Cinemark (NYSE:CNK) PT Raised to $35.00 at Morgan Stanley

Cinemark (NYSE:CNK - Free Report) had its target price increased by Morgan Stanley from $29.00 to $35.00 in a research report sent to investors on Friday, Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities analysts have also issued reports on CNK. Roth Capital upgraded Cinemark from a hold rating to a strong-buy rating in a research note on Monday, June 24th. Macquarie raised their price objective on Cinemark from $21.00 to $24.00 and gave the stock an outperform rating in a research note on Tuesday, July 9th. StockNews.com upgraded Cinemark from a sell rating to a hold rating in a research report on Monday. Benchmark reissued a buy rating and set a $23.00 price target on shares of Cinemark in a research report on Monday, July 1st. Finally, B. Riley downgraded shares of Cinemark from a buy rating to a neutral rating and set a $31.00 price objective on the stock. in a report on Tuesday, August 27th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $27.70.

Cinemark Stock Up 3.7 %

NYSE CNK traded up $1.05 during trading on Friday, hitting $29.68. The company's stock had a trading volume of 3,757,778 shares, compared to its average volume of 2,892,777. Cinemark has a fifty-two week low of $13.19 and a fifty-two week high of $29.87. The company has a market cap of $3.63 billion, a PE ratio of 30.60, a P/E/G ratio of 1.94 and a beta of 2.36. 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 business's 50 day simple moving average is $27.42 and its 200-day simple moving average is $21.97.

Cinemark (NYSE:CNK - Get Free Report) last released its earnings results on Friday, August 2nd. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.25. The company had revenue of $734.20 million for 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%. Cinemark's revenue was down 22.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.80 EPS. On average, equities analysts anticipate that Cinemark will post 1.41 EPS for the current fiscal year.

Insider Transactions at Cinemark

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 stock was sold at an average price of $27.19, for a total value of $679,750.00. Following the completion of the sale, the insider now directly owns 204,729 shares in the company, valued at $5,566,581.51. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.30% of the company's stock.

Institutional Trading of Cinemark

Several institutional investors have recently modified their holdings of CNK. Virtu Financial LLC acquired a new stake in Cinemark in the 4th quarter worth about $192,000. Hennessy Advisors Inc. boosted its stake in shares of Cinemark by 14.1% in the first quarter. Hennessy Advisors Inc. now owns 1,295,800 shares of the company's stock worth $23,286,000 after acquiring an additional 160,200 shares during the last quarter. Commonwealth Equity Services LLC increased its position in shares of Cinemark by 7.7% during the first quarter. Commonwealth Equity Services LLC now owns 369,205 shares of the company's stock worth $6,635,000 after purchasing an additional 26,335 shares in the last quarter. Easterly Investment Partners LLC increased its position in shares of Cinemark by 1.1% during the first quarter. Easterly Investment Partners LLC now owns 491,903 shares of the company's stock worth $8,839,000 after purchasing an additional 5,236 shares in the last quarter. Finally, Texas Permanent School Fund Corp raised its stake in Cinemark by 1.5% in the 1st quarter. Texas Permanent School Fund Corp now owns 92,591 shares of the company's stock valued at $1,664,000 after purchasing an additional 1,345 shares during the last quarter.

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.