Cinemark (NYSE:CNK) Price Target Increased to $31.00 by Analysts at Wells Fargo & Company

Cinemark (NYSE:CNK - Free Report) had its price objective boosted by Wells Fargo & Company from $28.00 to $31.00 in a report released on Thursday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other analysts also recently weighed in on CNK. Barrington Research downgraded Cinemark from an outperform rating to a market perform rating in a research report on Wednesday, August 28th. Morgan Stanley upped their price objective on shares of Cinemark from $26.00 to $29.00 and gave the stock an overweight rating in a research report on Monday, August 5th. B. Riley downgraded shares of Cinemark from a buy rating to a neutral rating and set a $31.00 price objective for the company. in a research note on Tuesday, August 27th. JPMorgan Chase & Co. boosted their target price on shares of Cinemark from $22.00 to $25.00 and gave the stock a neutral rating in a research note on Monday, August 5th. Finally, Roth Mkm increased their price target on Cinemark from $30.00 to $33.00 and gave the company a buy rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $27.10.

Cinemark Price Performance

Shares of NYSE:CNK traded up $1.28 during midday trading on Thursday, hitting $28.63. The stock had a trading volume of 2,887,342 shares, compared to its average volume of 2,888,363. The company's 50-day moving average price is $27.23 and its 200-day moving average price is $21.88. Cinemark has a fifty-two week low of $13.19 and a fifty-two week high of $29.15. The company has a quick ratio of 1.26, a current ratio of 1.29 and a debt-to-equity ratio of 6.23. The company has a market capitalization of $3.50 billion, a P/E ratio of 19.94, a price-to-earnings-growth ratio of 2.07 and a beta of 2.36.

Cinemark (NYSE:CNK - Get Free Report) last announced its quarterly earnings data on Friday, August 2nd. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.07 by $0.25. The business had revenue of $734.20 million during the quarter, compared to the consensus estimate of $691.74 million. Cinemark had a net margin of 5.05% and a return on equity of 41.87%. The company's revenue was down 22.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.80 earnings per share. As a group, equities research analysts predict that Cinemark will post 1.33 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Valmir Fernandes sold 25,000 shares of the business's stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $27.19, for a total value of $679,750.00. Following the transaction, the insider now owns 204,729 shares in the company, valued at approximately $5,566,581.51. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Cinemark

Hedge funds have recently bought and sold shares of the company. Ritholtz Wealth Management bought a new stake in shares of Cinemark in the 3rd quarter valued at $489,000. USA Financial Formulas bought a new position in Cinemark during the 3rd quarter valued at $77,000. CWM LLC grew its position in Cinemark by 134.4% in the 3rd 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. GAMMA Investing LLC increased its position in shares of Cinemark by 106.1% during the third quarter. GAMMA Investing LLC now owns 2,020 shares of the company's stock valued at $56,000 after acquiring an additional 1,040 shares during the last quarter. Finally, Point72 DIFC Ltd purchased a new position in Cinemark in the second quarter worth $144,000.

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.