Cinemark (NYSE:CNK) Price Target Raised to $38.00 at Wells Fargo & Company

Cinemark (NYSE:CNK) had its target price boosted by Wells Fargo & Company from $35.00 to $38.00 in a research note issued to investors on Wednesday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

CNK has been the subject of a number of other reports. Roth Mkm increased 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. Morgan Stanley raised their price objective on Cinemark from $29.00 to $35.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. B. Riley lowered Cinemark from a “buy” rating to a “neutral” rating and set a $31.00 price objective for the company. in a research note on Tuesday, August 27th. Wedbush lowered Cinemark from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 1st. Finally, The Goldman Sachs Group raised their price objective on Cinemark from $16.00 to $20.00 and gave the stock a “sell” rating in a research note on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $31.10.

Cinemark Stock Performance

Shares of NYSE CNK opened at $34.18 on Wednesday. The stock has a fifty day moving average price of $29.65 and a two-hundred day moving average price of $25.01. The company has a debt-to-equity ratio of 3.46, a quick ratio of 0.96 and a current ratio of 0.98. The firm has a market cap of $4.18 billion, a P/E ratio of 22.05, a PEG ratio of 1.67 and a beta of 2.35. Cinemark has a 1 year low of $13.19 and a 1 year high of $34.43.

Cinemark (NYSE:CNK) last issued its quarterly earnings results on Thursday, October 31st. The company reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.61. The firm had revenue of $921.80 million during the quarter, compared to analyst estimates of $894.90 million. Cinemark had a return on equity of 60.21% and a net margin of 8.36%. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period last year, the company posted $0.61 EPS. Research analysts forecast that Cinemark will post 2 EPS for the current fiscal year.

Insider Transactions at Cinemark

In related news, insider Valmir Fernandes sold 25,000 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $32.68, for a total transaction of $817,000.00. Following the completion of the sale, the insider now directly 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 is accessible through the SEC website. 2.30% of the stock is currently owned by insiders.

Institutional Trading of Cinemark

Hedge funds and other institutional investors have recently modified their holdings of the company. Quarry LP raised its holdings in shares of Cinemark by 714.8% during the third quarter. Quarry LP now owns 1,491 shares of the company’s stock worth $42,000 after acquiring an additional 1,308 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Cinemark by 106.1% during the third quarter. GAMMA Investing LLC now owns 2,020 shares of the company’s stock worth $56,000 after acquiring an additional 1,040 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. raised its holdings in shares of Cinemark by 38.7% during 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 in the last quarter. USA Financial Formulas purchased a new stake in shares of Cinemark during the third quarter worth $77,000. Finally, 1620 Investment Advisors Inc. purchased a new stake in shares of Cinemark during the second quarter worth $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.