Cinemark (NYSE:CNK) Price Target Raised to $32.00 at Wedbush

Cinemark (NYSE:CNK) had its target price boosted by Wedbush from $31.00 to $32.00 in a research report sent to investors on Tuesday, Benzinga reports. The firm currently has an outperform rating on the stock.

Several other research analysts have also recently issued reports on CNK. B. Riley cut Cinemark from a “buy” rating to a “neutral” rating and set a $31.00 price target on the stock. in a report on Tuesday, August 27th. Barrington Research lowered Cinemark from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 28th. Morgan Stanley boosted 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. StockNews.com cut shares of Cinemark from a “hold” rating to a “sell” rating in a report on Thursday, October 24th. Finally, Benchmark restated a “buy” rating and set a $23.00 price target on shares of Cinemark in a report on Monday, July 1st. Two analysts have rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.20.

Cinemark Stock Up 1.0 %

CNK opened at $29.67 on Tuesday. The company has a debt-to-equity ratio of 6.23, a quick ratio of 1.26 and a current ratio of 1.29. The company has a market capitalization of $3.63 billion, a PE ratio of 20.54, a P/E/G ratio of 1.94 and a beta of 2.36. The stock’s fifty day moving average is $28.04 and its 200-day moving average is $22.89. Cinemark has a one year low of $13.19 and a one year high of $30.10.

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

Insiders Place Their Bets

In related news, insider Valmir Fernandes sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $27.19, for a total value of $679,750.00. Following the completion of the sale, 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 filing with the SEC, which can be accessed through this link. Insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On Cinemark

Several institutional investors and hedge funds have recently modified their holdings of CNK. Arizona State Retirement System raised its holdings in Cinemark by 1.8% during the second quarter. Arizona State Retirement System now owns 30,636 shares of the company’s stock valued at $662,000 after buying an additional 556 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its holdings in Cinemark by 0.5% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 122,908 shares of the company’s stock worth $2,209,000 after purchasing an additional 612 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its position in Cinemark by 38.7% during the second 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. GAMMA Investing LLC grew its holdings 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 purchasing an additional 1,040 shares during the last quarter. Finally, QRG Capital Management Inc. grew its holdings in Cinemark by 5.9% during the second quarter. QRG Capital Management Inc. now owns 20,557 shares of the company’s stock valued at $444,000 after purchasing an additional 1,148 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.