Cinemark's (CNK) Outperform Rating Reaffirmed at Macquarie

Cinemark (NYSE:CNK - Get Free Report)'s stock had its "outperform" rating restated by equities researchers at Macquarie in a report released on Thursday,Benzinga reports. They presently have a $35.00 price target on the stock. Macquarie's price target indicates a potential upside of 26.27% from the company's previous close.

Other equities research analysts also recently issued research reports about the company. Barrington Research reissued an "outperform" rating and issued a $40.00 price target on shares of Cinemark in a report on Wednesday. Morgan Stanley lowered their target price on shares of Cinemark from $40.00 to $35.00 and set an "overweight" rating for the company in a research note on Thursday. StockNews.com upgraded shares of Cinemark from a "sell" rating to a "hold" rating in a research note on Sunday, November 10th. Benchmark dropped their price target on Cinemark from $40.00 to $35.00 and set a "buy" rating on the stock in a research note on Thursday. Finally, Wells Fargo & Company reduced their price objective on Cinemark from $38.00 to $36.00 and set an "overweight" rating for the company in a research note on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Cinemark presently has an average rating of "Moderate Buy" and an average price target of $32.70.

Cinemark Stock Down 3.0 %

Shares of NYSE CNK traded down $0.85 during trading hours on Thursday, hitting $27.72. 8,513,643 shares of the stock were exchanged, compared to its average volume of 2,817,777. Cinemark has a 12 month low of $15.74 and a 12 month high of $36.28. The firm has a fifty day moving average price of $30.44 and a 200-day moving average price of $29.76. The company has a quick ratio of 0.96, a current ratio of 0.98 and a debt-to-equity ratio of 3.46. The company has a market cap of $3.39 billion, a PE ratio of 17.88 and a beta of 2.38.

Cinemark (NYSE:CNK - Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.33 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.39 by ($0.06). The business had revenue of $814.30 million for the quarter, compared to analyst estimates of $797.18 million. Cinemark had a return on equity of 60.21% and a net margin of 8.36%. The business's revenue for the quarter was up 27.5% on a year-over-year basis. During the same period in the previous year, the company posted ($0.15) earnings per share. On average, sell-side analysts expect that Cinemark will post 2.08 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Aigen Investment Management LP grew its position in shares of Cinemark by 198.9% during the 3rd quarter. Aigen Investment Management LP now owns 49,400 shares of the company's stock valued at $1,375,000 after acquiring an additional 32,870 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Cinemark by 88.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 62,239 shares of the company's stock valued at $1,733,000 after purchasing an additional 29,295 shares during the period. State of New Jersey Common Pension Fund D purchased a new stake in shares of Cinemark in the third quarter valued at approximately $1,960,000. Entropy Technologies LP purchased a new position in shares of Cinemark during the 3rd quarter valued at approximately $893,000. Finally, KBC Group NV grew its stake in Cinemark by 470.1% in the 4th quarter. KBC Group NV now owns 16,920 shares of the company's stock valued at $524,000 after acquiring an additional 13,952 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.

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