Cinemark (NYSE:CNK) PT Raised to $31.00

Cinemark (NYSE:CNK) had its price target hoisted by Wells Fargo & Company from $28.00 to $31.00 in a research report sent to investors on Thursday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other equities research analysts have also commented on CNK. Roth Mkm raised their price target on shares of Cinemark from $30.00 to $33.00 and gave the company a buy rating in a research note on Thursday. Morgan Stanley lifted their target price on Cinemark from $26.00 to $29.00 and gave the company an overweight rating in a research note on Monday, August 5th. Benchmark reissued a buy rating and issued a $23.00 price target on shares of Cinemark in a research note on Monday, July 1st. StockNews.com raised Cinemark from a sell rating to a hold rating in a report on Monday, October 7th. Finally, Wedbush increased their target price on shares of Cinemark from $28.00 to $31.00 and gave the company an outperform rating in a research report on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $27.70.

Cinemark Trading Up 3.7 %

NYSE:CNK opened at $29.68 on Thursday. The firm has a market capitalization of $3.63 billion, a P/E ratio of 20.47, a P/E/G ratio of 1.94 and a beta of 2.36. The business has a 50 day simple moving average of $27.52 and a 200 day simple moving average of $22.05. The company has a debt-to-equity ratio of 6.23, a current ratio of 1.29 and a quick ratio of 1.26. Cinemark has a 12-month low of $13.19 and a 12-month high of $29.87.

Cinemark (NYSE:CNK) last announced its quarterly earnings results on Friday, August 2nd. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.25. Cinemark had a net margin of 5.05% and a return on equity of 41.87%. The company had revenue of $734.20 million during the quarter, compared to the consensus estimate of $691.74 million. During the same quarter in the previous year, the company posted $0.80 earnings per share. The company’s revenue for the quarter was down 22.1% compared to the same quarter last year. Equities research analysts predict that Cinemark will post 1.41 EPS for the current year.

Insider Activity at Cinemark

In other Cinemark news, insider Valmir Fernandes sold 25,000 shares of Cinemark stock in a transaction that occurred 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 transaction, the insider now 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On Cinemark

Several large investors have recently modified their holdings of CNK. GAMMA Investing LLC lifted its stake in Cinemark by 106.1% during the third 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. Point72 Asia Singapore Pte. Ltd. boosted its stake in Cinemark by 38.7% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,145 shares of the company’s stock worth $68,000 after purchasing an additional 877 shares during the period. USA Financial Formulas purchased a new position in Cinemark during the 3rd quarter worth approximately $77,000. 1620 Investment Advisors Inc. acquired a new stake in Cinemark during the 2nd quarter valued at $79,000. Finally, CWM LLC lifted its holdings in shares of Cinemark by 134.4% in the third quarter. CWM LLC now owns 2,993 shares of the company’s stock valued at $83,000 after purchasing an additional 1,716 shares in 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.