Wedbush Reiterates "Neutral" Rating for Cinemark (NYSE:CNK)

Cinemark (NYSE:CNK - Get Free Report)'s stock had its "neutral" rating reiterated by research analysts at Wedbush in a research note issued to investors on Monday,Benzinga reports. They currently have a $32.00 price objective on the stock. Wedbush's price target indicates a potential upside of 7.31% from the stock's previous close.

CNK has been the subject of a number of other reports. Morgan Stanley decreased their price objective on shares of Cinemark from $40.00 to $35.00 and set an "overweight" rating for the company in a report on Thursday, February 20th. JPMorgan Chase & Co. upgraded shares of Cinemark from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $30.00 to $34.00 in a report on Friday, April 11th. Benchmark cut their price target on Cinemark from $40.00 to $35.00 and set a "buy" rating for the company in a report on Thursday, February 20th. Barrington Research restated an "outperform" rating and issued a $40.00 price objective on shares of Cinemark in a research note on Wednesday, February 19th. Finally, Macquarie reaffirmed an "outperform" rating and set a $35.00 price objective on shares of Cinemark in a report on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Cinemark currently has an average rating of "Moderate Buy" and a consensus target price of $33.10.

Cinemark Stock Up 1.0 %

Shares of CNK traded up $0.28 during trading hours on Monday, reaching $29.82. The company's stock had a trading volume of 192,380 shares, compared to its average volume of 3,600,419. The company has a quick ratio of 0.96, a current ratio of 1.01 and a debt-to-equity ratio of 3.28. The firm has a market cap of $3.52 billion, a price-to-earnings ratio of 14.69 and a beta of 2.07. The company has a 50 day moving average of $26.15 and a two-hundred day moving average of $29.30. Cinemark has a 1-year low of $16.32 and a 1-year high of $36.28.

Cinemark (NYSE:CNK - Get Free Report) last released its 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). Cinemark had a return on equity of 65.83% and a net margin of 10.16%. The company had revenue of $814.30 million during the quarter, compared to analysts' expectations of $797.18 million. During the same quarter in the previous year, the company earned ($0.15) EPS. The firm's quarterly revenue was up 27.5% compared to the same quarter last year. As a group, research analysts predict that Cinemark will post 1.93 EPS for the current fiscal year.

Insider Buying and Selling at Cinemark

In related news, insider Wanda Marie Gierhart sold 9,119 shares of the firm's stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $27.00, for a total value of $246,213.00. Following the completion of the transaction, the insider now directly owns 147,414 shares of the company's stock, valued at approximately $3,980,178. This trade represents a 5.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.30% of the company's stock.

Institutional Investors Weigh In On Cinemark

Institutional investors have recently modified their holdings of the business. Elequin Capital LP boosted its holdings in Cinemark by 211.6% in the 4th quarter. Elequin Capital LP now owns 997 shares of the company's stock valued at $31,000 after purchasing an additional 677 shares during the period. Russell Investments Group Ltd. raised its holdings in shares of Cinemark by 402.4% during the 4th quarter. Russell Investments Group Ltd. now owns 1,030 shares of the company's stock worth $32,000 after buying an additional 825 shares in the last quarter. Aster Capital Management DIFC Ltd lifted its position in shares of Cinemark by 380.0% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,896 shares of the company's stock worth $59,000 after buying an additional 1,501 shares during the last quarter. R Squared Ltd acquired a new stake in Cinemark in the fourth quarter valued at about $63,000. Finally, Quarry LP lifted its holdings in shares of Cinemark by 41.8% in the fourth quarter. Quarry LP now owns 2,114 shares of the company's stock worth $65,000 after acquiring an additional 623 shares during the last quarter.

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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