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

Cinemark (NYSE:CNK) had its price objective lifted by Wedbush from $31.00 to $32.00 in a research report sent to investors on Tuesday morning, Benzinga reports. Wedbush currently has an outperform rating on the stock. Wedbush also issued estimates for Cinemark’s Q3 2024 earnings at $0.58 EPS, Q4 2024 earnings at $0.45 EPS, FY2024 earnings at $1.50 EPS, Q1 2025 earnings at $0.01 EPS, Q2 2025 earnings at $0.43 EPS, Q3 2025 earnings at $0.65 EPS, Q4 2025 earnings at $0.69 EPS, FY2025 earnings at $1.78 EPS and FY2026 earnings at $2.08 EPS.

CNK has been the subject of several other research reports. B. Riley downgraded shares of Cinemark from a “buy” rating to a “neutral” rating and set a $31.00 price objective for the company. in a report on Tuesday, August 27th. Barrington Research cut Cinemark from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 28th. Macquarie raised their target price on shares of Cinemark from $21.00 to $24.00 and gave the company an “outperform” rating in a report on Tuesday, July 9th. The Goldman Sachs Group boosted their price objective on shares of Cinemark from $16.00 to $20.00 and gave the company a “sell” rating in a research report on Thursday, September 19th. Finally, StockNews.com cut shares of Cinemark from a “hold” rating to a “sell” rating in a research note on Thursday, October 24th. Two analysts have rated the stock with a sell rating, two have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $29.40.

Cinemark Stock Performance

Shares of NYSE CNK opened at $29.78 on Tuesday. The company has a current ratio of 1.29, a quick ratio of 1.26 and a debt-to-equity ratio of 6.23. Cinemark has a 12-month low of $13.19 and a 12-month high of $31.09. The firm has a market capitalization of $3.64 billion, a price-to-earnings ratio of 30.70, a price-to-earnings-growth ratio of 2.07 and a beta of 2.36. The firm has a 50 day moving average of $28.20 and a 200 day moving average of $23.07.

Cinemark (NYSE:CNK) last released its quarterly earnings data 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. The firm had revenue of $734.20 million for the quarter, compared to analysts’ expectations of $691.74 million. Cinemark had a net margin of 5.05% and a return on equity of 41.87%. The company’s revenue for the quarter was down 22.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.80 earnings per share. On average, research analysts anticipate that Cinemark will post 1.47 earnings per share for the current year.

Insider Activity

In related news, insider Valmir Fernandes sold 25,000 shares of the company’s stock in a transaction 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 directly owns 204,729 shares in the company, valued at $5,566,581.51. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On Cinemark

Several institutional investors have recently bought and sold shares of CNK. Sei Investments Co. lifted its holdings in shares of Cinemark by 38.1% during the 1st quarter. Sei Investments Co. now owns 115,124 shares of the company’s stock valued at $2,069,000 after purchasing an additional 31,739 shares during the last quarter. PEAK6 Investments LLC acquired a new stake in shares of Cinemark during the first quarter worth $2,274,000. Barrow Hanley Mewhinney & Strauss LLC grew its stake in Cinemark by 18.1% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 676,652 shares of the company’s stock valued at $14,629,000 after purchasing an additional 103,875 shares during the last quarter. US Bancorp DE lifted its holdings in shares of Cinemark by 68.8% during the first quarter. US Bancorp DE now owns 34,846 shares of the company’s stock worth $626,000 after purchasing an additional 14,200 shares during the period. Finally, Maverick Capital Ltd. acquired a new position in Cinemark in the 2nd quarter worth approximately $2,253,000.

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.