Cinemark (NYSE:CNK) Raised to “Buy” at Roth Mkm

Roth Mkm upgraded shares of Cinemark (NYSE:CNK) from a neutral rating to a buy rating in a report released on Monday, Marketbeat reports. Roth Mkm currently has $26.00 price target on the stock, up from their previous price target of $19.00.

CNK has been the topic of several other research reports. StockNews.com lowered Cinemark from a hold rating to a sell rating in a research note on Thursday, May 30th. JPMorgan Chase & Co. boosted their price target on Cinemark from $17.00 to $19.00 and gave the company a neutral rating in a research note on Monday, April 8th. Barrington Research reaffirmed an outperform rating and issued a $24.00 price target on shares of Cinemark in a research note on Monday, June 17th. Benchmark reaffirmed a buy rating and issued a $23.00 price target on shares of Cinemark in a research note on Friday, May 3rd. Finally, B. Riley lifted their price objective on Cinemark from $14.00 to $16.00 and gave the company a neutral rating in a research report on Friday, May 3rd. Two analysts have rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $21.33.

Cinemark Price Performance

Shares of NYSE:CNK opened at $21.25 on Monday. Cinemark has a 1-year low of $13.19 and a 1-year high of $21.49. The firm has a market capitalization of $2.60 billion, a PE ratio of 14.66, a PEG ratio of 2.00 and a beta of 2.27. The business’s 50 day moving average is $17.94 and its 200-day moving average is $16.64. The company has a current ratio of 1.48, a quick ratio of 1.45 and a debt-to-equity ratio of 7.42.

Cinemark (NYSE:CNK) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.40. The company had revenue of $579.00 million for the quarter, compared to analyst estimates of $561.91 million. Cinemark had a return on equity of 69.48% and a net margin of 7.12%. Cinemark’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.03) EPS. Sell-side analysts predict that Cinemark will post 1.07 earnings per share for the current year.

Institutional Investors Weigh In On Cinemark

A number of institutional investors and hedge funds have recently made changes to their positions in CNK. NBC Securities Inc. raised its position in shares of Cinemark by 17.2% during the fourth quarter. NBC Securities Inc. now owns 4,764 shares of the company’s stock worth $67,000 after acquiring an additional 700 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of Cinemark during the fourth quarter worth $192,000. DekaBank Deutsche Girozentrale bought a new stake in shares of Cinemark during the third quarter worth $193,000. Mackenzie Financial Corp bought a new stake in shares of Cinemark during the fourth quarter worth $210,000. Finally, Watershed Asset Management L.L.C. raised its position in shares of Cinemark by 6.2% during the fourth quarter. Watershed Asset Management L.L.C. now owns 15,658 shares of the company’s stock worth $221,000 after acquiring an additional 915 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.