Cinemark (NYSE:CNK) Given New $31.00 Price Target at JPMorgan Chase & Co.

Cinemark (NYSE:CNK) had its price objective hoisted by JPMorgan Chase & Co. from $29.00 to $31.00 in a report published on Thursday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other research firms also recently issued reports on CNK. Wells Fargo & Company cut their target price on shares of Cinemark from $38.00 to $36.00 and set an “overweight” rating for the company in a research report on Wednesday. Barrington Research upgraded Cinemark from a “market perform” rating to an “outperform” rating and set a $36.00 price objective for the company in a report on Thursday, October 31st. Macquarie boosted their target price on Cinemark from $32.00 to $34.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Morgan Stanley raised their price target on Cinemark from $29.00 to $35.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Finally, Wedbush lowered Cinemark from a “strong-buy” rating to a “hold” rating in a report on Friday, November 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $32.80.

Cinemark Price Performance

Shares of NYSE:CNK opened at $28.80 on Thursday. The company’s fifty day moving average is $31.41 and its two-hundred day moving average is $28.85. The company has a market cap of $3.52 billion, a P/E ratio of 18.58 and a beta of 2.40. Cinemark has a 12-month low of $13.45 and a 12-month high of $36.28. The company has a quick ratio of 0.96, a current ratio of 0.98 and a debt-to-equity ratio of 3.46.

Cinemark (NYSE:CNK) last posted its quarterly earnings results on Thursday, October 31st. The company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.61. The firm had revenue of $921.80 million for the quarter, compared to analyst estimates of $894.90 million. Cinemark had a return on equity of 60.21% and a net margin of 8.36%. Cinemark’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.61 earnings per share. Equities analysts expect that Cinemark will post 2.06 earnings per share for the current fiscal year.

Insider Transactions at Cinemark

In other news, insider Valmir Fernandes sold 25,000 shares of Cinemark stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $32.68, for a total transaction of $817,000.00. Following 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Maverick Capital Ltd. grew its position in Cinemark by 1,356.4% in the third quarter. Maverick Capital Ltd. now owns 1,517,771 shares of the company’s stock valued at $42,255,000 after acquiring an additional 1,413,557 shares during the period. BNP Paribas Financial Markets grew its holdings in shares of Cinemark by 1,532.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 650,227 shares of the company’s stock worth $18,102,000 after purchasing an additional 610,398 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Cinemark during the 3rd quarter worth about $12,133,000. Hennessy Advisors Inc. lifted its holdings in Cinemark by 13.8% during the 4th quarter. Hennessy Advisors Inc. now owns 1,989,300 shares of the company’s stock valued at $61,629,000 after purchasing an additional 241,600 shares during the last quarter. Finally, Castellan Group acquired a new position in Cinemark in the third quarter valued at about $6,130,000.

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.