Cinemark (NYSE:CNK) Given New $35.00 Price Target at JPMorgan Chase & Co.

Cinemark (NYSE:CNK - Get Free Report) had its target price raised by JPMorgan Chase & Co. from $34.00 to $35.00 in a research note issued on Monday,Benzinga reports. The firm presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price target suggests a potential upside of 22.81% from the company's previous close.

Several other research analysts also recently issued reports on CNK. Morgan Stanley lowered their price objective on shares of Cinemark from $40.00 to $35.00 and set an "overweight" rating on the stock in a research report on Thursday, February 20th. Macquarie reaffirmed an "outperform" rating and set a $35.00 price objective on shares of Cinemark in a research report on Thursday, February 20th. Wedbush reissued a "neutral" rating and issued a $32.00 target price on shares of Cinemark in a report on Monday, April 28th. Wells Fargo & Company decreased their price target on Cinemark from $38.00 to $36.00 and set an "overweight" rating for the company in a report on Wednesday, January 29th. Finally, Benchmark lowered their target price on shares of Cinemark from $40.00 to $35.00 and set a "buy" rating on the stock in a report on Thursday, February 20th. One analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Cinemark has an average rating of "Moderate Buy" and an average target price of $33.20.

Cinemark Stock Down 5.9 %

NYSE:CNK traded down $1.80 during midday trading on Monday, hitting $28.50. 1,872,388 shares of the company were exchanged, compared to its average volume of 2,988,128. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 3.28. Cinemark has a fifty-two week low of $16.32 and a fifty-two week high of $36.28. The company has a market capitalization of $3.36 billion, a PE ratio of 14.05 and a beta of 2.07. The company has a fifty day simple moving average of $26.40 and a 200 day simple moving average of $29.33.

Cinemark (NYSE:CNK - Get Free Report) last released its quarterly earnings results on Friday, May 2nd. The company reported ($0.32) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.32). Cinemark had a return on equity of 65.83% and a net margin of 10.16%. The firm had revenue of $540.70 million for the quarter, compared to the consensus estimate of $604.62 million. During the same quarter last year, the business posted $0.19 EPS. The firm's quarterly revenue was down 6.6% compared to the same quarter last year. As a group, equities analysts anticipate that Cinemark will post 1.93 earnings per share for the current fiscal year.

Insider Transactions at Cinemark

In other news, insider Wanda Marie Gierhart sold 9,119 shares of the business's stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $27.00, for a total value of $246,213.00. Following the sale, the insider now owns 147,414 shares of the company's stock, valued at approximately $3,980,178. The trade was a 5.83 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.10% of the company's stock.

Institutional Trading of Cinemark

Several institutional investors and hedge funds have recently bought and sold shares of CNK. Elequin Capital LP boosted its holdings in shares of Cinemark by 211.6% during the fourth quarter. Elequin Capital LP now owns 997 shares of the company's stock worth $31,000 after purchasing an additional 677 shares during the period. Russell Investments Group Ltd. lifted its position in shares of Cinemark by 402.4% in the fourth quarter. Russell Investments Group Ltd. now owns 1,030 shares of the company's stock worth $32,000 after buying an additional 825 shares during the last quarter. Aster Capital Management DIFC Ltd grew its holdings in Cinemark by 380.0% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,896 shares of the company's stock valued at $59,000 after purchasing an additional 1,501 shares during the last quarter. R Squared Ltd acquired a new stake in shares of Cinemark in the fourth quarter worth $63,000. Finally, Quarry LP grew its stake in Cinemark by 41.8% in the 4th quarter. Quarry LP now owns 2,114 shares of the company's stock valued at $65,000 after buying an additional 623 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.

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