Cinemark (NYSE:CNK) PT Raised to $31.00

Cinemark (NYSE:CNK) had its price target upped by Wells Fargo & Company from $28.00 to $31.00 in a report released on Thursday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

Several other research firms have also issued reports on CNK. StockNews.com upgraded shares of Cinemark from a sell rating to a hold rating in a research report on Monday, October 7th. Roth Capital upgraded shares of Cinemark from a hold rating to a strong-buy rating in a research report on Monday, June 24th. Barrington Research lowered shares of Cinemark from an outperform rating to a market perform rating in a research report on Wednesday, August 28th. Roth Mkm increased their price target on shares of Cinemark from $30.00 to $33.00 and gave the stock a buy rating in a research report on Thursday. Finally, The Goldman Sachs Group increased their price target on shares of Cinemark from $16.00 to $20.00 and gave the stock a sell rating in a research report on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $27.70.

Cinemark Stock Up 3.7 %

Cinemark stock opened at $29.68 on Thursday. The stock has a market cap of $3.63 billion, a P/E ratio of 20.47, a P/E/G ratio of 1.94 and a beta of 2.36. The company has a quick ratio of 1.26, a current ratio of 1.29 and a debt-to-equity ratio of 6.23. Cinemark has a twelve month low of $13.19 and a twelve month high of $29.87. The company’s 50-day moving average price is $27.52 and its two-hundred day moving average price is $22.08.

Cinemark (NYSE:CNK) last released its quarterly earnings results on Friday, August 2nd. The company reported $0.32 earnings per share for the quarter, beating 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 prior year, the firm earned $0.80 EPS. The business’s revenue was down 22.1% on a year-over-year basis. As a group, analysts expect that Cinemark will post 1.41 EPS for the current year.

Insider Activity

In other news, insider Valmir Fernandes sold 25,000 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $27.19, for a total transaction of $679,750.00. Following the completion of the transaction, the insider now owns 204,729 shares of the company’s stock, valued at approximately $5,566,581.51. This trade 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 is accessible through the SEC website. Insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On Cinemark

A number of hedge funds have recently bought and sold shares of CNK. Third Point LLC bought a new position in Cinemark during the first quarter worth $89,850,000. Steadfast Capital Management LP bought a new position in Cinemark during the first quarter worth $29,323,000. Jericho Capital Asset Management L.P. bought a new position in Cinemark during the first quarter worth $15,975,000. Nut Tree Capital Management LP bought a new position in Cinemark during the first quarter worth $13,250,000. Finally, Park West Asset Management LLC raised its stake in Cinemark by 34.3% during the fourth quarter. Park West Asset Management LLC now owns 1,175,000 shares of the company’s stock worth $16,556,000 after buying an additional 300,000 shares during the last quarter.

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.