Cinemark (NYSE:CNK) Price Target Raised to $40.00

Cinemark (NYSE:CNK) had its price objective increased by investment analysts at Benchmark from $32.00 to $40.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Benchmark’s price target indicates a potential upside of 13.19% from the stock’s current price.

CNK has been the topic of a number of other reports. Barrington Research raised shares of Cinemark from a “market perform” rating to an “outperform” rating and set a $36.00 price objective on the stock in a research report on Thursday, October 31st. Morgan Stanley boosted their price objective on shares of Cinemark from $29.00 to $35.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Roth Mkm boosted their price objective 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. The Goldman Sachs Group lifted their target price on shares of Cinemark from $16.00 to $20.00 and gave the company a “sell” rating in a research note on Thursday, September 19th. Finally, Macquarie lifted their target price on shares of Cinemark from $32.00 to $34.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. 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 stock. According to data from MarketBeat, Cinemark currently has a consensus rating of “Moderate Buy” and an average price target of $32.80.

Cinemark Stock Performance

Cinemark stock opened at $35.34 on Tuesday. The firm’s 50 day simple moving average is $30.38 and its 200-day simple moving average is $25.61. The company has a market cap of $4.32 billion, a P/E ratio of 22.80, a price-to-earnings-growth ratio of 1.81 and a beta of 2.38. The company has a debt-to-equity ratio of 3.46, a current ratio of 0.98 and a quick ratio of 0.96. Cinemark has a fifty-two week low of $13.19 and a fifty-two week high of $36.28.

Cinemark (NYSE:CNK) last announced its quarterly earnings data on Thursday, October 31st. The company reported $1.19 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 firm had revenue of $921.80 million for the quarter, compared to the consensus estimate of $894.90 million. During the same period in the previous year, the firm posted $0.61 earnings per share. The firm’s revenue was up 5.4% on a year-over-year basis. As a group, equities research analysts predict that Cinemark will post 2 EPS for the current year.

Insider Transactions at Cinemark

In other news, insider Valmir Fernandes sold 25,000 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $32.68, for a total value of $817,000.00. Following the completion of the sale, the insider now directly owns 179,729 shares in the company, valued at approximately $5,873,543.72. The trade was a 12.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.30% of the stock is owned by corporate insiders.

Institutional Trading of Cinemark

Institutional investors and hedge funds have recently modified their holdings of the company. Quarry LP lifted its stake in shares of Cinemark by 714.8% in the third quarter. Quarry LP now owns 1,491 shares of the company’s stock worth $42,000 after buying an additional 1,308 shares during the last quarter. GAMMA Investing LLC increased its position in Cinemark by 106.1% during the third quarter. GAMMA Investing LLC now owns 2,020 shares of the company’s stock worth $56,000 after acquiring an additional 1,040 shares during the period. USA Financial Formulas bought a new position in Cinemark during the third quarter worth $77,000. CWM LLC increased its position in Cinemark by 134.4% during the third quarter. CWM LLC now owns 2,993 shares of the company’s stock worth $83,000 after acquiring an additional 1,716 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. increased its position in Cinemark by 38.7% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,145 shares of the company’s stock worth $68,000 after acquiring an additional 877 shares during the period.

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.