Wedbush Reaffirms Outperform Rating for Cinemark (NYSE:CNK)

Wedbush reissued their outperform rating on shares of Cinemark (NYSE:CNK) in a research report report published on Thursday, Benzinga reports. The firm currently has a $25.00 price target on the stock. Wedbush also issued estimates for Cinemark’s Q3 2024 earnings at $0.53 EPS, Q4 2024 earnings at $0.57 EPS, Q4 2025 earnings at $0.67 EPS and FY2025 earnings at $1.78 EPS.

Other equities research analysts also recently issued research reports about the company. Benchmark restated a buy rating and set a $23.00 target price on shares of Cinemark in a research report on Friday, May 3rd. B. Riley increased their price objective on Cinemark from $14.00 to $16.00 and gave the stock a neutral rating in a report on Friday, May 3rd. Roth Mkm raised Cinemark from a neutral rating to a buy rating and lifted their target price for the company from $19.00 to $26.00 in a report on Monday, June 24th. Roth Capital upgraded shares of Cinemark from a hold rating to a strong-buy rating in a research report on Monday, June 24th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Cinemark from $17.00 to $19.00 and gave the stock a neutral rating in a research report on Monday, April 8th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $21.33.

Cinemark Stock Up 2.3 %

CNK stock opened at $21.62 on Thursday. The stock’s fifty day simple moving average is $18.07 and its two-hundred day simple moving average is $16.73. The company has a current ratio of 1.48, a quick ratio of 1.45 and a debt-to-equity ratio of 7.42. The stock has a market cap of $2.65 billion, a P/E ratio of 14.91, a P/E/G ratio of 1.98 and a beta of 2.27. Cinemark has a 1-year low of $13.19 and a 1-year high of $21.66.

Cinemark (NYSE:CNK) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.19 EPS for the quarter, beating the consensus estimate of ($0.21) by $0.40. Cinemark had a return on equity of 69.48% and a net margin of 7.12%. The business had revenue of $579.00 million for the quarter, compared to the consensus estimate of $561.91 million. During the same quarter in the prior year, the business earned ($0.03) earnings per share. Cinemark’s revenue for the quarter was down 5.2% on a year-over-year basis. Analysts expect that Cinemark will post 1.07 EPS for the current year.

Hedge Funds Weigh In On Cinemark

Several institutional investors and hedge funds have recently bought and sold shares of the stock. NBC Securities Inc. raised its stake in shares of Cinemark by 17.2% during the fourth quarter. NBC Securities Inc. now owns 4,764 shares of the company’s stock valued at $67,000 after acquiring an additional 700 shares during the last quarter. Virtu Financial LLC bought a new position in Cinemark during the 4th quarter valued at approximately $192,000. Mackenzie Financial Corp purchased a new stake in Cinemark in the 4th quarter worth approximately $210,000. Watershed Asset Management L.L.C. grew its position in shares of Cinemark by 6.2% in the 4th quarter. Watershed Asset Management L.L.C. now owns 15,658 shares of the company’s stock worth $221,000 after buying an additional 915 shares during the last quarter. Finally, Algert Global LLC purchased a new position in shares of Cinemark during the third quarter valued at approximately $222,000.

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.