Barrington Research Reaffirms Outperform Rating for Cinemark (NYSE:CNK)

Cinemark (NYSE:CNK)‘s stock had its “outperform” rating restated by Barrington Research in a research note issued on Tuesday,Benzinga reports. They currently have a $36.00 price objective on the stock. Barrington Research’s price objective would indicate a potential upside of 26.08% from the stock’s current price.

A number of other brokerages have also recently issued reports on CNK. Wall Street Zen raised shares of Cinemark from a “sell” rating to a “hold” rating in a report on Sunday, August 10th. Deutsche Bank Aktiengesellschaft began coverage on shares of Cinemark in a report on Thursday, July 10th. They set a “buy” rating and a $36.00 price objective for the company. Wedbush upgraded shares of Cinemark from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $32.00 to $37.00 in a research note on Friday, July 11th. Roth Capital dropped their price target on shares of Cinemark from $36.00 to $34.00 and set a “buy” rating on the stock in a research note on Monday, August 4th. Finally, Benchmark reissued a “buy” rating and issued a $35.00 price target on shares of Cinemark in a report on Wednesday, July 2nd. Ten investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, Cinemark presently has a consensus rating of “Moderate Buy” and an average target price of $34.91.

Cinemark Price Performance

Shares of CNK traded up $0.55 during trading hours on Tuesday, hitting $28.55. 531,546 shares of the company were exchanged, compared to its average volume of 3,927,950. The firm has a fifty day simple moving average of $27.08 and a 200-day simple moving average of $28.50. The company has a market capitalization of $3.28 billion, a PE ratio of 15.59, a PEG ratio of 1.97 and a beta of 1.85. Cinemark has a one year low of $23.12 and a one year high of $36.28. The company has a debt-to-equity ratio of 4.32, a current ratio of 0.91 and a quick ratio of 0.88.

Cinemark (NYSE:CNK) last posted its earnings results on Friday, August 1st. The company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.15). The company had revenue of $940.50 million for the quarter, compared to the consensus estimate of $942.14 million. Cinemark had a net margin of 9.13% and a return on equity of 59.16%. Cinemark’s quarterly revenue was up 28.1% on a year-over-year basis. During the same quarter last year, the business earned $0.32 earnings per share. As a group, sell-side analysts predict that Cinemark will post 1.93 earnings per share for the current year.

Insider Transactions at Cinemark

In other news, EVP Melissa Thomas sold 7,200 shares of the stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $25.17, for a total value of $181,224.00. Following the completion of the sale, the executive vice president directly owned 203,768 shares of the company’s stock, valued at approximately $5,128,840.56. This represents a 3.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CNK. Osaic Holdings Inc. boosted its stake in shares of Cinemark by 769.6% during the second quarter. Osaic Holdings Inc. now owns 14,922 shares of the company’s stock valued at $427,000 after acquiring an additional 13,206 shares during the last quarter. Advisory Services Network LLC boosted its stake in Cinemark by 526.4% in the 2nd quarter. Advisory Services Network LLC now owns 82,224 shares of the company’s stock worth $2,482,000 after buying an additional 69,098 shares during the last quarter. Hudson Bay Capital Management LP acquired a new stake in Cinemark in the 2nd quarter worth about $3,427,000. Castleark Management LLC acquired a new stake in Cinemark in the 2nd quarter worth about $4,455,000. Finally, Public Sector Pension Investment Board boosted its stake in Cinemark by 1.6% in the 2nd quarter. Public Sector Pension Investment Board now owns 344,119 shares of the company’s stock worth $10,386,000 after buying an additional 5,496 shares during the last quarter.

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.