Cinemark (NYSE:CNK) Given New $30.00 Price Target at JPMorgan Chase & Co.

Cinemark (NYSE:CNK) had its price target dropped by research analysts at JPMorgan Chase & Co. from $31.00 to $30.00 in a report released on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 9.20% from the stock’s current price.

Several other research firms also recently commented on CNK. StockNews.com raised shares of Cinemark from a “sell” rating to a “hold” rating in a research note on Sunday, November 10th. Macquarie lifted their price target on shares of Cinemark from $32.00 to $34.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Wedbush reissued a “neutral” rating and set a $32.00 price target on shares of Cinemark in a research note on Tuesday. Wells Fargo & Company decreased their target price on shares of Cinemark from $38.00 to $36.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 29th. Finally, Benchmark decreased their target price on shares of Cinemark from $40.00 to $35.00 and set a “buy” rating on the stock in a research note on Thursday. One analyst has rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Cinemark has an average rating of “Moderate Buy” and a consensus price target of $32.70.

Cinemark Trading Down 1.1 %

CNK stock opened at $27.47 on Thursday. The company has a market capitalization of $3.36 billion, a PE ratio of 13.53 and a beta of 2.38. Cinemark has a one year low of $15.74 and a one year high of $36.28. The company’s 50 day moving average price is $30.33 and its two-hundred day moving average price is $29.75. The company has a debt-to-equity ratio of 3.87, a quick ratio of 0.96 and a current ratio of 0.98.

Cinemark (NYSE:CNK) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.06). The business had revenue of $814.30 million for the quarter, compared to analysts’ expectations of $797.18 million. Cinemark had a return on equity of 65.83% and a net margin of 10.16%. The company’s revenue was up 27.5% compared to the same quarter last year. During the same period last year, the business posted ($0.15) earnings per share. As a group, analysts predict that Cinemark will post 1.98 earnings per share for the current fiscal year.

Institutional Trading of Cinemark

Hedge funds have recently modified their holdings of the business. Elequin Capital LP boosted its holdings in shares of Cinemark by 211.6% during the 4th quarter. Elequin Capital LP now owns 997 shares of the company’s stock valued at $31,000 after buying an additional 677 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Cinemark by 402.4% during the 4th quarter. Russell Investments Group Ltd. now owns 1,030 shares of the company’s stock valued at $32,000 after buying an additional 825 shares in the last quarter. Quarry LP boosted its holdings in shares of Cinemark by 714.8% during the 3rd quarter. Quarry LP now owns 1,491 shares of the company’s stock valued at $42,000 after buying an additional 1,308 shares in the last quarter. Aster Capital Management DIFC Ltd boosted its holdings in shares of Cinemark by 380.0% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,896 shares of the company’s stock valued at $59,000 after buying an additional 1,501 shares in the last quarter. Finally, R Squared Ltd bought a new stake in shares of Cinemark during the 4th quarter valued at $63,000.

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.