B. Riley Boosts Cinemark (NYSE:CNK) Price Target to $31.00

Cinemark (NYSE:CNK) had its price objective increased by B. Riley from $28.00 to $31.00 in a research note issued to investors on Monday morning, The Fly reports. The firm currently has a buy rating on the stock. B. Riley also issued estimates for Cinemark’s Q3 2021 earnings at ($0.64) EPS, Q4 2021 earnings at ($0.24) EPS, FY2021 earnings at ($3.81) EPS, Q1 2022 earnings at ($0.20) EPS, Q2 2022 earnings at $0.39 EPS, Q3 2022 earnings at $0.16 EPS, Q4 2022 earnings at ($0.02) EPS, FY2022 earnings at $0.34 EPS, Q1 2023 earnings at $0.08 EPS, Q2 2023 earnings at $0.67 EPS, Q3 2023 earnings at $0.48 EPS and FY2023 earnings at $1.52 EPS.

A number of other equities analysts also recently commented on the stock. Morgan Stanley dropped their target price on shares of Cinemark from $25.00 to $20.00 and set an equal weight rating on the stock in a research note on Thursday, July 29th. Zacks Investment Research raised shares of Cinemark from a sell rating to a hold rating in a research report on Thursday, July 22nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Cinemark presently has a consensus rating of Hold and an average target price of $23.40.

Shares of CNK stock opened at $19.52 on Monday. The company has a debt-to-equity ratio of 6.51, a current ratio of 1.10 and a quick ratio of 1.08. The company has a market capitalization of $2.34 billion, a P/E ratio of -3.14 and a beta of 2.57. The company’s 50-day simple moving average is $17.53 and its two-hundred day simple moving average is $19.69. Cinemark has a one year low of $7.56 and a one year high of $27.84.

Cinemark (NYSE:CNK) last issued its earnings results on Thursday, August 5th. The company reported ($1.19) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.13) by ($0.06). The company had revenue of $294.70 million during the quarter, compared to the consensus estimate of $260.98 million. Cinemark had a negative return on equity of 107.71% and a negative net margin of 135.90%. Cinemark’s revenue was up 3174.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.45) earnings per share. On average, research analysts expect that Cinemark will post -3.7 EPS for the current fiscal year.

A number of large investors have recently bought and sold shares of the stock. Louisiana State Employees Retirement System lifted its position in Cinemark by 81.9% during the third quarter. Louisiana State Employees Retirement System now owns 51,300 shares of the company’s stock valued at $985,000 after acquiring an additional 23,100 shares during the last quarter. State of Alaska Department of Revenue lifted its position in Cinemark by 362.5% during the third quarter. State of Alaska Department of Revenue now owns 77,664 shares of the company’s stock valued at $1,491,000 after acquiring an additional 60,870 shares during the last quarter. First Dallas Securities Inc. lifted its position in Cinemark by 5.2% during the third quarter. First Dallas Securities Inc. now owns 21,400 shares of the company’s stock valued at $411,000 after acquiring an additional 1,050 shares during the last quarter. Hodges Capital Management Inc. lifted its position in Cinemark by 489.0% during the third quarter. Hodges Capital Management Inc. now owns 807,464 shares of the company’s stock valued at $15,512,000 after acquiring an additional 670,374 shares during the last quarter. Finally, Parametric Portfolio Associates LLC lifted its position in Cinemark by 52.3% during the second quarter. Parametric Portfolio Associates LLC now owns 904,685 shares of the company’s stock valued at $19,858,000 after acquiring an additional 310,523 shares during the last quarter. 86.85% of the stock is owned by institutional investors.

Cinemark Company Profile

Cinemark Holdings, Inc is a holding company, which engages in the provision of motion picture exhibition through its subsidiaries. It operates through the U.S. and International segments. The company was founded by Lee Roy Mitchell in 1984 and is headquartered in Plano, TX.

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