Cinemark (NYSE:CNK) Reaches New 52-Week High – Here’s Why

Cinemark Holdings, Inc. (NYSE:CNK) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $31.14 and last traded at $31.11, with a volume of 456701 shares changing hands. The stock had previously closed at $30.76.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on CNK shares. JPMorgan Chase & Co. upped their target price on shares of Cinemark from $25.00 to $29.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. Wells Fargo & Company raised their price objective on shares of Cinemark from $31.00 to $35.00 and gave the company an “overweight” rating in a report on Friday, November 1st. The Goldman Sachs Group boosted their target price 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. Wedbush downgraded Cinemark from a “strong-buy” rating to a “hold” rating in a report on Friday, November 1st. Finally, Roth Mkm upped their price target on Cinemark from $30.00 to $33.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Two investment analysts have rated the stock with a sell rating, three have given 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, the stock has an average rating of “Moderate Buy” and a consensus price target of $30.80.

Cinemark Price Performance

The company has a debt-to-equity ratio of 3.46, a quick ratio of 0.96 and a current ratio of 0.98. The company has a 50-day simple moving average of $28.36 and a 200-day simple moving average of $23.44. The company has a market cap of $3.86 billion, a price-to-earnings ratio of 19.98, a PEG ratio of 1.64 and a beta of 2.35.

Cinemark (NYSE:CNK) last released its quarterly earnings data 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. The firm had revenue of $921.80 million during the quarter, compared to analysts’ expectations of $894.90 million. Cinemark had a return on equity of 60.21% and a net margin of 8.36%. Cinemark’s revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.61 earnings per share. As a group, research analysts predict that Cinemark Holdings, Inc. will post 1.8 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Valmir Fernandes sold 25,000 shares of Cinemark 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 transaction, the insider now owns 204,729 shares of the company’s stock, valued at $5,566,581.51. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 2.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in CNK. Third Point LLC purchased a new stake in Cinemark during the first quarter worth approximately $89,850,000. Dimensional Fund Advisors LP grew its position 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 acquiring an additional 148,076 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Cinemark by 1.4% during 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 period. Steadfast Capital Management LP acquired a new position in shares of Cinemark during the first quarter worth $29,323,000. Finally, Hennessy Advisors Inc. boosted its stake 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 valued at $33,083,000 after purchasing 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.