Cinemark (NYSE:CNK) Receives "Buy" Rating from Benchmark

Benchmark reiterated their buy rating on shares of Cinemark (NYSE:CNK - Free Report) in a report published on Friday morning,Benzinga reports. Benchmark currently has a $40.00 price target on the stock.

A number of other research firms also recently commented on CNK. Barrington Research raised shares of Cinemark from a "market perform" rating to an "outperform" rating and set a $36.00 price objective for the company in a report on Thursday, October 31st. Roth Mkm upped their price objective on Cinemark from $30.00 to $33.00 and gave the company a "buy" rating in a research note on Thursday, October 10th. Macquarie raised their target price on Cinemark from $32.00 to $34.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. Morgan Stanley upped their price target on Cinemark from $29.00 to $35.00 and gave the company an "overweight" rating in a research report on Friday, October 11th. Finally, Wells Fargo & Company increased their price objective on Cinemark from $35.00 to $38.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 27th. One analyst has rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Cinemark has a consensus rating of "Moderate Buy" and an average price target of $32.80.

Cinemark Stock Performance

Shares of NYSE:CNK traded down $0.22 during midday trading on Friday, hitting $30.21. The company's stock had a trading volume of 1,785,099 shares, compared to its average volume of 1,939,367. The company has a debt-to-equity ratio of 3.46, a quick ratio of 0.96 and a current ratio of 0.98. The stock's 50 day simple moving average is $32.11 and its 200 day simple moving average is $28.06. The stock has a market capitalization of $3.70 billion, a price-to-earnings ratio of 19.49, a PEG ratio of 1.66 and a beta of 2.40. Cinemark has a fifty-two week low of $13.19 and a fifty-two week high of $36.28.

Cinemark (NYSE:CNK - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The company reported $1.19 EPS for the quarter, topping the consensus estimate of $0.58 by $0.61. The company had revenue of $921.80 million for the quarter, compared to the consensus estimate of $894.90 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 5.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.61 EPS. As a group, research analysts anticipate that Cinemark will post 2 earnings per share for the current year.

Insider Buying and Selling

In other Cinemark news, insider Valmir Fernandes sold 25,000 shares of the stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $32.68, for a total value of $817,000.00. Following the sale, the insider now directly owns 179,729 shares in the company, valued at approximately $5,873,543.72. This trade represents a 12.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.30% of the stock is owned by insiders.

Institutional Trading of Cinemark

A number of large investors have recently made changes to their positions in the company. Quarry LP grew its stake in Cinemark by 714.8% in the third quarter. Quarry LP now owns 1,491 shares of the company's stock valued at $42,000 after acquiring an additional 1,308 shares during the period. GAMMA Investing LLC grew its position in shares of Cinemark by 106.1% in the 3rd quarter. GAMMA Investing LLC now owns 2,020 shares of the company's stock valued at $56,000 after purchasing an additional 1,040 shares during the period. Point72 Asia Singapore Pte. Ltd. increased its stake in Cinemark by 38.7% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,145 shares of the company's stock worth $68,000 after purchasing an additional 877 shares in the last quarter. USA Financial Formulas bought a new stake in Cinemark during the 3rd quarter worth approximately $77,000. Finally, CWM LLC raised its holdings in Cinemark by 134.4% during the 3rd quarter. CWM LLC now owns 2,993 shares of the company's stock worth $83,000 after buying an additional 1,716 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.