Cinemark (NYSE:CNK) Price Target Raised to $29.00

Cinemark (NYSE:CNK) had its price objective increased by stock analysts at JPMorgan Chase & Co. from $25.00 to $29.00 in a research note issued on Monday, Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target suggests a potential downside of 1.26% from the stock’s previous close.

Other equities research analysts have also issued reports about the stock. Wedbush raised their price objective on shares of Cinemark from $28.00 to $31.00 and gave the company an “outperform” rating in a report on Tuesday, September 3rd. Barrington Research downgraded Cinemark from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 28th. Roth Mkm boosted their target price on Cinemark from $30.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday. Roth Capital upgraded shares of Cinemark from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 24th. Finally, StockNews.com raised shares of Cinemark from a “sell” rating to a “hold” rating in a research report on Monday, October 7th. One analyst has rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.10.

Cinemark Stock Down 1.0 %

Shares of Cinemark stock traded down $0.31 during trading hours on Monday, reaching $29.37. 311,230 shares of the company were exchanged, compared to its average volume of 2,879,739. The firm has a market cap of $3.59 billion, a PE ratio of 20.28, a PEG ratio of 1.94 and a beta of 2.36. The stock’s fifty day moving average is $27.52 and its 200 day moving average is $22.11. Cinemark has a 1 year low of $13.19 and a 1 year high of $29.87. The company has a debt-to-equity ratio of 6.23, a quick ratio of 1.26 and a current ratio of 1.29.

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

Insider Buying and Selling at Cinemark

In other news, insider Valmir Fernandes sold 25,000 shares of the company’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 transaction of $679,750.00. Following the completion of the sale, the insider now owns 204,729 shares in the company, valued at $5,566,581.51. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC increased its position in Cinemark by 106.1% during the 3rd 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 period. USA Financial Formulas acquired a new position in Cinemark during the third quarter worth $77,000. CWM LLC raised its position in Cinemark by 134.4% in the third quarter. CWM LLC now owns 2,993 shares of the company’s stock worth $83,000 after acquiring an additional 1,716 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its holdings in Cinemark by 38.7% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,145 shares of the company’s stock valued at $68,000 after acquiring an additional 877 shares during the period. Finally, 1620 Investment Advisors Inc. purchased a new stake in shares of Cinemark during the 2nd quarter worth $79,000.

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.