Benchmark Reaffirms “Buy” Rating for Cinemark (NYSE:CNK)

Cinemark (NYSE:CNK)‘s stock had its “buy” rating reaffirmed by research analysts at Benchmark in a research note issued on Friday,Benzinga reports. They currently have a $40.00 target price on the stock. Benchmark’s price target would indicate a potential upside of 33.42% from the company’s current price.

A number of other research firms have also weighed in on CNK. Barrington Research upgraded shares of Cinemark from a “market perform” rating to an “outperform” rating and set a $36.00 target price on the stock in a research note on Thursday, October 31st. The Goldman Sachs Group increased 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. Morgan Stanley lifted their price target on Cinemark from $29.00 to $35.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Macquarie increased their price objective on Cinemark from $32.00 to $34.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, Roth Mkm boosted their price target on shares of Cinemark from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. One analyst has rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $32.80.

Cinemark Trading Down 1.5 %

NYSE CNK traded down $0.45 during trading hours on Friday, reaching $29.98. The company had a trading volume of 334,175 shares, compared to its average volume of 1,719,571. Cinemark has a 1-year low of $13.19 and a 1-year high of $36.28. The stock has a market capitalization of $3.67 billion, a P/E ratio of 19.34, a price-to-earnings-growth ratio of 1.66 and a beta of 2.40. The stock has a 50-day moving average of $32.11 and a 200 day moving average of $28.06. 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 posted its quarterly earnings data on Thursday, October 31st. The company reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.61. Cinemark had a net margin of 8.36% and a return on equity of 60.21%. The firm had revenue of $921.80 million during the quarter, compared to analysts’ expectations of $894.90 million. During the same quarter last year, the company posted $0.61 EPS. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. As a group, research analysts anticipate that Cinemark will post 2 earnings per share for the current fiscal year.

Insider Activity

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

Institutional Trading of Cinemark

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Arizona State Retirement System increased its stake in Cinemark by 1.8% in the second quarter. Arizona State Retirement System now owns 30,636 shares of the company’s stock valued at $662,000 after purchasing an additional 556 shares during the last quarter. Natixis Advisors LLC raised its position in Cinemark by 2.9% in the third quarter. Natixis Advisors LLC now owns 20,638 shares of the company’s stock valued at $575,000 after purchasing an additional 583 shares during the period. Point72 Asia Singapore Pte. Ltd. lifted its position in Cinemark by 38.7% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,145 shares of the company’s stock worth $68,000 after acquiring an additional 877 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Cinemark by 44.9% in the fourth quarter. GAMMA Investing LLC now owns 2,926 shares of the company’s stock valued at $91,000 after purchasing an additional 906 shares during the period. Finally, Quarry LP increased its stake in shares of Cinemark by 714.8% in the third quarter. Quarry LP now owns 1,491 shares of the company’s stock worth $42,000 after buying an additional 1,308 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.