Cinemark (NYSE:CNK) PT Raised to $32.00 at Wedbush

Cinemark (NYSE:CNK - Get Free Report) had its price target raised by research analysts at Wedbush from $31.00 to $32.00 in a research note issued on Tuesday, Benzinga reports. The firm presently has an "outperform" rating on the stock. Wedbush's price objective would suggest a potential upside of 7.87% from the stock's current price.

Several other research firms have also weighed in on CNK. Benchmark restated a "buy" rating and set a $23.00 price target on shares of Cinemark in a research report on Monday, July 1st. Macquarie increased their price target 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. StockNews.com lowered shares of Cinemark from a "hold" rating to a "sell" rating in a research report on Thursday, October 24th. The Goldman Sachs Group increased their price target 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. Finally, Morgan Stanley increased their price target on shares of Cinemark from $29.00 to $35.00 and gave the company an "overweight" rating in a research report on Friday, October 11th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $28.20.

Cinemark Stock Up 1.0 %

Shares of NYSE CNK traded up $0.29 during trading on Tuesday, hitting $29.67. The stock had a trading volume of 3,301,102 shares, compared to its average volume of 2,851,698. Cinemark has a 12 month low of $13.19 and a 12 month high of $30.10. 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 company has a market capitalization of $3.63 billion, a PE ratio of 20.54, a PEG ratio of 1.94 and a beta of 2.36. The firm has a fifty day moving average of $28.04 and a two-hundred day moving average of $22.89.

Cinemark (NYSE:CNK - Get Free Report) last posted its earnings results on Friday, August 2nd. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.25. Cinemark had a net margin of 5.05% and a return on equity of 41.87%. The firm had revenue of $734.20 million during the quarter, compared to analyst estimates of $691.74 million. During the same quarter in the prior year, the business posted $0.80 EPS. The business's revenue was down 22.1% compared to the same quarter last year. As a group, equities research analysts forecast 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 stock in a transaction dated 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 approximately $5,566,581.51. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 2.30% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC increased its position in shares of Cinemark by 106.1% in 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 last quarter. USA Financial Formulas bought a new position in shares of Cinemark in the third quarter worth approximately $77,000. CWM LLC increased its position in shares of Cinemark by 134.4% in 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 last quarter. Point72 Asia Singapore Pte. Ltd. grew its position in Cinemark by 38.7% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,145 shares of the company's stock valued at $68,000 after acquiring an additional 877 shares during the last quarter. Finally, 1620 Investment Advisors Inc. bought a new position in Cinemark during the second quarter valued at approximately $79,000.

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.