Brokerages Set Cinemark Holdings, Inc. (NYSE:CNK) Price Target at $32.80

by · The Markets Daily

Shares of Cinemark Holdings, Inc. (NYSE:CNK – Get Free Report) have received an average recommendation of “Moderate Buy” from the eleven ratings firms that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation, six have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $32.80.

CNK has been the subject of several recent research reports. JPMorgan Chase & Co. increased their target price on shares of Cinemark from $25.00 to $29.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. Morgan Stanley increased their price target on Cinemark from $29.00 to $35.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. 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 research note on Thursday, October 10th. Macquarie lifted their target price on shares of Cinemark from $32.00 to $34.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, StockNews.com raised shares of Cinemark from a “sell” rating to a “hold” rating in a report on Sunday, November 10th.

View Our Latest Report on CNK

Cinemark Stock Down 0.0 %

Shares of NYSE:CNK opened at $30.97 on Friday. The firm has a 50 day simple moving average of $32.01 and a 200-day simple moving average of $27.67. Cinemark has a twelve month low of $13.19 and a twelve month high of $36.28. 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 company has a market capitalization of $3.79 billion, a PE ratio of 19.98, a P/E/G ratio of 1.66 and a beta of 2.38.

Cinemark (NYSE:CNK – Get Free Report) last posted its earnings results 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 business had revenue of $921.80 million during the quarter, compared to the consensus estimate of $894.90 million. Cinemark had a return on equity of 60.21% and a net margin of 8.36%. The business’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.61 EPS. On average, equities analysts predict that Cinemark will post 2 EPS for the current fiscal year.

Insider Activity at Cinemark

In other news, insider Valmir Fernandes sold 25,000 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $32.68, for a total value of $817,000.00. Following the sale, the insider now directly owns 179,729 shares in the company, valued at $5,873,543.72. This represents a 12.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its position in Cinemark by 5.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,914,708 shares of the company’s stock valued at $63,012,000 after acquiring an additional 148,076 shares during the period. Victory Capital Management Inc. boosted its position in Cinemark by 1.4% during the 2nd quarter. Victory Capital Management Inc. now owns 2,550,819 shares of the company’s stock worth $55,149,000 after purchasing an additional 35,993 shares during the period. Geode Capital Management LLC increased its holdings in Cinemark by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 2,449,567 shares of the company’s stock valued at $68,209,000 after purchasing an additional 25,857 shares in the last quarter. Maverick Capital Ltd. lifted its stake in shares of Cinemark by 1,356.4% during the third quarter. Maverick Capital Ltd. now owns 1,517,771 shares of the company’s stock worth $42,255,000 after purchasing an additional 1,413,557 shares in the last quarter. Finally, Royal London Asset Management Ltd. grew its position in Cinemark by 2.4% in the third quarter. Royal London Asset Management Ltd. now owns 1,264,614 shares of the company’s stock valued at $35,207,000 after acquiring an additional 29,275 shares in the last quarter.

Cinemark Company Profile

(Get Free Report

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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