Cinemark (NYSE:CNK) Price Target Raised to $38.00 at Wells Fargo & Company

Cinemark (NYSE:CNK) had its price target hoisted by Wells Fargo & Company from $35.00 to $38.00 in a research report report published on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

A number of other equities analysts have also commented on the company. B. Riley lowered Cinemark from a “buy” rating to a “neutral” rating and set a $31.00 price objective on the stock. in a research note on Tuesday, August 27th. JPMorgan Chase & Co. increased their price target on Cinemark from $25.00 to $29.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. The Goldman Sachs Group increased their price target on Cinemark from $16.00 to $20.00 and gave the stock a “sell” rating in a research report on Thursday, September 19th. Wedbush downgraded Cinemark from a “strong-buy” rating to a “hold” rating in a report on Friday, November 1st. Finally, Morgan Stanley upped their price objective on Cinemark from $29.00 to $35.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. One equities research analyst has rated the stock with a sell rating, four 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.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $31.10.

Cinemark Price Performance

NYSE CNK opened at $34.18 on Wednesday. Cinemark has a fifty-two week low of $13.19 and a fifty-two week high of $34.43. The stock’s 50-day moving average is $29.65 and its two-hundred day moving average is $25.01. The company has a debt-to-equity ratio of 3.46, a current ratio of 0.98 and a quick ratio of 0.96. The firm has a market cap of $4.18 billion, a P/E ratio of 22.05, a price-to-earnings-growth ratio of 1.67 and a beta of 2.35.

Cinemark (NYSE:CNK) last posted its 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. Cinemark had a return on equity of 60.21% and a net margin of 8.36%. The company had revenue of $921.80 million for the quarter, compared to analyst estimates of $894.90 million. During the same period last year, the company earned $0.61 earnings per share. The business’s revenue was up 5.4% compared to the same quarter last year. On average, analysts anticipate that Cinemark will post 2 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Valmir Fernandes sold 25,000 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $32.68, for a total value of $817,000.00. Following the transaction, the insider now owns 179,729 shares of the company’s stock, valued at $5,873,543.72. This represents a 12.21 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Quarry LP lifted its stake in shares of Cinemark by 714.8% in the 3rd quarter. Quarry LP now owns 1,491 shares of the company’s stock valued at $42,000 after purchasing an additional 1,308 shares during the period. GAMMA Investing LLC increased its position in shares of Cinemark by 106.1% in the 3rd quarter. GAMMA Investing LLC now owns 2,020 shares of the company’s stock valued at $56,000 after buying an additional 1,040 shares in the last quarter. USA Financial Formulas bought a new stake in shares of Cinemark in the 3rd quarter valued at $77,000. CWM LLC increased its position in shares of Cinemark by 134.4% in the 3rd quarter. CWM LLC now owns 2,993 shares of the company’s stock valued at $83,000 after buying an additional 1,716 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. increased its position in shares of Cinemark by 38.7% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,145 shares of the company’s stock valued at $68,000 after buying an additional 877 shares in the last quarter.

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.