B. Riley Financial Lowers Cinemark (NYSE:CNK) Price Target to $35.00

Cinemark (NYSE:CNK) had its price target dropped by analysts at B. Riley Financial from $36.00 to $35.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. B. Riley Financial’s price target indicates a potential upside of 15.27% from the stock’s current price.

A number of other brokerages have also recently weighed in on CNK. Weiss Ratings reissued a “hold (c)” rating on shares of Cinemark in a research note on Wednesday, June 24th. The Goldman Sachs Group raised Cinemark from a “sell” rating to a “neutral” rating and upped their target price for the company from $23.00 to $30.00 in a research note on Wednesday, July 8th. Benchmark raised their price target on Cinemark from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, June 17th. Barrington Research reissued an “outperform” rating and issued a $36.00 price target on shares of Cinemark in a report on Monday, May 4th. Finally, Morgan Stanley boosted their price target on Cinemark from $30.00 to $36.00 and gave the stock an “equal weight” rating in a report on Tuesday, June 9th. Seven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, Cinemark presently has an average rating of “Moderate Buy” and an average target price of $34.58.

Cinemark Price Performance

NYSE CNK traded up $0.51 during trading hours on Friday, reaching $30.36. The company’s stock had a trading volume of 965,191 shares, compared to its average volume of 2,360,847. The company has a debt-to-equity ratio of 5.03, a quick ratio of 0.58 and a current ratio of 0.62. The company’s 50-day moving average is $30.05 and its two-hundred day moving average is $27.74. Cinemark has a fifty-two week low of $21.60 and a fifty-two week high of $34.73. The stock has a market cap of $3.55 billion, a PE ratio of 26.84 and a beta of 0.98.

Cinemark (NYSE:CNK) last announced its earnings results on Friday, May 1st. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). Cinemark had a return on equity of 41.31% and a net margin of 5.31%.The business had revenue of $643.10 million for the quarter, compared to analyst estimates of $632.74 million. During the same quarter in the previous year, the firm posted ($0.32) EPS. The business’s revenue was up 18.9% on a year-over-year basis. Analysts forecast that Cinemark will post 2.18 EPS for the current year.

Institutional Trading of Cinemark

Hedge funds have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC grew its holdings in Cinemark by 118.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 935 shares of the company’s stock valued at $28,000 after buying an additional 507 shares during the period. Leonteq Securities AG purchased a new position in shares of Cinemark during the 4th quarter worth about $83,000. GAMMA Investing LLC boosted its position in shares of Cinemark by 51.8% in the fourth quarter. GAMMA Investing LLC now owns 4,022 shares of the company’s stock worth $93,000 after acquiring an additional 1,372 shares during the last quarter. Kestra Advisory Services LLC acquired a new stake in shares of Cinemark in the fourth quarter worth approximately $102,000. Finally, Bayforest Capital Ltd purchased a new stake in Cinemark in the fourth quarter valued at approximately $121,000.

Cinemark Company Profile

Cinemark Holdings, Inc (NYSE: CNK) is a leading theatrical exhibitor that acquires, develops and operates motion picture theatres under the Cinemark® brand in the United States and Latin America. The company’s core business involves the presentation of first-run feature films coupled with an array of in‐theatre services, including concessions, premium auditoriums and loyalty programs. Cinemark’s exhibition portfolio encompasses both corporate‐owned and franchised complexes, offering moviegoers a range of experiences from standard screens to large‐format halls.

The company’s product offerings extend beyond ticket sales to include an assortment of concession items, such as popcorn, fountain beverages, candy and specialty snacks, as well as bar and lounge concepts in select locations.