Cinemark (NYSE:CNK) Price Target Raised to $40.00 at Benchmark

Cinemark (NYSE:CNK) had its target price lifted by Benchmark from $32.00 to $40.00 in a research note released on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

Other equities research analysts also recently issued research reports about the stock. JPMorgan Chase & Co. raised their price objective on shares of Cinemark from $25.00 to $29.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. B. Riley cut Cinemark from a “buy” rating to a “neutral” rating and set a $31.00 price target for the company. in a report on Tuesday, August 27th. Roth Mkm lifted their price target on Cinemark from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Barrington Research upgraded Cinemark from a “market perform” rating to an “outperform” rating and set a $36.00 price objective for the company in a research report on Thursday, October 31st. Finally, The Goldman Sachs Group boosted their target price on shares of Cinemark from $16.00 to $20.00 and gave the stock a “sell” rating in a research report on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $32.80.

Cinemark Stock Up 0.2 %

Cinemark stock opened at $35.43 on Tuesday. The stock has a market capitalization of $4.33 billion, a price-to-earnings ratio of 22.85, a PEG ratio of 1.78 and a beta of 2.38. The company has a current ratio of 0.98, a quick ratio of 0.96 and a debt-to-equity ratio of 3.46. The stock has a 50 day moving average of $30.54 and a two-hundred day moving average of $25.67. Cinemark has a twelve month low of $13.19 and a twelve month high of $36.28.

Cinemark (NYSE:CNK) last posted 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. The firm had revenue of $921.80 million for the quarter, compared to analyst estimates of $894.90 million. Cinemark had a net margin of 8.36% and a return on equity of 60.21%. Cinemark’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period last year, the firm posted $0.61 EPS. As a group, research analysts expect that Cinemark will post 2 earnings per share for the current year.

Insider Activity at Cinemark

In related news, insider Valmir Fernandes sold 25,000 shares of the firm’s stock in a transaction that occurred on 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 owns 179,729 shares in the company, valued at approximately $5,873,543.72. This trade represents a 12.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Quarry LP increased its stake in Cinemark by 714.8% in the third quarter. Quarry LP now owns 1,491 shares of the company’s stock valued at $42,000 after purchasing an additional 1,308 shares during the last quarter. GAMMA Investing LLC grew its holdings in Cinemark by 106.1% in the 3rd 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 period. USA Financial Formulas acquired a new position in shares of Cinemark during the 3rd quarter valued at about $77,000. CWM LLC lifted its holdings in shares of Cinemark by 134.4% during the 3rd quarter. CWM LLC now owns 2,993 shares of the company’s stock worth $83,000 after acquiring an additional 1,716 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. boosted its position in shares of Cinemark by 38.7% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,145 shares of the company’s stock worth $68,000 after acquiring an additional 877 shares during the last quarter.

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.