Cinemark (NYSE:CNK) Receives “Outperform” Rating from Barrington Research

Barrington Research reiterated their outperform rating on shares of Cinemark (NYSE:CNK) in a research report report published on Wednesday,Benzinga reports. The brokerage currently has a $40.00 price objective on the stock.

Other equities research analysts also recently issued reports about the company. StockNews.com raised Cinemark from a “sell” rating to a “hold” rating in a research note on Sunday, November 10th. Wedbush reissued a “neutral” rating and issued a $32.00 price objective on shares of Cinemark in a research note on Tuesday. Wells Fargo & Company reduced their price objective on Cinemark from $38.00 to $36.00 and set an “overweight” rating for the company in a research note on Wednesday, January 29th. JPMorgan Chase & Co. increased their price objective on Cinemark from $29.00 to $31.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. Finally, Macquarie raised their price target on Cinemark from $32.00 to $34.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. One research 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.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.20.

Cinemark Trading Down 13.7 %

Shares of NYSE CNK opened at $28.53 on Wednesday. Cinemark has a 12 month low of $15.74 and a 12 month high of $36.28. The company has a market cap of $3.49 billion, a price-to-earnings ratio of 18.41 and a beta of 2.38. The company has a quick ratio of 0.96, a current ratio of 0.98 and a debt-to-equity ratio of 3.46. The business has a fifty day simple moving average of $30.44 and a 200-day simple moving average of $29.76.

Cinemark (NYSE:CNK) last announced its earnings results on Wednesday, February 19th. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.06). Cinemark had a net margin of 8.36% and a return on equity of 60.21%. The company had revenue of $814.30 million for the quarter, compared to analysts’ expectations of $797.18 million. During the same period in the prior year, the company earned ($0.15) earnings per share. The company’s revenue for the quarter was up 27.5% on a year-over-year basis. Sell-side analysts predict that Cinemark will post 2.08 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Aigen Investment Management LP grew its position in shares of Cinemark by 198.9% in the third quarter. Aigen Investment Management LP now owns 49,400 shares of the company’s stock valued at $1,375,000 after purchasing an additional 32,870 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Cinemark by 88.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 62,239 shares of the company’s stock worth $1,733,000 after purchasing an additional 29,295 shares during the period. State of New Jersey Common Pension Fund D bought a new position in shares of Cinemark in the third quarter worth about $1,960,000. Entropy Technologies LP bought a new position in shares of Cinemark in the third quarter worth about $893,000. Finally, KBC Group NV increased its stake in shares of Cinemark by 470.1% in the fourth quarter. KBC Group NV now owns 16,920 shares of the company’s stock worth $524,000 after purchasing an additional 13,952 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.