Cinemark (NYSE:CNK) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Cinemark (NYSE:CNK) had its target price hoisted by research analysts at Morgan Stanley from $30.00 to $36.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s target price suggests a potential upside of 14.27% from the stock’s previous close.

CNK has been the subject of a number of other research reports. The Goldman Sachs Group reiterated a “sell” rating and set a $22.00 target price on shares of Cinemark in a research report on Thursday, February 19th. B. Riley Financial reiterated a “neutral” rating on shares of Cinemark in a research report on Friday, April 17th. Wells Fargo & Company increased their target price on shares of Cinemark from $32.00 to $36.00 and gave the stock an “overweight” rating in a research report on Thursday, April 9th. Weiss Ratings reiterated a “hold (c)” rating on shares of Cinemark in a research report on Friday, March 27th. Finally, JPMorgan Chase & Co. increased their target price on shares of Cinemark from $35.00 to $36.00 and gave the stock an “overweight” rating in a research report on Monday, May 4th. Ten research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $33.77.

Cinemark Price Performance

CNK opened at $31.51 on Tuesday. The firm has a market cap of $3.68 billion, a P/E ratio of 27.88 and a beta of 1.00. The firm has a 50-day moving average of $28.59 and a 200 day moving average of $26.40. The company has a debt-to-equity ratio of 5.03, a quick ratio of 0.58 and a current ratio of 0.62. Cinemark has a fifty-two week low of $21.60 and a fifty-two week high of $32.95.

Cinemark (NYSE:CNK) last posted its quarterly earnings results on Friday, May 1st. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The company had revenue of $643.10 million for the quarter, compared to the consensus estimate of $632.74 million. Cinemark had a net margin of 5.31% and a return on equity of 41.31%. Cinemark’s quarterly revenue was up 18.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.32) EPS. On average, research analysts expect that Cinemark will post 2.11 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in CNK. Bank of America Corp DE grew its holdings in shares of Cinemark by 115.1% in the first quarter. Bank of America Corp DE now owns 831,389 shares of the company’s stock worth $23,711,000 after purchasing an additional 444,965 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of Cinemark by 53.2% in the first quarter. Janus Henderson Group PLC now owns 376,632 shares of the company’s stock worth $10,742,000 after purchasing an additional 130,785 shares during the last quarter. Amundi grew its holdings in shares of Cinemark by 64.8% in the first quarter. Amundi now owns 18,212 shares of the company’s stock worth $519,000 after purchasing an additional 7,161 shares during the last quarter. California State Teachers Retirement System grew its holdings in shares of Cinemark by 25.3% in the first quarter. California State Teachers Retirement System now owns 121,664 shares of the company’s stock worth $3,470,000 after purchasing an additional 24,543 shares during the last quarter. Finally, Empowered Funds LLC bought a new position in shares of Cinemark in the first quarter worth approximately $328,000.

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.