Cinemark (NYSE:CNK - Get Free Report)'s stock had its "outperform" rating reaffirmed by equities researchers at Barrington Research in a report released on Monday, Benzinga reports. They presently have a $24.00 target price on the stock. Barrington Research's price target suggests a potential upside of 25.23% from the stock's previous close.
Several other equities analysts have also recently weighed in on CNK. Roth Mkm raised their price target on shares of Cinemark from $17.00 to $19.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 10th. Wells Fargo & Company raised shares of Cinemark from an "underweight" rating to an "overweight" rating and raised their price target for the stock from $13.00 to $23.00 in a research note on Friday, April 5th. Benchmark reaffirmed a "buy" rating and set a $23.00 price target on shares of Cinemark in a research note on Friday, May 3rd. B. Riley raised their price target on shares of Cinemark from $14.00 to $16.00 and gave the stock a "neutral" rating in a research note on Friday, May 3rd. Finally, JPMorgan Chase & Co. raised their price target on shares of Cinemark from $17.00 to $19.00 and gave the stock a "neutral" rating in a research note on Monday, April 8th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $20.33.
Check Out Our Latest Research Report on CNK
Cinemark Stock Up 4.6 %
CNK stock traded up $0.84 during mid-day trading on Monday, hitting $19.17. 4,502,786 shares of the company were exchanged, compared to its average volume of 3,011,640. The company has a debt-to-equity ratio of 7.42, a quick ratio of 1.45 and a current ratio of 1.48. The firm has a market cap of $2.34 billion, a P/E ratio of 13.22, a P/E/G ratio of 1.67 and a beta of 2.27. The firm's 50 day simple moving average is $17.66 and its 200 day simple moving average is $16.38. Cinemark has a 1-year low of $13.19 and a 1-year high of $20.40.
Cinemark (NYSE:CNK - Get Free Report) last announced its earnings results on Thursday, May 2nd. The company reported $0.19 EPS for the quarter, topping the consensus estimate of ($0.21) by $0.40. The firm had revenue of $579.00 million for the quarter, compared to the consensus estimate of $561.91 million. Cinemark had a net margin of 7.12% and a return on equity of 69.48%. The business's quarterly revenue was down 5.2% on a year-over-year basis. During the same period last year, the company posted ($0.03) EPS. On average, sell-side analysts predict that Cinemark will post 1.1 EPS for the current fiscal year.
Hedge Funds Weigh In On Cinemark
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Cinemark by 1.6% during the third quarter. Vanguard Group Inc. now owns 13,844,490 shares of the company's stock worth $254,046,000 after purchasing an additional 214,102 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Cinemark by 1.7% during the third quarter. Wellington Management Group LLP now owns 13,550,176 shares of the company's stock worth $248,646,000 after buying an additional 232,619 shares in the last quarter. Third Point LLC acquired a new stake in shares of Cinemark during the first quarter worth $89,850,000. Dimensional Fund Advisors LP lifted its holdings in shares of Cinemark by 9.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,568,871 shares of the company's stock worth $36,195,000 after buying an additional 213,593 shares in the last quarter. Finally, Steadfast Capital Management LP acquired a new stake in shares of Cinemark during the first quarter worth $29,323,000.
Cinemark Company Profile
(Get Free Report)
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.
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