Cinemark (NYSE:CNK) Given New $37.00 Price Target at Benchmark

Cinemark (NYSE:CNK) had its price objective boosted by analysts at Benchmark from $35.00 to $37.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Benchmark’s target price points to a potential upside of 11.66% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on CNK. Zacks Research cut shares of Cinemark from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 2nd. Roth Mkm restated a “buy” rating and set a $37.00 target price on shares of Cinemark in a report on Thursday, April 23rd. Wall Street Zen upgraded Cinemark from a “hold” rating to a “buy” rating in a research note on Sunday, May 31st. Wells Fargo & Company increased their price objective on Cinemark from $32.00 to $36.00 and gave the company an “overweight” rating in a report on Thursday, April 9th. Finally, Morgan Stanley raised their price objective on Cinemark from $30.00 to $36.00 and gave the company an “equal weight” rating in a research note on Tuesday, June 9th. Ten analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Cinemark currently has a consensus rating of “Moderate Buy” and an average target price of $34.46.

Cinemark Stock Up 0.3%

CNK traded up $0.12 during midday trading on Wednesday, hitting $33.14. 31,501 shares of the company’s stock traded hands, compared to its average volume of 2,356,678. The company has a market cap of $3.87 billion, a PE ratio of 29.32 and a beta of 1.00. The stock’s fifty day simple moving average is $29.13 and its 200-day simple moving average is $26.58. The company has a debt-to-equity ratio of 5.03, a current ratio of 0.62 and a quick ratio of 0.58. Cinemark has a one year low of $21.60 and a one year high of $34.40.

Cinemark (NYSE:CNK) last posted its earnings results on Friday, May 1st. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.01). Cinemark had a return on equity of 41.31% and a net margin of 5.31%.The business had revenue of $643.10 million during the quarter, compared to the consensus estimate of $632.74 million. During the same period in the prior year, the firm earned ($0.32) earnings per share. The business’s revenue was up 18.9% on a year-over-year basis. As a group, equities analysts anticipate that Cinemark will post 2.18 earnings per share for the current fiscal year.

Institutional Trading of Cinemark

Hedge funds have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Cinemark by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,699 shares of the company’s stock valued at $1,635,000 after purchasing an additional 2,872 shares in the last quarter. Woodline Partners LP acquired a new stake in Cinemark during the first quarter worth $570,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Cinemark by 8.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 345,258 shares of the company’s stock valued at $8,593,000 after buying an additional 25,490 shares during the period. Acadian Asset Management LLC acquired a new position in shares of Cinemark in the 1st quarter valued at $372,000. Finally, Russell Investments Group Ltd. raised its stake in shares of Cinemark by 48.0% in the 2nd quarter. Russell Investments Group Ltd. now owns 5,228 shares of the company’s stock valued at $158,000 after buying an additional 1,696 shares in the last quarter.

About Cinemark

Cinemark Holdings, Inc (NYSE: CNK) is a leading theatrical exhibitor that acquires, develops and operates motion picture theatres under the Cinemark® brand in the United States and Latin America. The company’s core business involves the presentation of first-run feature films coupled with an array of in‐theatre services, including concessions, premium auditoriums and loyalty programs. Cinemark’s exhibition portfolio encompasses both corporate‐owned and franchised complexes, offering moviegoers a range of experiences from standard screens to large‐format halls.

The company’s product offerings extend beyond ticket sales to include an assortment of concession items, such as popcorn, fountain beverages, candy and specialty snacks, as well as bar and lounge concepts in select locations.