Cinemark (NYSE:CNK) Upgraded to Buy by B. Riley

B. Riley upgraded shares of Cinemark (NYSE:CNK) from a neutral rating to a buy rating in a research report released on Monday morning, Marketbeat Ratings reports. They currently have $27.00 price target on the stock, up from their prior price target of $16.00. B. Riley also issued estimates for Cinemark’s Q2 2024 earnings at ($0.03) EPS, Q3 2024 earnings at $0.32 EPS, Q4 2024 earnings at $0.26 EPS, FY2024 earnings at $0.75 EPS, Q1 2025 earnings at $0.01 EPS, Q2 2025 earnings at $0.33 EPS, Q3 2025 earnings at $0.57 EPS, Q4 2025 earnings at $0.58 EPS and FY2025 earnings at $1.49 EPS.

Several other research analysts have also recently weighed in on the stock. StockNews.com cut shares of Cinemark from a hold rating to a sell rating in a research report on Thursday, May 30th. JPMorgan Chase & Co. boosted 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. Barrington Research restated an outperform rating and issued a $24.00 price objective on shares of Cinemark in a research report on Monday, June 17th. Wells Fargo & Company upgraded shares of Cinemark from an underweight rating to an overweight rating and boosted their price objective for the stock from $13.00 to $23.00 in a research report on Friday, April 5th. Finally, Wedbush reiterated an outperform rating and set a $25.00 target price on shares of Cinemark in a research report on Thursday, June 27th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Cinemark currently has an average rating of Moderate Buy and a consensus target price of $22.70.

Cinemark Stock Up 0.3 %

NYSE CNK opened at $21.56 on Monday. 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’s 50 day moving average is $18.78 and its two-hundred day moving average is $17.14. The company has a market capitalization of $2.64 billion, a price-to-earnings ratio of 14.87, a PEG ratio of 2.04 and a beta of 2.36. Cinemark has a 1-year low of $13.19 and a 1-year high of $22.19.

Cinemark (NYSE:CNK) 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 business had revenue of $579.00 million for the quarter, compared to the consensus estimate of $561.91 million. Cinemark had a return on equity of 69.48% and a net margin of 7.12%. Cinemark’s revenue was down 5.2% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.03) EPS. Equities analysts forecast that Cinemark will post 1.07 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CNK. Third Point LLC bought a new position in Cinemark in the 1st quarter valued at about $89,850,000. Steadfast Capital Management LP bought a new position in Cinemark in the 1st quarter valued at about $29,323,000. Hennessy Advisors Inc. bought a new position in Cinemark in the 4th quarter valued at about $16,001,000. Jericho Capital Asset Management L.P. bought a new position in Cinemark in the 1st quarter valued at about $15,975,000. Finally, Nut Tree Capital Management LP bought a new position in Cinemark in the 1st quarter valued at about $13,250,000.

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.