Cinemark (NYSE:CNK) Hits New 1-Year High – Here’s What Happened

Cinemark Holdings, Inc. (NYSE:CNK)’s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $31.14 and last traded at $31.11, with a volume of 456701 shares. The stock had previously closed at $30.76.

Wall Street Analysts Forecast Growth

CNK has been the subject of a number of research analyst reports. Wells Fargo & Company lifted their target price on Cinemark from $31.00 to $35.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Morgan Stanley boosted their target price on Cinemark from $29.00 to $35.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. JPMorgan Chase & Co. raised their price target on shares of Cinemark from $25.00 to $29.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Roth Mkm raised their target price on shares of Cinemark from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, Wedbush cut shares of Cinemark from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 1st. Two research analysts have rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $30.80.

Cinemark Stock Up 2.6 %

The company has a current ratio of 0.98, a quick ratio of 0.96 and a debt-to-equity ratio of 3.46. The business has a 50-day moving average price of $28.36 and a 200-day moving average price of $23.44. The stock has a market cap of $3.86 billion, a PE ratio of 19.98, a price-to-earnings-growth ratio of 1.64 and a beta of 2.35.

Cinemark (NYSE:CNK) last announced its 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 during the quarter, compared to analysts’ expectations of $894.90 million. Cinemark had a return on equity of 60.21% and a net margin of 8.36%. The business’s revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.61 earnings per share. As a group, analysts forecast that Cinemark Holdings, Inc. will post 1.8 earnings per share for the current year.

Insider Buying and Selling

In other Cinemark news, insider Valmir Fernandes sold 25,000 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $27.19, for a total value of $679,750.00. Following the completion of the sale, the insider now directly owns 204,729 shares in the company, valued at $5,566,581.51. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cinemark

Institutional investors and hedge funds have recently bought and sold shares of the company. Third Point LLC acquired a new position in Cinemark in the first quarter valued at approximately $89,850,000. Steadfast Capital Management LP acquired a new stake in shares of Cinemark during the 1st quarter worth about $29,323,000. Jericho Capital Asset Management L.P. purchased a new stake in Cinemark in the 1st quarter valued at about $15,975,000. Nut Tree Capital Management LP purchased a new position in Cinemark during the first quarter worth about $13,250,000. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of Cinemark in the 3rd quarter valued at approximately $12,133,000.

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.