Cinemark (NYSE:CNK) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Cinemark (NYSE:CNK) had its price target hoisted by research analysts at Wells Fargo & Company from $35.00 to $38.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective suggests a potential upside of 12.73% from the company’s previous close.

Several other equities analysts have also commented on the company. JPMorgan Chase & Co. upped their target price on Cinemark from $25.00 to $29.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Wedbush downgraded Cinemark from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 1st. Macquarie boosted their price objective on Cinemark from $32.00 to $34.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. The Goldman Sachs Group upped their target price on Cinemark from $16.00 to $20.00 and gave the stock a “sell” rating in a research report on Thursday, September 19th. Finally, Barrington Research upgraded Cinemark from a “market perform” rating to an “outperform” rating and set a $36.00 target price for the company in a research report on Thursday, October 31st. One analyst has rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.10.

Cinemark Trading Up 2.6 %

CNK traded up $0.87 on Wednesday, reaching $33.71. 714,004 shares of the company’s stock were exchanged, compared to its average volume of 2,849,576. The company’s 50 day moving average is $29.54 and its 200-day moving average is $24.95. The company has a market cap of $4.12 billion, a price-to-earnings ratio of 21.75, a PEG ratio of 1.67 and a beta of 2.35. Cinemark has a twelve month low of $13.19 and a twelve month high of $34.26. The company has a debt-to-equity ratio of 3.46, a quick ratio of 0.96 and a current ratio of 0.98.

Cinemark (NYSE:CNK) last announced its quarterly earnings data on Thursday, October 31st. The company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.61. The firm had revenue of $921.80 million during the quarter, compared to analyst estimates of $894.90 million. Cinemark had a return on equity of 60.21% and a net margin of 8.36%. Cinemark’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.61 earnings per share. Equities analysts predict that Cinemark will post 2 earnings per share for the current year.

Insider Buying and Selling at Cinemark

In related news, insider Valmir Fernandes sold 25,000 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $32.68, for a total value of $817,000.00. Following the completion of the sale, the insider now directly owns 179,729 shares in the company, valued at approximately $5,873,543.72. This represents a 12.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On Cinemark

Large investors have recently bought and sold shares of the business. CANADA LIFE ASSURANCE Co lifted its stake in shares of Cinemark by 0.5% in the first quarter. CANADA LIFE ASSURANCE Co now owns 122,908 shares of the company’s stock valued at $2,209,000 after buying an additional 612 shares during the period. Comerica Bank increased its holdings in shares of Cinemark by 36.4% during the first quarter. Comerica Bank now owns 68,261 shares of the company’s stock worth $1,227,000 after buying an additional 18,198 shares in the last quarter. Everence Capital Management Inc. acquired a new stake in shares of Cinemark during the second quarter worth approximately $328,000. QRG Capital Management Inc. increased its holdings in shares of Cinemark by 5.9% during the second quarter. QRG Capital Management Inc. now owns 20,557 shares of the company’s stock worth $444,000 after buying an additional 1,148 shares in the last quarter. Finally, Wedge Capital Management L L P NC increased its holdings in shares of Cinemark by 16.4% during the second quarter. Wedge Capital Management L L P NC now owns 103,568 shares of the company’s stock worth $2,239,000 after buying an additional 14,621 shares in 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.