Cinemark’s (CNK) “Buy” Rating Reiterated at Benchmark

Benchmark reaffirmed their buy rating on shares of Cinemark (NYSE:CNK) in a research report released on Friday morning,Benzinga reports. Benchmark currently has a $40.00 price target on the stock.

Several other research firms have also weighed in on CNK. Roth Mkm upped their price objective on Cinemark from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Wells Fargo & Company increased their price objective on Cinemark from $35.00 to $38.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 27th. The Goldman Sachs Group boosted their target price on shares of Cinemark from $16.00 to $20.00 and gave the company a “sell” rating in a research note on Thursday, September 19th. StockNews.com upgraded shares of Cinemark from a “sell” rating to a “hold” rating in a research report on Sunday, November 10th. Finally, Barrington Research upgraded shares of Cinemark from a “market perform” rating to an “outperform” rating and set a $36.00 price target on the stock in a research report on Thursday, October 31st. One analyst has rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $32.80.

Cinemark Stock Performance

Shares of NYSE CNK opened at $30.21 on Friday. The firm has a market capitalization of $3.70 billion, a price-to-earnings ratio of 19.49, a PEG ratio of 1.66 and a beta of 2.40. Cinemark has a one year low of $13.19 and a one year high of $36.28. The business has a fifty day simple moving average of $32.12 and a 200 day simple moving average of $28.12. 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 announced its quarterly earnings data on Thursday, October 31st. The company reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.61. The company had revenue of $921.80 million during the quarter, compared to analysts’ expectations of $894.90 million. Cinemark had a net margin of 8.36% and a return on equity of 60.21%. The business’s revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.61 EPS. Sell-side analysts expect that Cinemark will post 2 EPS for the current year.

Insider Activity at Cinemark

In related news, insider Valmir Fernandes sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $32.68, for a total value of $817,000.00. Following the transaction, the insider now owns 179,729 shares in the company, valued at $5,873,543.72. This trade represents a 12.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP raised its stake in shares of Cinemark by 5.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,914,708 shares of the company’s stock worth $63,012,000 after buying an additional 148,076 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Cinemark by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 2,449,567 shares of the company’s stock valued at $68,209,000 after acquiring an additional 25,857 shares during the last quarter. Maverick Capital Ltd. lifted its stake in shares of Cinemark by 1,356.4% in the 3rd quarter. Maverick Capital Ltd. now owns 1,517,771 shares of the company’s stock valued at $42,255,000 after purchasing an additional 1,413,557 shares during the period. Royal London Asset Management Ltd. boosted its position in shares of Cinemark by 2.4% in the 3rd quarter. Royal London Asset Management Ltd. now owns 1,264,614 shares of the company’s stock worth $35,207,000 after purchasing an additional 29,275 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC grew its stake in shares of Cinemark by 18.1% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 676,652 shares of the company’s stock worth $14,629,000 after purchasing an additional 103,875 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.