Cinemark (NYSE:CNK) Stock Price Expected to Rise, Macquarie Analyst Says

Cinemark (NYSE:CNK) had its price target increased by Macquarie from $32.00 to $34.00 in a report released on Friday morning, Benzinga reports. They currently have an outperform rating on the stock.

Other equities analysts have also recently issued research reports about the company. B. Riley cut Cinemark from a “buy” rating to a “neutral” rating and set a $31.00 price target on the stock. in a research note on Tuesday, August 27th. Morgan Stanley boosted their price target on shares of Cinemark from $29.00 to $35.00 and gave the company an “overweight” rating in a report on Friday, October 11th. The Goldman Sachs Group raised their price objective on shares of Cinemark from $16.00 to $20.00 and gave the stock a “sell” rating in a research note on Thursday, September 19th. Barrington Research raised shares of Cinemark from a “market perform” rating to an “outperform” rating and set a $36.00 target price on the stock in a research note on Thursday. Finally, JPMorgan Chase & Co. increased their target price on Cinemark from $25.00 to $29.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Cinemark presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.80.

Cinemark Stock Up 0.3 %

CNK stock opened at $29.85 on Friday. The firm has a market cap of $3.65 billion, a PE ratio of 19.26, a P/E/G ratio of 2.02 and a beta of 2.35. Cinemark has a 12 month low of $13.19 and a 12 month high of $31.09. The company has a debt-to-equity ratio of 4.11, a current ratio of 1.29 and a quick ratio of 1.26. The firm has a 50 day simple moving average of $28.24 and a 200 day simple moving average of $23.23.

Cinemark (NYSE:CNK) last announced its quarterly earnings data on Thursday, October 31st. The company reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.61. The company had revenue of $921.80 million during the quarter, compared to the consensus estimate of $894.90 million. Cinemark had a return on equity of 60.21% and a net margin of 8.36%. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.61 EPS. Equities research analysts forecast that Cinemark will post 1.47 earnings per share for the current fiscal year.

Insider Buying and Selling at Cinemark

In other news, insider Valmir Fernandes sold 25,000 shares of the firm’s 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 sale, the insider now directly owns 204,729 shares of the company’s stock, valued at $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 is available at this hyperlink. Corporate insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On Cinemark

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC increased its stake in shares of 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 last quarter. USA Financial Formulas bought a new stake in Cinemark in the third quarter worth $77,000. CWM LLC boosted its holdings 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 purchasing an additional 1,716 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. increased its position in Cinemark by 38.7% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,145 shares of the company’s stock worth $68,000 after buying an additional 877 shares during the last quarter. Finally, 1620 Investment Advisors Inc. bought a new position in Cinemark during the second quarter valued at about $79,000.

Cinemark Company Profile

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.