The Goldman Sachs Group Boosts Cinemark (NYSE:CNK) Price Target to $20.00

Cinemark (NYSE:CNK) had its price target boosted by The Goldman Sachs Group from $16.00 to $20.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a sell rating on the stock.

A number of other brokerages have also commented on CNK. Macquarie raised their target price on shares of Cinemark from $21.00 to $24.00 and gave the stock 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 Tuesday, August 13th. Morgan Stanley raised their target price on shares of Cinemark from $26.00 to $29.00 and gave the stock an overweight rating in a research report on Monday, August 5th. Roth Capital raised shares of Cinemark from a hold rating to a strong-buy rating in a research report on Monday, June 24th. Finally, Wedbush raised their target price on shares of Cinemark from $28.00 to $31.00 and gave the stock an outperform rating in a research report on Tuesday, September 3rd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Cinemark presently has a consensus rating of Moderate Buy and an average target price of $26.00.

Cinemark Stock Performance

Cinemark stock opened at $28.32 on Thursday. The company has a debt-to-equity ratio of 6.23, a current ratio of 1.29 and a quick ratio of 1.26. Cinemark has a 1-year low of $13.19 and a 1-year high of $29.07. The firm has a market capitalization of $3.46 billion, a P/E ratio of 19.53, a price-to-earnings-growth ratio of 2.12 and a beta of 2.36. The company’s 50-day moving average is $25.89 and its 200 day moving average is $21.07.

Cinemark (NYSE:CNK) last posted its quarterly earnings data on Friday, August 2nd. The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.25. Cinemark had a net margin of 5.05% and a return on equity of 41.87%. The company had revenue of $734.20 million for the quarter, compared to analyst estimates of $691.74 million. During the same period in the prior year, the company posted $0.80 EPS. The firm’s revenue for the quarter was down 22.1% on a year-over-year basis. Research analysts forecast that Cinemark will post 1.33 EPS 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 dated Monday, August 19th. The stock was sold at an average price of $27.19, for a total transaction of $679,750.00. Following the sale, the insider now owns 204,729 shares of the company’s stock, valued at $5,566,581.51. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cinemark

Institutional investors have recently added to or reduced their stakes in the stock. Park West Asset Management LLC boosted its position in Cinemark by 34.3% during the fourth quarter. Park West Asset Management LLC now owns 1,175,000 shares of the company’s stock valued at $16,556,000 after purchasing an additional 300,000 shares in the last quarter. Sei Investments Co. raised its stake in Cinemark by 38.1% in the first quarter. Sei Investments Co. now owns 115,124 shares of the company’s stock valued at $2,069,000 after buying an additional 31,739 shares during the last quarter. Peconic Partners LLC raised its stake in Cinemark by 66.7% in the fourth quarter. Peconic Partners LLC now owns 500,000 shares of the company’s stock valued at $7,045,000 after buying an additional 200,000 shares during the last quarter. Hennessy Advisors Inc. raised its stake in Cinemark by 14.1% in the first quarter. Hennessy Advisors Inc. now owns 1,295,800 shares of the company’s stock valued at $23,286,000 after buying an additional 160,200 shares during the last quarter. Finally, Kodai Capital Management LP purchased a new stake in Cinemark in the fourth quarter valued at about $3,994,000.

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.