Cinemark (NYSE:CNK) Price Target Raised to $45.00

Key Points

• Morgan Stanley raised Cinemark’s price target from $40 to $45 while maintaining an “equal weight” rating, implying approximately 15.27% upside from the stock’s current price.
• Analyst sentiment is broadly positive: Cinemark has a consensus “Moderate Buy” rating and an average price target of $38.79, with ratings including one Strong Buy, nine Buys, and five Holds.
• Cinemark’s latest quarterly results exceeded expectations, with EPS of $1.19 versus the $1.03 consensus and revenue of $1.09 billion, up 15.5% year over year.

Cinemark (NYSE:CNK - Get Free Report) had its price objective lifted by investment analysts at Morgan Stanley from $40.00 to $45.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Morgan Stanley's price target indicates a potential upside of 15.27% from the stock's current price.

Several other equities research analysts have also commented on the stock. Wedbush boosted their price target on shares of Cinemark from $40.00 to $43.00 and gave the company an "outperform" rating in a report on Friday, July 31st. Wall Street Zen downgraded shares of Cinemark from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 29th. Benchmark upped their target price on Cinemark from $37.00 to $40.00 and gave the stock a "buy" rating in a report on Friday, July 31st. The Goldman Sachs Group raised Cinemark from a "sell" rating to a "neutral" rating and increased their target price for the company from $23.00 to $30.00 in a research report on Wednesday, July 8th. Finally, Roth Capital reiterated a "buy" rating and issued a $45.00 price target on shares of Cinemark in a report on Friday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $38.79.

Cinemark Trading Down 0.4%

NYSE:CNK traded down $0.15 during midday trading on Monday, hitting $39.04. The stock had a trading volume of 618,490 shares, compared to its average volume of 2,311,109. The stock has a 50-day moving average of $36.93 and a 200 day moving average of $31.27. The company has a market capitalization of $4.53 billion, a price-to-earnings ratio of 23.09 and a beta of 1.07. Cinemark has a one year low of $21.60 and a one year high of $40.53. The company has a quick ratio of 0.81, a current ratio of 0.84 and a debt-to-equity ratio of 3.87.

Cinemark (NYSE:CNK - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The company reported $1.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.03 by $0.16. Cinemark had a return on equity of 50.94% and a net margin of 6.44%. The business had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the company earned $0.63 EPS. The business's revenue was up 15.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Cinemark will post 2.66 EPS for the current year.

Institutional Investors Weigh In On Cinemark

A number of large investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio acquired a new position in shares of Cinemark in the 2nd quarter valued at about $32,000. TD Waterhouse Canada Inc. purchased a new stake in shares of Cinemark during the third quarter worth about $36,000. USA Financial Formulas purchased a new stake in shares of Cinemark during the third quarter worth about $43,000. Integrated Wealth Concepts LLC acquired a new position in shares of Cinemark during the 2nd quarter worth about $60,000. Finally, KBC Group NV lifted its stake in Cinemark by 56.9% in the 1st quarter. KBC Group NV now owns 4,334 shares of the company's stock valued at $124,000 after buying an additional 1,572 shares in the last quarter.

About Cinemark

Cinemark Holdings, Inc NYSE: CNK is a leading motion picture exhibition company that operates movie theaters in the United States and Latin America. Through its Cinemark and Century theater brands, the company provides audiences with theatrical entertainment, including first-run films, premium large-format presentations and enhanced viewing experiences.

Cinemark's theaters generate revenue primarily through ticket sales and food and beverage concessions. Its offerings may include reserved seating, luxury reclining seats, Cinemark XD premium auditoriums, online and mobile ticketing, and loyalty programs such as Cinemark Movie Rewards.

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