Cinemark (NYSE:CNK) Price Target Cut to $36.00 by Analysts at Wells Fargo & Company

Cinemark (NYSE:CNK) had its price objective decreased by Wells Fargo & Company from $38.00 to $36.00 in a report released on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price points to a potential upside of 25.02% from the stock’s current price.

A number of other equities analysts have also recently commented on CNK. Morgan Stanley raised their target price on Cinemark from $29.00 to $35.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Macquarie raised their price objective on shares of Cinemark from $32.00 to $34.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Benchmark reaffirmed a “buy” rating and set a $40.00 target price on shares of Cinemark in a research note on Friday, January 10th. StockNews.com raised shares of Cinemark from a “sell” rating to a “hold” rating in a research report on Sunday, November 10th. Finally, Roth Mkm upped their price objective on Cinemark from $30.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $32.80.

Cinemark Price Performance

NYSE:CNK opened at $28.80 on Wednesday. Cinemark has a 52 week low of $13.45 and a 52 week high of $36.28. The stock’s fifty day moving average is $31.41 and its two-hundred day moving average is $28.85. The company has a market capitalization of $3.52 billion, a P/E ratio of 18.58 and a beta of 2.40. The company has a quick ratio of 0.96, a current ratio of 0.98 and a debt-to-equity ratio of 3.46.

Cinemark (NYSE:CNK) last posted its earnings results on Thursday, October 31st. The company reported $1.19 EPS for the quarter, beating 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 company had revenue of $921.80 million for the quarter, compared to analysts’ expectations of $894.90 million. During the same quarter in the prior year, the company posted $0.61 earnings per share. Cinemark’s revenue for the quarter was up 5.4% compared to the same quarter last year. Equities analysts expect that Cinemark will post 2.06 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 on Tuesday, November 12th. The shares were 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 in the company, valued at $5,873,543.72. This trade represents a 12.21 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On Cinemark

A number of large investors have recently modified their holdings of the company. Maverick Capital Ltd. increased its position in shares of Cinemark by 1,356.4% in the third quarter. Maverick Capital Ltd. now owns 1,517,771 shares of the company’s stock worth $42,255,000 after acquiring an additional 1,413,557 shares in the last quarter. BNP Paribas Financial Markets raised its position in Cinemark by 1,532.5% in the third quarter. BNP Paribas Financial Markets now owns 650,227 shares of the company’s stock valued at $18,102,000 after purchasing an additional 610,398 shares during the period. Assenagon Asset Management S.A. acquired a new position in shares of Cinemark during the third quarter worth about $12,133,000. Hennessy Advisors Inc. boosted its position in shares of Cinemark by 13.8% in the fourth quarter. Hennessy Advisors Inc. now owns 1,989,300 shares of the company’s stock worth $61,629,000 after buying an additional 241,600 shares during the period. Finally, Castellan Group acquired a new stake in shares of Cinemark in the third quarter valued at about $6,130,000.

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.