Cinemark (NYSE:CNK) Given New $20.00 Price Target at The Goldman Sachs Group

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

A number of other equities research analysts also recently issued reports on the stock. Roth Mkm increased their target price on shares of Cinemark from $28.00 to $30.00 and gave the stock a buy rating in a research report on Monday, August 5th. Barrington Research lowered Cinemark from an outperform rating to a market perform rating in a report on Wednesday, August 28th. Roth Capital upgraded Cinemark from a hold rating to a strong-buy rating in a research note on Monday, June 24th. StockNews.com downgraded Cinemark from a hold rating to a sell rating in a research note on Tuesday, August 13th. Finally, B. Riley lowered Cinemark from a buy rating to a neutral rating and set a $31.00 price target for the company. in a report on Tuesday, August 27th. Two 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 assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $26.00.

Cinemark Trading Down 1.0 %

NYSE:CNK opened at $28.33 on Thursday. Cinemark has a 1 year low of $13.19 and a 1 year high of $29.07. The business has a fifty day moving average of $25.75 and a 200-day moving average of $20.97. The company has a debt-to-equity ratio of 6.23, a quick ratio of 1.26 and a current ratio of 1.29. The stock has a market cap of $3.47 billion, a price-to-earnings ratio of 19.54, a PEG ratio of 2.12 and a beta of 2.36.

Cinemark (NYSE:CNK) last released its earnings results on Friday, August 2nd. The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $691.74 million. During the same period in the prior year, the firm posted $0.80 earnings per share. The firm’s revenue for the quarter was down 22.1% compared to the same quarter last year. Equities analysts predict that Cinemark will post 1.33 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Valmir Fernandes sold 25,000 shares of Cinemark stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $27.19, for a total value of $679,750.00. Following the sale, the insider now owns 204,729 shares of the company’s stock, valued at approximately $5,566,581.51. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. raised its stake in Cinemark by 38.7% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,145 shares of the company’s stock valued at $68,000 after buying an additional 877 shares during the period. 1620 Investment Advisors Inc. acquired a new stake in Cinemark during the 2nd quarter valued at $79,000. Fifth Third Bancorp lifted its holdings in Cinemark by 414.4% during the 2nd quarter. Fifth Third Bancorp now owns 4,480 shares of the company’s stock valued at $97,000 after purchasing an additional 3,609 shares during the last quarter. Point72 DIFC Ltd bought a new position in Cinemark during the second quarter worth $144,000. Finally, Virtu Financial LLC acquired a new position in shares of Cinemark in the fourth quarter valued at $192,000.

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.