Cinemark (NYSE:CNK) Given New $34.00 Price Target at Macquarie

Cinemark (NYSE:CNK) had its price target boosted by Macquarie from $32.00 to $34.00 in a research report released on Friday, Benzinga reports. Macquarie currently has an outperform rating on the stock.

A number of other brokerages have also weighed in on CNK. Wells Fargo & Company upped their price objective on Cinemark from $28.00 to $31.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. StockNews.com cut shares of Cinemark from a “hold” rating to a “sell” rating in a research note on Thursday, October 24th. Morgan Stanley raised their price objective on shares of Cinemark from $29.00 to $35.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Wedbush upped their target price on shares of Cinemark from $31.00 to $32.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, Barrington Research raised Cinemark from a “market perform” rating to an “outperform” rating and set a $36.00 price target on the stock in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $30.80.

Cinemark Stock Performance

Shares of Cinemark stock traded up $0.10 during trading hours on Friday, hitting $29.85. 3,262,820 shares of the company were exchanged, compared to its average volume of 2,863,309. The business has a 50-day moving average of $28.24 and a 200-day moving average of $23.16. Cinemark has a 1 year low of $13.19 and a 1 year high of $31.09. The company has a current ratio of 1.29, a quick ratio of 1.26 and a debt-to-equity ratio of 6.23. The stock 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.

Cinemark (NYSE:CNK) last released its 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. Cinemark had a net margin of 5.05% and a return on equity of 41.87%. The company had revenue of $921.80 million during the quarter, compared to analysts’ expectations of $894.90 million. During the same quarter last year, the business earned $0.61 EPS. The business’s revenue was up 5.4% on a year-over-year basis. As a group, analysts expect that Cinemark will post 1.47 EPS for the current fiscal year.

Insider Activity at Cinemark

In related news, insider Valmir Fernandes sold 25,000 shares of the business’s stock in a transaction dated 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 transaction, the insider now owns 204,729 shares of the company’s stock, valued at approximately $5,566,581.51. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On Cinemark

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. 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 purchasing an additional 1,040 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. grew its stake in shares of Cinemark by 38.7% during 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 during the period. USA Financial Formulas purchased a new position in shares of Cinemark in the 3rd quarter worth $77,000. 1620 Investment Advisors Inc. acquired a new position in Cinemark in the second quarter valued at $79,000. Finally, CWM LLC grew its position in Cinemark by 134.4% during the third quarter. CWM LLC now owns 2,993 shares of the company’s stock valued at $83,000 after acquiring an additional 1,716 shares during the period.

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.