JPMorgan Chase & Co. Boosts Cinemark (NYSE:CNK) Price Target to $29.00

Cinemark (NYSE:CNK) had its price objective hoisted by JPMorgan Chase & Co. from $25.00 to $29.00 in a report released on Monday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other research analysts have also recently issued reports on the company. Roth Mkm increased their price objective on Cinemark from $30.00 to $33.00 and gave the stock a buy rating in a research report on Thursday, October 10th. Wedbush lifted their price objective on Cinemark from $28.00 to $31.00 and gave the stock an outperform rating in a research report on Tuesday, September 3rd. B. Riley cut Cinemark from a buy rating to a neutral rating and set a $31.00 price objective for the company. in a research report on Tuesday, August 27th. The Goldman Sachs Group lifted their price objective on Cinemark from $16.00 to $20.00 and gave the stock a sell rating in a research report on Thursday, September 19th. Finally, Morgan Stanley lifted their price objective on Cinemark from $29.00 to $35.00 and gave the stock an overweight rating in a research report on Friday. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Cinemark currently has an average rating of Moderate Buy and an average price target of $28.10.

Cinemark Price Performance

CNK stock opened at $29.09 on Monday. The company has a market capitalization of $3.56 billion, a P/E ratio of 20.06, a PEG ratio of 1.94 and a beta of 2.36. Cinemark has a twelve month low of $13.19 and a twelve month high of $29.87. The business has a 50 day simple moving average of $27.59 and a 200-day simple moving average of $22.19. The company has a current ratio of 1.29, a quick ratio of 1.26 and a debt-to-equity ratio of 6.23.

Cinemark (NYSE:CNK) last issued its quarterly earnings results 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 return on equity of 41.87% and a net margin of 5.05%. The firm had revenue of $734.20 million during the quarter, compared to the consensus estimate of $691.74 million. During the same period last year, the company earned $0.80 earnings per share. The company’s revenue for the quarter was down 22.1% on a year-over-year basis. As a group, equities analysts anticipate that Cinemark will post 1.41 EPS for the current year.

Insider Activity

In other news, insider Valmir Fernandes sold 25,000 shares of Cinemark 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 directly owns 204,729 shares of the company’s stock, valued at $5,566,581.51. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On Cinemark

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Creative Planning lifted its position in Cinemark by 74.8% during the 3rd quarter. Creative Planning now owns 20,907 shares of the company’s stock worth $582,000 after acquiring an additional 8,946 shares in the last quarter. Ritholtz Wealth Management acquired a new position in Cinemark during the 3rd quarter worth approximately $489,000. USA Financial Formulas acquired a new position in Cinemark during the 3rd quarter worth approximately $77,000. CWM LLC increased its holdings in Cinemark by 134.4% during the 3rd quarter. CWM LLC now owns 2,993 shares of the company’s stock worth $83,000 after purchasing an additional 1,716 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in Cinemark by 106.1% during the 3rd quarter. GAMMA Investing LLC now owns 2,020 shares of the company’s stock worth $56,000 after purchasing an additional 1,040 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.