Cinemark (NYSE:CNK) Hits New 1-Year High at $21.76

Cinemark Holdings, Inc. (NYSE:CNK) shares reached a new 52-week high during trading on Monday . The company traded as high as $21.76 and last traded at $21.71, with a volume of 201745 shares changing hands. The stock had previously closed at $21.62.

Wall Street Analyst Weigh In

A number of research firms recently commented on CNK. B. Riley increased their price objective on Cinemark from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Benchmark restated a “buy” rating and issued a $23.00 price target on shares of Cinemark in a report on Monday. Barrington Research reiterated an “outperform” rating and set a $24.00 price objective on shares of Cinemark in a report on Monday, June 17th. Wedbush restated an “outperform” rating and issued a $25.00 target price on shares of Cinemark in a report on Thursday, June 27th. Finally, Wells Fargo & Company raised shares of Cinemark from an “underweight” rating to an “overweight” rating and increased their price target for the stock from $13.00 to $23.00 in a research note on Friday, April 5th. Two analysts have rated the stock with a sell rating, two have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $21.33.

Cinemark Trading Down 0.6 %

The company has a debt-to-equity ratio of 7.42, a current ratio of 1.48 and a quick ratio of 1.45. The business’s 50-day simple moving average is $18.21 and its two-hundred day simple moving average is $16.83. The stock has a market capitalization of $2.62 billion, a price-to-earnings ratio of 14.78, a PEG ratio of 2.02 and a beta of 2.36.

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

Institutional Investors Weigh In On Cinemark

Several institutional investors and hedge funds have recently modified their holdings of CNK. Natixis Advisors L.P. lifted its position in Cinemark by 5.9% during the 3rd quarter. Natixis Advisors L.P. now owns 22,210 shares of the company’s stock worth $408,000 after acquiring an additional 1,241 shares in the last quarter. Schonfeld Strategic Advisors LLC raised its stake in shares of Cinemark by 276.6% during the third quarter. Schonfeld Strategic Advisors LLC now owns 189,074 shares of the company’s stock valued at $3,470,000 after purchasing an additional 138,874 shares during the period. Seven Eight Capital LP purchased a new stake in shares of Cinemark during the third quarter valued at approximately $1,029,000. Graham Capital Management L.P. raised its stake in shares of Cinemark by 21.4% during the third quarter. Graham Capital Management L.P. now owns 62,430 shares of the company’s stock valued at $1,146,000 after purchasing an additional 11,001 shares during the period. Finally, Neo Ivy Capital Management raised its stake in shares of Cinemark by 17.4% during the third quarter. Neo Ivy Capital Management now owns 25,412 shares of the company’s stock valued at $466,000 after purchasing an additional 3,758 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.