Cinemark (NYSE:CNK) Price Target Raised to $35.00 at Wells Fargo & Company

Cinemark (NYSE:CNK) had its target price upped by analysts at Wells Fargo & Company from $31.00 to $35.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective indicates a potential upside of 17.25% from the stock’s previous close.

Other analysts also recently issued research reports about the stock. B. Riley downgraded shares of Cinemark from a “buy” rating to a “neutral” rating and set a $31.00 price target for the company. in a research note on Tuesday, August 27th. The Goldman Sachs Group upped their price target on Cinemark from $16.00 to $20.00 and gave the stock a “sell” rating in a research report on Thursday, September 19th. Barrington Research raised Cinemark from a “market perform” rating to an “outperform” rating and set a $36.00 price target on the stock in a research report on Thursday. Roth Mkm boosted their price objective on shares of Cinemark from $30.00 to $33.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Cinemark from $25.00 to $29.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $30.80.

Cinemark Stock Performance

Shares of CNK stock traded up $0.10 on Friday, reaching $29.85. The stock had a trading volume of 3,202,987 shares, compared to its average volume of 2,863,307. Cinemark has a 1 year low of $13.19 and a 1 year high of $31.09. The company has a 50 day simple moving average of $28.20 and a 200 day simple moving average of $23.07. The stock has a market cap of $3.65 billion, a P/E ratio of 30.77, a price-to-earnings-growth ratio of 2.07 and a beta of 2.36. The company has a debt-to-equity ratio of 6.23, a quick ratio of 1.26 and a current ratio of 1.29.

Cinemark (NYSE:CNK) last posted its quarterly earnings results on Thursday, October 31st. The company reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.61. The business had revenue of $921.80 million for the quarter, compared to analysts’ expectations of $894.90 million. Cinemark had a return on equity of 41.87% and a net margin of 5.05%. The business’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period last year, the firm earned $0.61 earnings per share. Equities research analysts expect that Cinemark will post 1.47 EPS for the current year.

Insider Activity

In other Cinemark news, insider Valmir Fernandes sold 25,000 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $27.19, for a total transaction of $679,750.00. Following the transaction, the insider now directly owns 204,729 shares in the company, valued at approximately $5,566,581.51. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On Cinemark

Large investors have recently made changes to their positions in the business. GAMMA Investing LLC grew its holdings in Cinemark by 106.1% during the 3rd quarter. GAMMA Investing LLC now owns 2,020 shares of the company’s stock valued at $56,000 after purchasing an additional 1,040 shares in the last quarter. USA Financial Formulas bought a new stake in Cinemark in the 3rd quarter valued at about $77,000. CWM LLC lifted its position in Cinemark by 134.4% in the 3rd quarter. CWM LLC now owns 2,993 shares of the company’s stock valued at $83,000 after purchasing an additional 1,716 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its position in Cinemark by 38.7% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,145 shares of the company’s stock valued at $68,000 after purchasing an additional 877 shares during the last quarter. Finally, 1620 Investment Advisors Inc. acquired a new position in Cinemark during the 2nd quarter valued at about $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.