Wells Fargo & Company Issues Positive Forecast for Cinemark (NYSE:CNK) Stock Price

Cinemark (NYSE:CNK) had its target price lifted by equities research analysts at Wells Fargo & Company from $35.00 to $38.00 in a report released on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential upside of 12.73% from the company’s current price.

CNK has been the topic of several other reports. Wedbush lowered shares of Cinemark from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. boosted their price objective 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. Macquarie boosted their price objective on shares of Cinemark from $32.00 to $34.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Barrington Research upgraded 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 note on Thursday, October 31st. Finally, Roth Mkm lifted their target price on shares of Cinemark from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. One analyst has rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Cinemark has an average rating of “Moderate Buy” and a consensus price target of $31.10.

Cinemark Trading Up 2.6 %

Shares of NYSE CNK traded up $0.87 during midday trading on Wednesday, reaching $33.71. 714,004 shares of the stock were exchanged, compared to its average volume of 2,849,576. The business has a 50-day simple moving average of $29.54 and a two-hundred day simple moving average of $24.95. The company has a market capitalization of $4.12 billion, a price-to-earnings ratio of 21.75, a P/E/G ratio of 1.67 and a beta of 2.35. Cinemark has a 12 month low of $13.19 and a 12 month high of $34.26. 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 (NYSE:CNK) last issued its quarterly earnings data on Thursday, October 31st. The company reported $1.19 EPS for the quarter, topping 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 business had revenue of $921.80 million for the quarter, compared to analyst estimates of $894.90 million. During the same period last year, the business posted $0.61 earnings per share. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. As a group, equities research analysts expect that Cinemark will post 2 EPS for the current year.

Insider Buying and Selling at Cinemark

In related news, insider Valmir Fernandes sold 25,000 shares of the business’s 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 transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.30% of the company’s stock.

Institutional Trading of Cinemark

Several hedge funds have recently added to or reduced their stakes in CNK. Quarry LP raised its position in Cinemark by 714.8% in the third quarter. Quarry LP now owns 1,491 shares of the company’s stock worth $42,000 after acquiring an additional 1,308 shares during the period. GAMMA Investing LLC raised its position in Cinemark by 106.1% in 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. raised its position in Cinemark by 38.7% in 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 stake in Cinemark in the third quarter worth about $77,000. Finally, 1620 Investment Advisors Inc. bought a new stake in shares of Cinemark in the second quarter valued at approximately $79,000.

About Cinemark

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.