Cinemark (NYSE:CNK) Upgraded by Roth Capital to Strong-Buy

Roth Capital upgraded shares of Cinemark (NYSE:CNK) from a hold rating to a strong-buy rating in a report released on Monday morning, Zacks.com reports.

A number of other brokerages have also weighed in on CNK. Benchmark restated a buy rating and set a $23.00 price objective on shares of Cinemark in a research note on Friday, May 3rd. Barrington Research restated an outperform rating and issued a $24.00 target price on shares of Cinemark in a research note on Monday, June 17th. Wells Fargo & Company upgraded Cinemark from an underweight rating to an overweight rating and lifted their price target for the stock from $13.00 to $23.00 in a research note on Friday, April 5th. StockNews.com lowered shares of Cinemark from a hold rating to a sell rating in a report on Thursday, May 30th. Finally, B. Riley raised their target price on shares of Cinemark from $14.00 to $16.00 and gave the stock a neutral rating in a report on Friday, May 3rd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $21.33.

Cinemark Stock Performance

Shares of CNK stock opened at $21.13 on Monday. The firm has a market capitalization of $2.59 billion, a price-to-earnings ratio of 14.57, a price-to-earnings-growth ratio of 2.00 and a beta of 2.27. The company has a 50 day moving average price of $18.00 and a 200 day moving average price of $16.68. Cinemark has a one year low of $13.19 and a one year high of $21.49. The company has a debt-to-equity ratio of 7.42, a quick ratio of 1.45 and a current ratio of 1.48.

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

Institutional Trading of Cinemark

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CNK. Nut Tree Capital Management LP acquired a new position in Cinemark in the 1st quarter valued at approximately $13,250,000. Comerica Bank increased its stake in Cinemark by 36.4% in the first quarter. Comerica Bank now owns 68,261 shares of the company’s stock valued at $1,227,000 after acquiring an additional 18,198 shares during the period. Jericho Capital Asset Management L.P. acquired a new position in Cinemark in the first quarter worth about $15,975,000. Kodai Capital Management LP lifted its stake in Cinemark by 31.7% during the first quarter. Kodai Capital Management LP now owns 373,370 shares of the company’s stock worth $6,709,000 after purchasing an additional 89,875 shares during the period. Finally, Third Point LLC acquired a new stake in Cinemark during the first quarter valued at approximately $89,850,000.

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.