Cinemark (NYSE:CNK) PT Raised to $23.00 at Wedbush

Cinemark (NYSE:CNK) had its price objective upped by Wedbush from $20.00 to $23.00 in a research report sent to investors on Thursday morning, Benzinga reports. Wedbush currently has an outperform rating on the stock. Wedbush also issued estimates for Cinemark’s Q2 2024 earnings at $0.44 EPS, Q4 2024 earnings at $0.47 EPS, FY2024 earnings at $1.27 EPS and Q2 2025 earnings at $0.62 EPS.

CNK has been the subject of several other reports. The Goldman Sachs Group decreased their price objective on Cinemark from $16.00 to $12.00 and set a sell rating for the company in a report on Thursday, January 11th. Benchmark reaffirmed a buy rating and issued a $22.00 price target on shares of Cinemark in a research report on Wednesday, April 10th. Wells Fargo & Company raised shares of Cinemark from an underweight rating to an overweight rating and lifted their price objective for the company from $13.00 to $23.00 in a report on Friday, April 5th. B. Riley lowered Cinemark from a buy rating to a neutral rating and lowered their target price for the stock from $23.00 to $15.00 in a report on Tuesday, January 2nd. Finally, Roth Mkm lifted their price target 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. According to MarketBeat, Cinemark currently has a consensus rating of Hold and a consensus price target of $19.89.

Cinemark Trading Up 0.6 %

NYSE CNK opened at $18.22 on Thursday. Cinemark has a 12 month low of $13.19 and a 12 month high of $20.40. The company’s 50-day moving average price is $17.61 and its 200-day moving average price is $15.87. The stock has a market cap of $2.22 billion, a PE ratio of 14.81, a PEG ratio of 2.15 and a beta of 2.27. The company has a current ratio of 1.45, a quick ratio of 1.42 and a debt-to-equity ratio of 7.73.

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

Insider Buying and Selling

In other Cinemark news, insider Wanda Marie Gierhart sold 19,593 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $16.75, for a total transaction of $328,182.75. Following the transaction, the insider now owns 179,591 shares in the company, valued at approximately $3,008,149.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Assenagon Asset Management S.A. raised its stake in shares of Cinemark by 30.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 288,058 shares of the company’s stock valued at $4,059,000 after buying an additional 67,851 shares during the last quarter. Schonfeld Strategic Advisors LLC raised its position in Cinemark by 276.6% during the third quarter. Schonfeld Strategic Advisors LLC now owns 189,074 shares of the company’s stock valued at $3,470,000 after acquiring an additional 138,874 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Cinemark by 1.6% in the third quarter. Vanguard Group Inc. now owns 13,844,490 shares of the company’s stock valued at $254,046,000 after acquiring an additional 214,102 shares during the period. Rhumbline Advisers boosted its position in Cinemark by 0.5% in the 3rd quarter. Rhumbline Advisers now owns 338,643 shares of the company’s stock worth $6,214,000 after purchasing an additional 1,574 shares in the last quarter. Finally, Trexquant Investment LP grew its stake in shares of Cinemark by 76.1% during the 3rd quarter. Trexquant Investment LP now owns 432,971 shares of the company’s stock worth $7,945,000 after purchasing an additional 187,113 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.