Cinemark (NYSE:CNK) Hits New 1-Year High – Time to Buy?

Shares of Cinemark Holdings, Inc. (NYSE:CNK) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $33.44 and last traded at $33.44, with a volume of 1822268 shares trading hands. The stock had previously closed at $31.99.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. B. Riley lowered Cinemark from a “buy” rating to a “neutral” rating and set a $31.00 target price for the company. in a report on Tuesday, August 27th. 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. Morgan Stanley lifted their target price 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. Wells Fargo & Company upped their price target on shares of Cinemark from $31.00 to $35.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Finally, Barrington Research raised Cinemark from a “market perform” rating to an “outperform” rating and set a $36.00 price objective for the company in a research report on Thursday, October 31st. One equities research 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $30.80.

Cinemark Price Performance

The company has a quick ratio of 0.96, a current ratio of 0.98 and a debt-to-equity ratio of 3.46. The stock’s 50-day moving average price is $29.20 and its 200 day moving average price is $24.46. The firm has a market cap of $3.95 billion, a price-to-earnings ratio of 20.81, a price-to-earnings-growth ratio of 1.68 and a beta of 2.35.

Cinemark (NYSE:CNK) last released its quarterly earnings data on Thursday, October 31st. The company reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.61. Cinemark had a return on equity of 60.21% and a net margin of 8.36%. The business had revenue of $921.80 million for the quarter, compared to analysts’ expectations of $894.90 million. During the same period in the previous year, the business posted $0.61 earnings per share. Cinemark’s quarterly revenue was up 5.4% on a year-over-year basis. Equities research analysts predict that Cinemark Holdings, Inc. will post 2 earnings per share for the current year.

Insider Activity at Cinemark

In other news, insider Valmir Fernandes sold 25,000 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $32.68, for a total transaction of $817,000.00. Following the sale, the insider now owns 179,729 shares in the company, valued at approximately $5,873,543.72. This represents a 12.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Cinemark

Hedge funds have recently added to or reduced their stakes in the stock. Third Point LLC bought a new position in Cinemark in the first quarter valued at about $89,850,000. Dimensional Fund Advisors LP lifted its stake in shares of Cinemark by 5.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,914,708 shares of the company’s stock valued at $63,012,000 after purchasing an additional 148,076 shares during the period. Victory Capital Management Inc. boosted its position in shares of Cinemark by 1.4% in the 2nd quarter. Victory Capital Management Inc. now owns 2,550,819 shares of the company’s stock worth $55,149,000 after purchasing an additional 35,993 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Cinemark by 1.1% during the third quarter. Geode Capital Management LLC now owns 2,449,567 shares of the company’s stock worth $68,209,000 after purchasing an additional 25,857 shares during the period. Finally, Steadfast Capital Management LP bought a new stake in Cinemark in the first quarter valued at about $29,323,000.

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.