Cinemark (NYSE:CNK) Reaches New 12-Month High After Analyst Upgrade

Cinemark Holdings, Inc. (NYSE:CNKGet Free Report) shares reached a new 52-week high during trading on Tuesday after Wedbush raised their price target on the stock from $31.00 to $32.00. Wedbush currently has an outperform rating on the stock. Cinemark traded as high as $29.91 and last traded at $29.80, with a volume of 597739 shares. The stock had previously closed at $29.37.

Other equities research analysts have also recently issued research reports about the company. Roth Mkm increased their price objective on Cinemark from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Wells Fargo & Company raised their price target on Cinemark from $28.00 to $31.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. The Goldman Sachs Group lifted their price target on shares of Cinemark from $16.00 to $20.00 and gave the company a “sell” rating in a report on Thursday, September 19th. Benchmark restated a “buy” rating and issued a $23.00 price objective on shares of Cinemark in a report on Monday, July 1st. Finally, B. Riley lowered shares of Cinemark from a “buy” rating to a “neutral” rating and set a $31.00 target price on the stock. in a research note on Tuesday, August 27th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Cinemark presently has an average rating of “Moderate Buy” and a consensus price target of $28.20.

View Our Latest Stock Report on CNK

Insider Transactions at Cinemark

In other Cinemark news, insider Valmir Fernandes sold 25,000 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were 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 approximately $5,566,581.51. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.30% of the company’s stock.

Institutional Trading of Cinemark

A number of institutional investors and hedge funds have recently modified their holdings of the business. Arizona State Retirement System boosted its position in shares of 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 during the last quarter. CANADA LIFE ASSURANCE Co boosted its holdings in shares of Cinemark by 0.5% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 122,908 shares of the company’s stock valued at $2,209,000 after acquiring an additional 612 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. grew its stake in shares of Cinemark by 38.7% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,145 shares of the company’s stock worth $68,000 after acquiring an additional 877 shares during the period. GAMMA Investing LLC grew its stake in shares of Cinemark by 106.1% in the third quarter. GAMMA Investing LLC now owns 2,020 shares of the company’s stock worth $56,000 after acquiring an additional 1,040 shares during the period. Finally, QRG Capital Management Inc. raised its holdings in shares of 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 Trading Up 1.4 %

The company has a debt-to-equity ratio of 6.23, a current ratio of 1.29 and a quick ratio of 1.26. The stock’s 50-day moving average is $28.04 and its two-hundred day moving average is $22.89. The company has a market cap of $3.64 billion, a P/E ratio of 20.52, a P/E/G ratio of 1.94 and a beta of 2.36.

Cinemark (NYSE:CNKGet Free Report) last released its quarterly earnings results on Friday, August 2nd. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.25. Cinemark had a return on equity of 41.87% and a net margin of 5.05%. The firm had revenue of $734.20 million for the quarter, compared to analysts’ expectations of $691.74 million. During the same period in the prior year, the firm earned $0.80 EPS. The company’s revenue was down 22.1% compared to the same quarter last year. As a group, equities research analysts predict that Cinemark Holdings, Inc. will post 1.41 earnings per share for the current fiscal year.

About Cinemark

(Get Free Report)

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.

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