Cinemark (NYSE:CNK) Price Target Raised to $38.00

Key Points

• JPMorgan Chase & Co. raised Cinemark's price target from $37.00 to $38.00, indicating a potential upside of 47.74% from its previous close, while maintaining an "overweight" rating on the stock.
• Benchmark reaffirmed a "buy" rating with a target price of $35.00, while ten analysts have rated the stock as a Buy and three as a Hold, resulting in an average rating of "Moderate Buy."
• Cinemark recently reported $0.63 EPS for the quarter, missing the consensus estimate, although its revenue increased by 28.1% compared to the same quarter last year.

Cinemark (NYSE:CNK - Get Free Report) had its price target hoisted by JPMorgan Chase & Co. from $37.00 to $38.00 in a report issued on Thursday,Benzinga reports. The firm currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price objective indicates a potential upside of 47.74% from the company's previous close.

A number of other research firms have also recently commented on CNK. Benchmark reaffirmed a "buy" rating and set a $35.00 target price on shares of Cinemark in a research note on Wednesday, July 2nd. Wall Street Zen raised Cinemark from a "sell" rating to a "hold" rating in a research report on Sunday, August 10th. Roth Capital decreased their target price on Cinemark from $36.00 to $34.00 and set a "buy" rating for the company in a research report on Monday, August 4th. Wedbush raised shares of Cinemark from a "neutral" rating to an "outperform" rating and boosted their target price for the company from $32.00 to $37.00 in a research note on Friday, July 11th. Finally, Barrington Research reaffirmed an "outperform" rating and issued a $36.00 price target on shares of Cinemark in a research note on Tuesday, September 23rd. Ten investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Cinemark presently has an average rating of "Moderate Buy" and a consensus target price of $35.18.

Cinemark Trading Down 2.2%

CNK stock opened at $25.72 on Thursday. The company has a quick ratio of 0.88, a current ratio of 0.91 and a debt-to-equity ratio of 4.32. Cinemark has a twelve month low of $23.12 and a twelve month high of $36.28. The stock has a market capitalization of $2.96 billion, a price-to-earnings ratio of 14.08, a price-to-earnings-growth ratio of 1.88 and a beta of 1.75. The firm's fifty day simple moving average is $26.72 and its two-hundred day simple moving average is $28.69.

Cinemark (NYSE:CNK - Get Free Report) last released its earnings results on Friday, August 1st. The company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.15). Cinemark had a return on equity of 59.16% and a net margin of 9.13%.The firm had revenue of $940.50 million during the quarter, compared to the consensus estimate of $942.14 million. Cinemark's revenue was up 28.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.32 EPS. As a group, analysts anticipate that Cinemark will post 1.93 earnings per share for the current year.

Insiders Place Their Bets

In other Cinemark news, EVP Melissa Thomas sold 7,200 shares of the stock in a transaction on Friday, August 15th. The stock was sold at an average price of $25.17, for a total transaction of $181,224.00. Following the sale, the executive vice president owned 203,768 shares of the company's stock, valued at approximately $5,128,840.56. This trade represents a 3.41% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Cinemark

Several hedge funds have recently modified their holdings of the company. Wellington Management Group LLP lifted its holdings in shares of Cinemark by 12.9% during the 1st quarter. Wellington Management Group LLP now owns 9,346,856 shares of the company's stock valued at $232,643,000 after purchasing an additional 1,066,225 shares during the last quarter. Marshall Wace LLP increased its position in Cinemark by 758.9% during the 2nd quarter. Marshall Wace LLP now owns 4,497,305 shares of the company's stock valued at $135,729,000 after buying an additional 3,973,689 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in Cinemark by 106.9% in the second quarter. Assenagon Asset Management S.A. now owns 2,589,372 shares of the company's stock valued at $78,147,000 after buying an additional 1,338,153 shares during the last quarter. Squarepoint Ops LLC boosted its holdings in Cinemark by 119.9% in the second quarter. Squarepoint Ops LLC now owns 2,180,513 shares of the company's stock worth $65,808,000 after acquiring an additional 1,188,709 shares in the last quarter. Finally, Qube Research & Technologies Ltd grew its stake in shares of Cinemark by 18.7% during the second quarter. Qube Research & Technologies Ltd now owns 2,012,913 shares of the company's stock worth $60,750,000 after acquiring an additional 316,476 shares during the last quarter.

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.

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