Cinemark (NYSE:CNK) Stock Gets Price Target Increase from JPMorgan Chase & Co.

Key Points

• JPMorgan raised Cinemark’s price target from $39 to $41 while maintaining a “neutral” rating, implying approximately 2.12% upside from the prior close.
• Analyst sentiment is broadly positive, with Cinemark carrying a “Moderate Buy” consensus rating and an average price target of $38.43; Wedbush also raised its target to $43 and assigned an “outperform” rating.
• Cinemark reported quarterly results above expectations, earning $1.19 per share versus the $1.03 consensus estimate and generating $1.09 billion in revenue, up 15.5% year over year.

Cinemark (NYSE:CNK - Get Free Report) had its target price increased by analysts at JPMorgan Chase & Co. from $39.00 to $41.00 in a research note issued on Friday, Benzinga reports. The firm currently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price objective would suggest a potential upside of 2.12% from the stock's previous close.

Several other brokerages have also recently commented on CNK. Wedbush boosted their price objective on shares of Cinemark from $40.00 to $43.00 and gave the company an "outperform" rating in a research note on Friday, July 31st. Barrington Research set a $42.00 target price on Cinemark in a report on Thursday, July 30th. The Goldman Sachs Group upgraded Cinemark from a "sell" rating to a "neutral" rating and raised their price target for the stock from $23.00 to $30.00 in a research report on Wednesday, July 8th. Weiss Ratings raised shares of Cinemark from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, October 8th. Finally, Guggenheim set a $37.00 target price on shares of Cinemark in a report on Thursday, July 2nd. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $38.43.

Cinemark Stock Performance

Shares of CNK stock traded up $0.54 on Friday, hitting $40.15. 268,214 shares of the stock were exchanged, compared to its average volume of 2,332,529. The firm's 50 day moving average is $36.61 and its two-hundred day moving average is $32.99. Cinemark has a one year low of $21.60 and a one year high of $40.53. The firm has a market capitalization of $4.65 billion, a PE ratio of 23.75 and a beta of 1.03. The company has a current ratio of 0.84, a quick ratio of 0.81 and a debt-to-equity ratio of 3.87.

Cinemark (NYSE:CNK - Get Free Report) last issued its earnings results on Thursday, July 30th. The company reported $1.19 earnings per share for the quarter, topping analysts' consensus estimates of $1.03 by $0.16. Cinemark had a net margin of 6.44% and a return on equity of 50.94%. The firm had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same quarter last year, the business earned $0.63 earnings per share. The company's quarterly revenue was up 15.5% on a year-over-year basis. Sell-side analysts expect that Cinemark will post 2.62 earnings per share for the current fiscal year.

Institutional Trading of Cinemark

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Public Employees Retirement System of Ohio acquired a new position in shares of Cinemark in the second quarter worth about $32,000. TD Waterhouse Canada Inc. acquired a new position in Cinemark in the third quarter valued at about $36,000. USA Financial Formulas purchased a new position in Cinemark during the third quarter worth about $43,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Cinemark during the second quarter valued at about $60,000. Finally, KBC Group NV grew its position 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 acquiring an additional 1,572 shares in the last quarter.

Cinemark Company Profile

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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