JPMorgan Chase & Co. Raises Cinemark (NYSE:CNK) Price Target to $25.00

Cinemark (NYSE:CNK) had its target price lifted by JPMorgan Chase & Co. from $22.00 to $25.00 in a research note published on Monday morning, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

A number of other brokerages have also recently commented on CNK. Macquarie raised their target price on Cinemark from $21.00 to $24.00 and gave the company an outperform rating in a report on Tuesday, July 9th. B. Riley upgraded Cinemark from a neutral rating to a buy rating and raised their target price for the company from $16.00 to $27.00 in a report on Monday, July 8th. StockNews.com cut Cinemark from a hold rating to a sell rating in a report on Thursday, May 30th. Wedbush restated an outperform rating and set a $25.00 target price on shares of Cinemark in a report on Monday, July 29th. Finally, Benchmark restated a buy rating and set a $23.00 target price on shares of Cinemark in a report on Monday, July 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $24.60.

Cinemark Stock Down 0.7 %

Shares of NYSE:CNK opened at $26.02 on Monday. The business has a 50-day moving average price of $20.51 and a 200 day moving average price of $18.29. The company has a current ratio of 1.48, a quick ratio of 1.45 and a debt-to-equity ratio of 7.42. The company has a market capitalization of $3.18 billion, a price-to-earnings ratio of 17.94, a PEG ratio of 2.14 and a beta of 2.36. Cinemark has a 12-month low of $13.19 and a 12-month high of $26.46.

Cinemark (NYSE:CNK) last issued its quarterly earnings data 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 firm had revenue of $734.20 million during the quarter, compared to the consensus estimate of $691.74 million. Cinemark had a return on equity of 69.48% and a net margin of 7.12%. The company’s quarterly revenue was down 22.1% on a year-over-year basis. During the same period last year, the company earned $0.80 EPS. Sell-side analysts expect that Cinemark will post 1.08 EPS for the current year.

Hedge Funds Weigh In On Cinemark

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Headlands Technologies LLC purchased a new position in shares of Cinemark in the 2nd quarter valued at about $242,000. Texas Permanent School Fund Corp boosted its stake in shares of Cinemark by 9.5% in the 2nd quarter. Texas Permanent School Fund Corp now owns 101,403 shares of the company’s stock valued at $2,192,000 after buying an additional 8,812 shares during the period. Wakefield Asset Management LLLP purchased a new stake in Cinemark during the second quarter worth approximately $1,080,000. Arizona State Retirement System lifted its stake in Cinemark by 1.8% during the second quarter. Arizona State Retirement System now owns 30,636 shares of the company’s stock worth $662,000 after purchasing an additional 556 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its stake in Cinemark by 1.4% during the second quarter. Victory Capital Management Inc. now owns 2,550,819 shares of the company’s stock worth $55,149,000 after purchasing an additional 35,993 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.