JPMorgan Chase & Co. Increases Cinemark (NYSE:CNK) Price Target to $29.00

Cinemark (NYSE:CNK - Get Free Report) had its target price boosted by analysts at JPMorgan Chase & Co. from $25.00 to $29.00 in a report issued on Monday, Benzinga reports. The brokerage presently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s target price suggests a potential downside of 0.31% from the company's current price.

CNK has been the subject of a number of other research reports. B. Riley lowered shares of Cinemark from a "buy" rating to a "neutral" rating and set a $31.00 price objective for the company. in a research report on Tuesday, August 27th. Macquarie boosted their price objective on shares of Cinemark from $21.00 to $24.00 and gave the company an "outperform" rating in a research report on Tuesday, July 9th. Roth Mkm boosted their price objective on shares of Cinemark from $30.00 to $33.00 and gave the company a "buy" rating in a research report on Thursday. Barrington Research lowered shares of Cinemark from an "outperform" rating to a "market perform" rating in a research report on Wednesday, August 28th. Finally, The Goldman Sachs Group boosted their price objective on shares of Cinemark from $16.00 to $20.00 and gave the company a "sell" rating in a research report on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Cinemark has an average rating of "Moderate Buy" and an average price target of $28.10.

Cinemark Price Performance

CNK traded down $0.59 during midday trading on Monday, reaching $29.09. 2,467,692 shares of the company's stock were exchanged, compared to its average volume of 2,890,630. 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 stock has a market capitalization of $3.56 billion, a PE ratio of 20.06, a P/E/G ratio of 1.94 and a beta of 2.36. The business's 50-day moving average price is $27.52 and its 200 day moving average price is $22.11. Cinemark has a 1-year low of $13.19 and a 1-year high of $29.87.

Cinemark (NYSE:CNK - Get Free Report) last announced its earnings results on Friday, August 2nd. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.07 by $0.25. The company had revenue of $734.20 million during the quarter, compared to analysts' expectations of $691.74 million. Cinemark had a net margin of 5.05% and a return on equity of 41.87%. The firm's quarterly revenue was down 22.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.80 earnings per share. As a group, equities analysts anticipate that Cinemark will post 1.41 EPS for the current fiscal year.

Insider Activity at Cinemark

In related news, insider Valmir Fernandes sold 25,000 shares of the company's stock in a transaction 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 sale, the insider now directly owns 204,729 shares of the company's stock, valued at $5,566,581.51. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 2.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Cinemark

Several institutional investors have recently added to or reduced their stakes in CNK. GAMMA Investing LLC raised its holdings in shares of Cinemark by 106.1% during the third 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 period. Point72 Asia Singapore Pte. Ltd. raised its holdings in shares of 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 purchasing an additional 877 shares during the period. USA Financial Formulas acquired a new stake in shares of Cinemark during the third quarter worth $77,000. 1620 Investment Advisors Inc. acquired a new stake in shares of Cinemark during the second quarter worth $79,000. Finally, CWM LLC raised its holdings in shares of Cinemark by 134.4% during 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 during the period.

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.