Cinemark (NYSE:CNK) Price Target Raised to $20.00 at The Goldman Sachs Group

Cinemark (NYSE:CNK) had its price target raised by The Goldman Sachs Group from $16.00 to $20.00 in a research note published on Thursday, Benzinga reports. The Goldman Sachs Group currently has a sell rating on the stock.

Several other equities research analysts also recently weighed in on the stock. Benchmark restated a buy rating and issued a $23.00 target price on shares of Cinemark in a research note on Monday, July 1st. JPMorgan Chase & Co. boosted their target price on Cinemark from $22.00 to $25.00 and gave the stock a neutral rating in a research note on Monday, August 5th. Roth Capital upgraded Cinemark from a hold rating to a strong-buy rating in a research note on Monday, June 24th. Morgan Stanley raised their price target on Cinemark from $26.00 to $29.00 and gave the stock an overweight rating in a report on Monday, August 5th. Finally, Barrington Research downgraded shares of Cinemark from an outperform rating to a market perform rating in a report on Wednesday, August 28th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $26.00.

Cinemark Stock Down 0.0 %

Shares of NYSE CNK opened at $28.32 on Thursday. Cinemark has a 12-month low of $13.19 and a 12-month high of $29.07. The stock’s fifty day simple moving average is $25.89 and its two-hundred day simple moving average is $21.10. The stock has a market capitalization of $3.46 billion, a PE ratio of 19.53, a price-to-earnings-growth ratio of 2.12 and a beta of 2.36. 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 (NYSE:CNK) last issued its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $691.74 million. Cinemark had a return on equity of 41.87% and a net margin of 5.05%. The firm’s revenue for the quarter was down 22.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.80 earnings per share. As a group, analysts expect that Cinemark will post 1.33 EPS for the current fiscal year.

Insider Buying and Selling

In other Cinemark news, insider Valmir Fernandes sold 25,000 shares of Cinemark stock in a transaction dated 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 transaction, the insider now owns 204,729 shares in the company, valued at approximately $5,566,581.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. increased its stake in shares of Cinemark by 38.7% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,145 shares of the company’s stock valued at $68,000 after purchasing an additional 877 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new stake in shares of Cinemark in the second quarter valued at approximately $79,000. Fifth Third Bancorp raised its stake in shares of Cinemark by 414.4% during the 2nd quarter. Fifth Third Bancorp now owns 4,480 shares of the company’s stock worth $97,000 after buying an additional 3,609 shares during the period. Point72 DIFC Ltd acquired a new position in shares of Cinemark during the 2nd quarter worth approximately $144,000. Finally, First Dallas Securities Inc. purchased a new position in shares of Cinemark during the 2nd quarter valued at approximately $208,000.

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.