Cinemark (NYSE:CNK) Price Target Raised to $29.00

Cinemark (NYSE:CNK) had its price target raised by JPMorgan Chase & Co. from $25.00 to $29.00 in a research note published on Monday, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Other equities research analysts also recently issued reports about the stock. StockNews.com upgraded shares of Cinemark from a “sell” rating to a “hold” rating in a research note on Monday, October 7th. Wedbush raised their target price on shares of Cinemark from $28.00 to $31.00 and gave the company an “outperform” rating in a research note on Tuesday, September 3rd. 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 research note on Friday, October 11th. Wells Fargo & Company raised their target price on shares of Cinemark from $28.00 to $31.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Finally, The Goldman Sachs Group lifted their price objective on shares of Cinemark from $16.00 to $20.00 and gave the stock a “sell” rating in a research note on Thursday, September 19th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $28.10.

Cinemark Stock Performance

Shares of CNK stock opened at $28.67 on Monday. The firm has a market cap of $3.51 billion, a price-to-earnings ratio of 19.77, a PEG ratio of 1.94 and a beta of 2.36. The company’s 50 day moving average is $27.69 and its 200 day moving average is $22.31. The company has a quick ratio of 1.26, a current ratio of 1.29 and a debt-to-equity ratio of 6.23. Cinemark has a 52-week low of $13.19 and a 52-week high of $29.87.

Cinemark (NYSE:CNK) last issued its quarterly earnings data on Friday, August 2nd. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.25. The company had revenue of $734.20 million for the quarter, compared to analyst estimates of $691.74 million. Cinemark had a net margin of 5.05% and a return on equity of 41.87%. Cinemark’s revenue was down 22.1% compared to the same quarter last year. During the same period last year, the company posted $0.80 earnings per share. On average, sell-side analysts anticipate that Cinemark will post 1.41 EPS for the current fiscal year.

Insider Buying and Selling at Cinemark

In other Cinemark news, insider Valmir Fernandes sold 25,000 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $27.19, for a total value of $679,750.00. Following the sale, the insider now directly owns 204,729 shares of the company’s stock, valued at approximately $5,566,581.51. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cinemark

Several hedge funds have recently added to or reduced their stakes in the business. Third Point LLC purchased a new stake in Cinemark in the first quarter valued at $89,850,000. Dimensional Fund Advisors LP boosted its holdings in Cinemark by 5.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,914,708 shares of the company’s stock valued at $63,012,000 after purchasing an additional 148,076 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in Cinemark by 1.4% in the second quarter. Victory Capital Management Inc. now owns 2,550,819 shares of the company’s stock valued at $55,149,000 after purchasing an additional 35,993 shares during the last quarter. Steadfast Capital Management LP purchased a new stake in Cinemark in the first quarter valued at $29,323,000. Finally, Hennessy Advisors Inc. raised its position in shares of Cinemark by 18.1% in the second quarter. Hennessy Advisors Inc. now owns 1,530,200 shares of the company’s stock worth $33,083,000 after acquiring an additional 234,400 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.