Cinemark (NYSE:CNK) Price Target Raised to $34.00

Cinemark (NYSE:CNK) had its price objective raised by Macquarie from $32.00 to $34.00 in a research note published on Friday morning, Benzinga reports. Macquarie currently has an outperform rating on the stock.

A number of other research analysts have also weighed in on CNK. Morgan Stanley raised their target price on shares of Cinemark from $29.00 to $35.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Roth Mkm upped their target price on shares of Cinemark from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Wedbush lifted their price target on Cinemark from $31.00 to $32.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. JPMorgan Chase & Co. boosted 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, Barrington Research raised Cinemark from a “market perform” rating to an “outperform” rating and set a $36.00 price objective for the company in a research note on Thursday, October 31st. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $30.80.

Cinemark Price Performance

Shares of NYSE:CNK opened at $29.57 on Friday. 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 firm has a market cap of $3.62 billion, a price-to-earnings ratio of 19.08, a P/E/G ratio of 2.02 and a beta of 2.35. The firm has a fifty day moving average price of $28.26 and a 200 day moving average price of $23.31. Cinemark has a fifty-two week low of $13.19 and a fifty-two week high of $31.09.

Cinemark (NYSE:CNK) last issued its earnings results on Thursday, October 31st. The company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.61. Cinemark had a return on equity of 60.21% and a net margin of 8.36%. The firm had revenue of $921.80 million for the quarter, compared to analysts’ expectations of $894.90 million. During the same period in the previous year, the firm posted $0.61 earnings per share. The business’s revenue was up 5.4% compared to the same quarter last year. As a group, sell-side analysts expect that Cinemark will post 1.47 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Valmir Fernandes sold 25,000 shares of Cinemark stock in a transaction dated 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 sale, the insider now owns 204,729 shares in the company, valued at $5,566,581.51. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On Cinemark

Institutional investors and hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC increased its stake in shares of Cinemark by 106.1% during the third quarter. GAMMA Investing LLC now owns 2,020 shares of the company’s stock valued at $56,000 after buying an additional 1,040 shares during the period. USA Financial Formulas bought a new stake in shares of Cinemark in the 3rd quarter valued at about $77,000. CWM LLC lifted its position in shares of Cinemark by 134.4% in 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 period. Point72 Asia Singapore Pte. Ltd. lifted its position in shares of Cinemark by 38.7% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,145 shares of the company’s stock worth $68,000 after purchasing an additional 877 shares during the period. Finally, 1620 Investment Advisors Inc. bought a new position in shares of Cinemark during the second quarter valued at approximately $79,000.

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.