Cinemark (NYSE:CNK) Receives Outperform Rating from Barrington Research

Barrington Research reissued their outperform rating on shares of Cinemark (NYSE:CNK) in a research note issued to investors on Friday, MarketBeat reports. Barrington Research currently has a $24.00 target price on the stock.

A number of other brokerages also recently commented on CNK. Roth Capital upgraded Cinemark from a hold rating to a strong-buy rating in a research note on Monday, June 24th. Wedbush restated an outperform rating and issued a $25.00 target price on shares of Cinemark in a research note on Monday, July 29th. B. Riley upgraded Cinemark from a neutral rating to a buy rating and lifted their target price for the company from $16.00 to $27.00 in a research note on Monday, July 8th. Wells Fargo & Company upgraded Cinemark from an underweight rating to an overweight rating and lifted their target price for the company from $13.00 to $23.00 in a research note on Friday, April 5th. Finally, StockNews.com downgraded Cinemark from a hold rating to a sell rating in a research report on Thursday, May 30th. One research analyst has rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $24.60.

Cinemark Price Performance

Shares of Cinemark stock opened at $25.42 on Friday. Cinemark has a twelve month low of $13.19 and a twelve month high of $25.51. The stock has a market capitalization of $3.11 billion, a P/E ratio of 17.53, a PEG ratio of 2.14 and a beta of 2.36. 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 business’s fifty day moving average price is $20.18 and its 200 day moving average price is $18.12.

Cinemark (NYSE:CNK) last announced its earnings results on Friday, August 2nd. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.25. Cinemark had a return on equity of 69.48% and a net margin of 7.12%. The business had revenue of $734.20 million for the quarter, compared to analyst estimates of $691.74 million. During the same period in the previous year, the company earned $0.80 earnings per share. The company’s revenue for the quarter was down 22.1% compared to the same quarter last year. As a group, research analysts anticipate that Cinemark will post 1.08 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Third Point LLC acquired a new position in Cinemark in the 1st quarter valued at about $89,850,000. Dimensional Fund Advisors LP lifted its holdings in shares of Cinemark by 9.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,568,871 shares of the company’s stock worth $36,195,000 after acquiring an additional 213,593 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Cinemark by 1.4% during the 2nd quarter. Victory Capital Management Inc. now owns 2,550,819 shares of the company’s stock worth $55,149,000 after acquiring an additional 35,993 shares during the period. Steadfast Capital Management LP bought a new stake in shares of Cinemark during the 1st quarter worth approximately $29,323,000. Finally, Hennessy Advisors Inc. lifted its holdings in shares of Cinemark by 18.1% during the 2nd quarter. Hennessy Advisors Inc. now owns 1,530,200 shares of the company’s stock worth $33,083,000 after acquiring an additional 234,400 shares during the period.

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.