Cinemark (NYSE:CNK) Price Target Lowered to $35.00 at Benchmark

Cinemark (NYSE:CNK) had its target price lowered by investment analysts at Benchmark from $40.00 to $35.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Benchmark’s price target would indicate a potential upside of 25.94% from the stock’s current price.

Several other analysts have also issued reports on CNK. Wells Fargo & Company lowered their price target on shares of Cinemark from $38.00 to $36.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 29th. StockNews.com raised shares of Cinemark from a “sell” rating to a “hold” rating in a report on Sunday, November 10th. Wedbush reaffirmed a “neutral” rating and issued a $32.00 price target on shares of Cinemark in a report on Tuesday. Macquarie boosted their price objective on Cinemark from $32.00 to $34.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, Barrington Research restated an “outperform” rating and issued a $40.00 target price on shares of Cinemark in a research note on Wednesday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $32.70.

Cinemark Price Performance

Shares of NYSE CNK opened at $27.79 on Thursday. The company has a current ratio of 0.98, a quick ratio of 0.96 and a debt-to-equity ratio of 3.46. The stock has a fifty day simple moving average of $30.44 and a two-hundred day simple moving average of $29.76. Cinemark has a 1-year low of $15.74 and a 1-year high of $36.28. The firm has a market cap of $3.40 billion, a price-to-earnings ratio of 17.82 and a beta of 2.38.

Cinemark (NYSE:CNK) last posted its quarterly 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). Cinemark had a return on equity of 60.21% and a net margin of 8.36%. The firm had revenue of $814.30 million for the quarter, compared to the consensus estimate of $797.18 million. During the same quarter in the previous year, the company posted ($0.15) EPS. The firm’s revenue was up 27.5% compared to the same quarter last year. Analysts anticipate that Cinemark will post 2.08 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of CNK. CWM LLC raised its stake in Cinemark by 134.4% in the third quarter. CWM LLC now owns 2,993 shares of the company’s stock valued at $83,000 after purchasing an additional 1,716 shares in the last quarter. Creative Planning raised its position in shares of Cinemark by 74.8% during the 3rd quarter. Creative Planning now owns 20,907 shares of the company’s stock valued at $582,000 after buying an additional 8,946 shares in the last quarter. International Assets Investment Management LLC bought a new stake in shares of Cinemark during the 3rd quarter worth $9,530,000. Assenagon Asset Management S.A. purchased a new position in Cinemark in the third quarter worth $12,133,000. Finally, Principal Financial Group Inc. increased its stake in Cinemark by 18.8% in the third quarter. Principal Financial Group Inc. now owns 629,782 shares of the company’s stock valued at $17,533,000 after acquiring an additional 99,843 shares during the last quarter.

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.