Cinemark (NYSE:CNK) PT Raised to $35.00 at Morgan Stanley

Cinemark (NYSE:CNK) had its price objective raised by analysts at Morgan Stanley from $29.00 to $35.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Morgan Stanley’s target price would indicate a potential upside of 17.92% from the company’s previous close.

A number of other equities research analysts have also recently commented on the company. Macquarie increased their target price on Cinemark from $21.00 to $24.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 9th. StockNews.com upgraded shares of Cinemark from a “sell” rating to a “hold” rating in a research note on Monday, October 7th. JPMorgan Chase & Co. upped their target price on shares of Cinemark from $22.00 to $25.00 and gave the stock a “neutral” rating in a research note on Monday, August 5th. Barrington Research downgraded shares of Cinemark from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 28th. Finally, B. Riley cut Cinemark from a “buy” rating to a “neutral” rating and set a $31.00 price objective on the stock. in a research report on Tuesday, August 27th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $27.70.

Cinemark Stock Up 3.7 %

NYSE:CNK opened at $29.68 on Friday. Cinemark has a 1-year low of $13.19 and a 1-year high of $29.87. The company has a market capitalization of $3.63 billion, a PE ratio of 20.47, a P/E/G ratio of 1.94 and a beta of 2.36. The firm’s 50-day moving average price is $27.52 and its 200-day moving average price is $22.05. The company has a debt-to-equity ratio of 6.23, a current ratio of 1.29 and a quick ratio of 1.26.

Cinemark (NYSE:CNK) last announced its earnings results on Friday, August 2nd. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.25. Cinemark had a net margin of 5.05% and a return on equity of 41.87%. The business had revenue of $734.20 million during the quarter, compared to the consensus estimate of $691.74 million. During the same quarter last year, the firm earned $0.80 earnings per share. The business’s revenue for the quarter was down 22.1% on a year-over-year basis. On average, equities analysts predict that Cinemark will post 1.41 EPS for the current fiscal year.

Insider Buying and Selling

In other Cinemark news, insider Valmir Fernandes sold 25,000 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $27.19, for a total value of $679,750.00. Following the transaction, the insider now owns 204,729 shares of the company’s stock, valued at approximately $5,566,581.51. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Cinemark

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its position in shares of Cinemark by 106.1% during the 3rd quarter. GAMMA Investing LLC now owns 2,020 shares of the company’s stock valued at $56,000 after acquiring an additional 1,040 shares during the period. Point72 Asia Singapore Pte. Ltd. grew its holdings in Cinemark by 38.7% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,145 shares of the company’s stock valued at $68,000 after purchasing an additional 877 shares during the period. USA Financial Formulas purchased a new stake in Cinemark in the third quarter worth about $77,000. 1620 Investment Advisors Inc. bought a new position in shares of Cinemark in the second quarter worth about $79,000. Finally, CWM LLC increased its holdings in Cinemark by 134.4% in the 3rd quarter. CWM LLC now owns 2,993 shares of the company’s stock worth $83,000 after acquiring an additional 1,716 shares in the last quarter.

About Cinemark

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.