Cinemark (NYSE:CNK) Receives Outperform Rating from Macquarie

Cinemark (NYSE:CNK)‘s stock had its “outperform” rating reiterated by analysts at Macquarie in a research report issued on Thursday,Benzinga reports. They presently have a $35.00 price objective on the stock. Macquarie’s price objective points to a potential upside of 26.27% from the company’s current price.

Several other analysts have also recently weighed in on CNK. Wells Fargo & Company dropped their price target on shares of Cinemark from $38.00 to $36.00 and set an “overweight” rating for the company in a research note on Wednesday, January 29th. Benchmark decreased their price objective on shares of Cinemark from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Thursday. Barrington Research reissued an “outperform” rating and issued a $40.00 target price on shares of Cinemark in a research report on Wednesday. Wedbush restated a “neutral” rating and set a $32.00 price target on shares of Cinemark in a research report on Tuesday. Finally, Morgan Stanley cut their price objective on Cinemark from $40.00 to $35.00 and set an “overweight” rating on the stock in a report on Thursday. One investment analyst has rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $32.70.

Cinemark Price Performance

NYSE CNK traded down $0.85 during mid-day trading on Thursday, hitting $27.72. The stock had a trading volume of 8,513,643 shares, compared to its average volume of 2,817,777. Cinemark has a twelve month low of $15.74 and a twelve month high of $36.28. The company has a debt-to-equity ratio of 3.46, a current ratio of 0.98 and a quick ratio of 0.96. The firm’s 50 day moving average is $30.44 and its 200 day moving average is $29.76. The stock has a market capitalization of $3.39 billion, a price-to-earnings ratio of 17.88 and a beta of 2.38.

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

Institutional Trading of Cinemark

Several institutional investors and hedge funds have recently made changes to their positions in CNK. Elequin Capital LP increased its holdings in shares of Cinemark by 211.6% in the 4th quarter. Elequin Capital LP now owns 997 shares of the company’s stock valued at $31,000 after acquiring an additional 677 shares during the period. PharVision Advisers LLC acquired a new position in Cinemark in the 4th quarter valued at about $277,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Cinemark by 24.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 319,768 shares of the company’s stock worth $9,906,000 after purchasing an additional 61,911 shares during the period. Voloridge Investment Management LLC purchased a new position in Cinemark in the 4th quarter valued at about $8,317,000. Finally, Two Sigma Advisers LP acquired a new stake in shares of Cinemark during the 4th quarter worth about $441,000.

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.