The Goldman Sachs Group Increases Cinemark (NYSE:CNK) Price Target to $20.00

Cinemark (NYSE:CNK) had its target price upped by analysts at The Goldman Sachs Group from $16.00 to $20.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has a “sell” rating on the stock. The Goldman Sachs Group’s target price indicates a potential downside of 28.90% from the stock’s previous close.

A number of other research analysts have also weighed in on CNK. Wedbush boosted their target price on shares of Cinemark from $28.00 to $31.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 3rd. Macquarie boosted their target price on shares of Cinemark from $21.00 to $24.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 9th. Barrington Research lowered shares of Cinemark from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 28th. B. Riley lowered shares of Cinemark from a “buy” rating to a “neutral” rating and set a $31.00 target price for the company. in a research report on Tuesday, August 27th. Finally, StockNews.com lowered shares of Cinemark from a “hold” rating to a “sell” rating in a research report on Tuesday, August 13th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $26.00.

Cinemark Trading Down 1.7 %

NYSE CNK traded down $0.49 on Thursday, hitting $28.13. 727,819 shares of the stock were exchanged, compared to its average volume of 2,931,644. Cinemark has a 52-week low of $13.19 and a 52-week high of $29.07. The company has a debt-to-equity ratio of 6.23, a current ratio of 1.29 and a quick ratio of 1.26. The company has a market capitalization of $3.44 billion, a price-to-earnings ratio of 19.40, a P/E/G ratio of 2.12 and a beta of 2.36. The company’s 50-day moving average price is $25.62 and its two-hundred day moving average price is $20.92.

Cinemark (NYSE:CNK) last posted its quarterly earnings data on Friday, August 2nd. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.25. Cinemark had a net margin of 5.05% and a return on equity of 41.87%. The firm had revenue of $734.20 million for the quarter, compared to analysts’ expectations of $691.74 million. During the same period in the previous year, the company posted $0.80 EPS. The company’s quarterly revenue was down 22.1% compared to the same quarter last year. Research analysts predict that Cinemark will post 1.33 EPS for the current year.

Insider Activity at Cinemark

In related news, insider Valmir Fernandes sold 25,000 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $27.19, for a total value of $679,750.00. Following the sale, the insider now owns 204,729 shares of the company’s stock, valued at $5,566,581.51. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Cinemark

Several large investors have recently bought and sold shares of the business. Point72 DIFC Ltd acquired a new position in Cinemark in the second quarter valued at approximately $144,000. Point72 Asia Singapore Pte. Ltd. lifted its holdings in Cinemark by 38.7% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,145 shares of the company’s stock valued at $68,000 after buying an additional 877 shares during the period. Algert Global LLC acquired a new position in Cinemark in the second quarter valued at approximately $238,000. Susquehanna Fundamental Investments LLC lifted its holdings in Cinemark by 5.0% in the second quarter. Susquehanna Fundamental Investments LLC now owns 108,988 shares of the company’s stock valued at $2,356,000 after buying an additional 5,199 shares during the period. Finally, Luxor Capital Group LP lifted its holdings in Cinemark by 491.0% in the second quarter. Luxor Capital Group LP now owns 99,295 shares of the company’s stock valued at $2,147,000 after buying an additional 82,493 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.