Cinemark (NYSE:CNK) Price Target Increased to $25.00 by Analysts at JPMorgan Chase & Co.

Cinemark (NYSE:CNK) had its target price hoisted by JPMorgan Chase & Co. from $22.00 to $25.00 in a research report sent to investors on Monday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other equities analysts have also recently issued reports on the stock. B. Riley upgraded shares of Cinemark from a neutral rating to a buy rating and upped their price target for the company from $16.00 to $27.00 in a research report on Monday, July 8th. Roth Mkm upgraded shares of Cinemark from a neutral rating to a buy rating and upped their price target for the company from $19.00 to $26.00 in a research report on Monday, June 24th. Roth Capital upgraded shares of Cinemark from a hold rating to a strong-buy rating in a research report on Monday, June 24th. Benchmark restated a buy rating and issued a $23.00 price target on shares of Cinemark in a research report on Monday, July 1st. Finally, Wedbush restated an outperform rating and issued a $25.00 price target on shares of Cinemark in a research report on Monday, July 29th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $24.60.

Cinemark Price Performance

CNK stock traded up $0.78 during trading on Monday, reaching $26.20. 4,568,009 shares of the company were exchanged, compared to its average volume of 3,089,784. The company has a 50-day moving average of $20.33 and a two-hundred day moving average of $18.20. The company has a market capitalization of $3.21 billion, a price-to-earnings ratio of 18.07, a P/E/G ratio of 2.14 and a beta of 2.36. Cinemark has a twelve month low of $13.19 and a twelve month high of $26.43. The company has a debt-to-equity ratio of 7.42, a current ratio of 1.48 and a quick ratio of 1.45.

Cinemark (NYSE:CNK) last released its quarterly earnings data on Friday, August 2nd. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.25. Cinemark had a net margin of 7.12% and a return on equity of 69.48%. The business had revenue of $734.20 million during the quarter, compared to analysts’ expectations of $691.74 million. During the same period in the prior year, the company earned $0.80 EPS. The firm’s quarterly revenue was down 22.1% compared to the same quarter last year. As a group, equities analysts predict that Cinemark will post 1.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Third Point LLC bought a new position in Cinemark during the first quarter worth $89,850,000. Dimensional Fund Advisors LP boosted its stake in Cinemark by 9.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,568,871 shares of the company’s stock worth $36,195,000 after acquiring an additional 213,593 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Cinemark by 1.4% during the second quarter. Victory Capital Management Inc. now owns 2,550,819 shares of the company’s stock worth $55,149,000 after acquiring an additional 35,993 shares in the last quarter. Steadfast Capital Management LP acquired a new position in Cinemark during the first quarter worth $29,323,000. Finally, Hennessy Advisors Inc. raised its holdings in Cinemark by 18.1% during the second quarter. Hennessy Advisors Inc. now owns 1,530,200 shares of the company’s stock worth $33,083,000 after buying an additional 234,400 shares during the last quarter.

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.