Wedbush reiterated their outperform rating on shares of Cinemark (NYSE:CNK – Free Report) in a research note published on Monday, Benzinga reports. The brokerage currently has a $25.00 price target on the stock. Wedbush also issued estimates for Cinemark’s Q2 2024 earnings at $0.10 EPS and FY2024 earnings at $1.37 EPS.
Other analysts also recently issued reports about the stock. Barrington Research reissued an outperform rating and set a $24.00 price objective on shares of Cinemark in a research report on Monday, June 17th. Roth Capital raised shares of Cinemark from a hold rating to a strong-buy rating in a report on Monday, June 24th. Benchmark reaffirmed a buy rating and set a $23.00 price target on shares of Cinemark in a report on Monday, July 1st. Wells Fargo & Company raised shares of Cinemark from an underweight rating to an overweight rating and raised their price target for the company from $13.00 to $23.00 in a report on Friday, April 5th. Finally, B. Riley raised shares of Cinemark from a neutral rating to a buy rating and raised their price target for the company from $16.00 to $27.00 in a report on Monday, July 8th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $22.90.
Check Out Our Latest Stock Report on CNK
Cinemark Stock Performance
Cinemark (NYSE:CNK – Get Free Report) last announced 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 net margin of 7.12% and a return on equity of 69.48%. The company had revenue of $579.00 million for the quarter, compared to the consensus estimate of $561.91 million. During the same period in the prior year, the firm posted ($0.03) EPS. Cinemark’s revenue for the quarter was down 5.2% on a year-over-year basis. Sell-side analysts expect that Cinemark will post 1.08 EPS for the current fiscal year.
Hedge Funds Weigh In On Cinemark
Institutional investors have recently made changes to their positions in the business. CANADA LIFE ASSURANCE Co raised its stake in Cinemark by 0.5% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 122,908 shares of the company’s stock worth $2,209,000 after acquiring an additional 612 shares during the period. NBC Securities Inc. raised its stake in Cinemark by 17.2% during the 4th quarter. NBC Securities Inc. now owns 4,764 shares of the company’s stock worth $67,000 after acquiring an additional 700 shares during the period. Watershed Asset Management L.L.C. raised its stake in Cinemark by 6.2% during the 4th quarter. Watershed Asset Management L.L.C. now owns 15,658 shares of the company’s stock worth $221,000 after acquiring an additional 915 shares during the period. QRG Capital Management Inc. raised its stake in Cinemark by 5.9% during the 2nd quarter. QRG Capital Management Inc. now owns 20,557 shares of the company’s stock worth $444,000 after acquiring an additional 1,148 shares during the period. Finally, Louisiana State Employees Retirement System raised its stake in Cinemark by 2.3% during the 2nd quarter. Louisiana State Employees Retirement System now owns 53,700 shares of the company’s stock worth $1,161,000 after acquiring an additional 1,200 shares during the period.
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.
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