200 day moving average price is $15.87. The company has a quick ratio of 1.42, a current ratio of 1.45 and a debt-to-equity ratio of 7.73. Cinemark has a 1 year low of $13.19 and a 1 year high of $20.40. The stock has a market cap of $2.14 billion, a price-to-earnings ratio of 14.21, a PEG ratio of 2.09 and a beta of 2.27.

Cinemark (NYSE:CNK) last issued its quarterly earnings results on Friday, February 16th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.08). Cinemark had a net margin of 6.14% and a return on equity of 72.91%. The firm had revenue of $638.90 million for the quarter, compared to analysts’ expectations of $619.67 million. During the same period in the prior year, the company earned ($0.82) EPS. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. On average, equities analysts forecast that Cinemark will post 0.85 EPS for the current year.

Insiders Place Their Bets

In other Cinemark news, insider Wanda Marie Gierhart sold 19,593 shares of the business’s stock in a transaction that occurred 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 sale, the insider now directly owns 179,591 shares of the company’s stock, valued at $3,008,149.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. NBC Securities Inc. boosted its holdings in shares of Cinemark by 17.2% in the fourth quarter. NBC Securities Inc. now owns 4,764 shares of the company’s stock valued at $67,000 after purchasing an additional 700 shares during the period. Watershed Asset Management L.L.C. boosted its holdings in shares of Cinemark by 6.2% in the fourth quarter. Watershed Asset Management L.L.C. now owns 15,658 shares of the company’s stock valued at $221,000 after purchasing an additional 915 shares during the period. Los Angeles Capital Management LLC boosted its holdings in shares of Cinemark by 1.7% in the third quarter. Los Angeles Capital Management LLC now owns 58,368 shares of the company’s stock valued at $1,071,000 after purchasing an additional 967 shares during the period. First National Bank of Hutchinson boosted its holdings in shares of Cinemark by 1.4% in the third quarter. First National Bank of Hutchinson now owns 69,853 shares of the company’s stock valued at $1,282,000 after purchasing an additional 989 shares during the period. Finally, Natixis Advisors L.P. boosted its holdings in shares of Cinemark by 5.9% in the third quarter. Natixis Advisors L.P. now owns 22,210 shares of the company’s stock valued at $408,000 after purchasing an additional 1,241 shares during the period.

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.