Cinemark (NYSE:CNK) Given New $35.00 Price Target at Wells Fargo & Company

Cinemark (NYSE:CNK) had its price objective boosted by Wells Fargo & Company from $31.00 to $35.00 in a research note released on Friday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

Other equities research analysts have also recently issued 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. Barrington Research raised shares of Cinemark from a “market perform” rating to an “outperform” rating and set a $36.00 target price for the company in a research note on Thursday, October 31st. JPMorgan Chase & Co. upped their price target on Cinemark from $25.00 to $29.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. StockNews.com downgraded Cinemark from a “hold” rating to a “sell” rating in a report on Thursday, October 24th. Finally, Macquarie lifted their price target on Cinemark from $32.00 to $34.00 and gave the stock an “outperform” rating in a research report on Friday. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $30.80.

Cinemark Trading Down 0.9 %

Shares of CNK stock opened at $29.57 on Friday. The company has a debt-to-equity ratio of 4.11, a current ratio of 1.29 and a quick ratio of 1.26. Cinemark has a 1-year low of $13.19 and a 1-year high of $31.09. The business has a 50-day moving average of $28.26 and a 200 day moving average of $23.31. The stock has a market capitalization of $3.62 billion, a PE ratio of 19.08, a P/E/G ratio of 2.02 and a beta of 2.35.

Cinemark (NYSE:CNK) last posted its earnings results on Thursday, October 31st. The company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.61. Cinemark had a return on equity of 60.21% and a net margin of 8.36%. The company had revenue of $921.80 million for the quarter, compared to analysts’ expectations of $894.90 million. During the same period last year, the firm earned $0.61 earnings per share. Cinemark’s quarterly revenue was up 5.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Cinemark will post 1.47 earnings per share for the current year.

Insiders Place Their Bets

In other Cinemark news, insider Valmir Fernandes sold 25,000 shares of the business’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 owns 204,729 shares of the company’s stock, valued at approximately $5,566,581.51. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Sei Investments Co. boosted its stake in Cinemark by 38.1% in the 1st quarter. Sei Investments Co. now owns 115,124 shares of the company’s stock worth $2,069,000 after purchasing an additional 31,739 shares during the period. PEAK6 Investments LLC purchased a new position in Cinemark during the first quarter valued at $2,274,000. Barrow Hanley Mewhinney & Strauss LLC grew its stake in Cinemark by 18.1% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 676,652 shares of the company’s stock valued at $14,629,000 after acquiring an additional 103,875 shares in the last quarter. US Bancorp DE increased its holdings in Cinemark by 68.8% in the 1st quarter. US Bancorp DE now owns 34,846 shares of the company’s stock valued at $626,000 after acquiring an additional 14,200 shares during the last quarter. Finally, Maverick Capital Ltd. purchased a new stake in Cinemark in the 2nd quarter worth $2,253,000.

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.