Cinemark (NYSE:CNK) Price Target Raised to $35.00 at Wells Fargo & Company

Cinemark (NYSE:CNK) had its price target upped by Wells Fargo & Company from $31.00 to $35.00 in a report released on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective indicates a potential upside of 17.25% from the company’s previous close.

A number of other research firms have also recently issued reports on CNK. JPMorgan Chase & Co. lifted their target price on shares of Cinemark from $25.00 to $29.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Roth Mkm lifted their target price on shares of Cinemark from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Wedbush lifted their target price on shares of Cinemark from $31.00 to $32.00 and gave the company an “outperform” rating in a research note on Tuesday. Barrington Research upgraded shares of Cinemark from a “market perform” rating to an “outperform” rating and set a $36.00 target price for the company in a research note on Thursday. Finally, StockNews.com cut shares of Cinemark from a “hold” rating to a “sell” rating in a research note on Thursday, October 24th. Two research analysts have rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Cinemark presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.80.

Cinemark Stock Up 0.3 %

Shares of CNK stock traded up $0.10 during trading on Friday, hitting $29.85. 3,202,987 shares of the company were exchanged, compared to its average volume of 2,863,307. The company has a debt-to-equity ratio of 6.23, a quick ratio of 1.26 and a current ratio of 1.29. The firm has a market capitalization of $3.65 billion, a price-to-earnings ratio of 30.77, a P/E/G ratio of 2.07 and a beta of 2.36. The business’s 50-day simple moving average is $28.20 and its 200 day simple moving average is $23.07. Cinemark has a twelve month low of $13.19 and a twelve month high of $31.09.

Cinemark (NYSE:CNK) last posted its quarterly earnings results on Thursday, October 31st. The company reported $1.19 EPS for the quarter, topping the consensus estimate of $0.58 by $0.61. The business had revenue of $921.80 million during the quarter, compared to analysts’ expectations of $894.90 million. Cinemark had a net margin of 5.05% and a return on equity of 41.87%. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period last year, the company posted $0.61 earnings per share. As a group, analysts forecast that Cinemark will post 1.47 EPS for the current fiscal year.

Insider Transactions at Cinemark

In other news, insider Valmir Fernandes sold 25,000 shares of the business’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 completion of the sale, the insider now directly owns 204,729 shares in the company, valued at approximately $5,566,581.51. The trade was a 0.00 % 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.

Hedge Funds Weigh In On Cinemark

Institutional investors and hedge funds have recently bought and sold shares of the stock. 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. 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. USA Financial Formulas bought a new position in Cinemark during the third quarter worth $77,000. 1620 Investment Advisors Inc. bought a new position in Cinemark during the second quarter worth $79,000. Finally, 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.

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.