Wells Fargo & Company Forecasts Strong Price Appreciation for Cinemark (NYSE:CNK) Stock

Cinemark (NYSE:CNK) had its price target boosted by Wells Fargo & Company from $31.00 to $35.00 in a research note published on Friday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Other equities research analysts have also recently issued reports about the stock. Wedbush boosted their price target on shares of Cinemark from $31.00 to $32.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. Barrington Research upgraded Cinemark from a “market perform” rating to an “outperform” rating and set a $36.00 target price on the stock in a report on Thursday. Roth Mkm raised their price target on Cinemark from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. JPMorgan Chase & Co. upped their price objective on Cinemark from $25.00 to $29.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. Finally, B. Riley downgraded Cinemark from a “buy” rating to a “neutral” rating and set a $31.00 price objective for the company. in a report on Tuesday, August 27th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $30.80.

Cinemark Stock Up 0.3 %

Shares of Cinemark stock opened at $29.85 on Friday. Cinemark has a 52-week low of $13.19 and a 52-week high of $31.09. The company has a debt-to-equity ratio of 4.11, a quick ratio of 1.26 and a current ratio of 1.29. The business’s 50 day simple moving average is $28.24 and its 200 day simple moving average is $23.23. The firm has a market cap of $3.65 billion, a PE ratio of 19.26, a P/E/G ratio of 2.02 and a beta of 2.35.

Cinemark (NYSE:CNK) last posted its quarterly earnings data on Thursday, October 31st. The company reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.61. Cinemark had a net margin of 8.36% and a return on equity of 60.21%. The company had revenue of $921.80 million for the quarter, compared to the consensus estimate of $894.90 million. During the same period last year, the company earned $0.61 earnings per share. The firm’s revenue was up 5.4% compared to the same quarter last year. On average, analysts predict that Cinemark will post 1.47 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Cinemark news, insider Valmir Fernandes sold 25,000 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $27.19, for a total transaction of $679,750.00. Following the completion of the sale, the insider now owns 204,729 shares of the company’s stock, valued at $5,566,581.51. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Cinemark

Large investors have recently modified their holdings of the stock. Easterly Investment Partners LLC grew its stake in Cinemark by 1.1% in the 1st quarter. Easterly Investment Partners LLC now owns 491,903 shares of the company’s stock valued at $8,839,000 after buying an additional 5,236 shares during the last quarter. Texas Permanent School Fund Corp boosted its holdings in shares of Cinemark by 1.5% during the first quarter. Texas Permanent School Fund Corp now owns 92,591 shares of the company’s stock worth $1,664,000 after acquiring an additional 1,345 shares during the period. Mitchell Capital Management Co. grew its position in shares of Cinemark by 3.0% in the first quarter. Mitchell Capital Management Co. now owns 395,801 shares of the company’s stock valued at $7,113,000 after purchasing an additional 11,443 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of Cinemark during the first quarter worth approximately $1,865,000. Finally, Sei Investments Co. lifted its holdings in Cinemark by 38.1% during the 1st quarter. Sei Investments Co. now owns 115,124 shares of the company’s stock worth $2,069,000 after purchasing an additional 31,739 shares during 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.