Cinemark (NYSE:CNK) Price Target Lowered to $36.00 at Wells Fargo & Company

Cinemark (NYSE:CNK - Free Report) had its target price lowered by Wells Fargo & Company from $38.00 to $36.00 in a research report report published on Wednesday,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other research firms also recently commented on CNK. Roth Mkm boosted their target price on shares of Cinemark from $30.00 to $33.00 and gave the stock a "buy" rating in a report on Thursday, October 10th. Barrington Research raised shares of Cinemark from a "market perform" rating to an "outperform" rating and set a $36.00 target price on the stock in a research report on Thursday, October 31st. Benchmark reiterated a "buy" rating and set a $40.00 target price on shares of Cinemark in a research report on Friday, January 10th. Morgan Stanley increased their price target on Cinemark from $29.00 to $35.00 and gave the stock an "overweight" rating in a research report on Friday, October 11th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Cinemark from $25.00 to $29.00 and gave the stock a "neutral" rating in a research report on Monday, October 14th. 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 issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $32.80.

Cinemark Trading Down 0.8 %

Shares of CNK traded down $0.23 during mid-day trading on Wednesday, reaching $28.80. The company had a trading volume of 2,889,080 shares, compared to its average volume of 1,842,099. The company has a current ratio of 0.98, a quick ratio of 0.96 and a debt-to-equity ratio of 3.46. Cinemark has a fifty-two week low of $13.45 and a fifty-two week high of $36.28. The stock has a market cap of $3.52 billion, a price-to-earnings ratio of 18.58 and a beta of 2.40. The firm has a fifty day simple moving average of $31.41 and a 200-day simple moving average of $28.85.

Cinemark (NYSE:CNK - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The company reported $1.19 earnings per share for the quarter, beating analysts' consensus estimates of $0.58 by $0.61. Cinemark had a return on equity of 60.21% and a net margin of 8.36%. The firm had revenue of $921.80 million during the quarter, compared to analyst estimates of $894.90 million. During the same quarter last year, the firm earned $0.61 EPS. Cinemark's quarterly revenue was up 5.4% on a year-over-year basis. On average, sell-side analysts anticipate that Cinemark will post 2.06 EPS for the current fiscal year.

Insider Activity at Cinemark

In related news, insider Valmir Fernandes sold 25,000 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $32.68, for a total transaction of $817,000.00. Following the sale, the insider now directly owns 179,729 shares of the company's stock, valued at approximately $5,873,543.72. This represents a 12.21 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.30% of the stock is currently owned by company insiders.

Institutional Trading of Cinemark

Several large investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company grew its holdings in shares of Cinemark by 4.4% in the second quarter. The Manufacturers Life Insurance Company now owns 62,287 shares of the company's stock valued at $1,347,000 after purchasing an additional 2,603 shares in the last quarter. Algert Global LLC bought a new stake in shares of Cinemark during the second quarter valued at approximately $238,000. Point72 Asia Singapore Pte. Ltd. lifted its holdings in shares of Cinemark by 38.7% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,145 shares of the company's stock worth $68,000 after buying an additional 877 shares during the period. Point72 DIFC Ltd purchased a new stake in shares of Cinemark in the 2nd quarter worth approximately $144,000. Finally, GAMMA Investing LLC lifted 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 buying an additional 1,040 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.