Cinemark (NYSE:CNK) Price Target Raised to $35.00 at Morgan Stanley

by · The Markets Daily

Cinemark (NYSE:CNK – Free Report) had its price target increased by Morgan Stanley from $29.00 to $35.00 in a research note published on Friday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other equities analysts also recently weighed in on the stock. Barrington Research downgraded shares of Cinemark from an outperform rating to a market perform rating in a report on Wednesday, August 28th. Wedbush lifted their price target on shares of Cinemark from $28.00 to $31.00 and gave the company an outperform rating in a report on Tuesday, September 3rd. B. Riley cut shares of Cinemark from a buy rating to a neutral rating and set a $31.00 price objective on the stock. in a research report on Tuesday, August 27th. JPMorgan Chase & Co. lifted their price objective on shares of Cinemark from $22.00 to $25.00 and gave the company a neutral rating in a research report on Monday, August 5th. Finally, The Goldman Sachs Group lifted their price objective on shares of Cinemark from $16.00 to $20.00 and gave the company a sell rating in a research report on Thursday, September 19th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Cinemark currently has an average rating of Moderate Buy and an average target price of $27.70.

View Our Latest Analysis on Cinemark

Cinemark Price Performance

Shares of Cinemark stock opened at $29.68 on Friday. The company has a debt-to-equity ratio of 6.23, a quick ratio of 1.26 and a current ratio of 1.29. The stock has a market capitalization of $3.63 billion, a price-to-earnings ratio of 20.47, a price-to-earnings-growth ratio of 1.94 and a beta of 2.36. The company has a fifty day moving average of $27.42 and a 200-day moving average of $21.97. Cinemark has a 52-week low of $13.19 and a 52-week high of $29.87.

Cinemark (NYSE:CNK – Get Free Report) last posted its quarterly earnings data on Friday, August 2nd. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.25. The company had revenue of $734.20 million for the quarter, compared to the consensus estimate of $691.74 million. Cinemark had a net margin of 5.05% and a return on equity of 41.87%. The firm’s revenue was down 22.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.80 earnings per share. Equities research analysts expect that Cinemark will post 1.41 EPS for the current year.

Insider Buying and Selling

In related news, insider Valmir Fernandes sold 25,000 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $27.19, for a total value of $679,750.00. Following the sale, the insider now owns 204,729 shares in the company, valued at approximately $5,566,581.51. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Third Point LLC bought a new position in Cinemark during the first quarter valued at $89,850,000. Dimensional Fund Advisors LP boosted its stake in shares of 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 purchasing an additional 148,076 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Cinemark by 1.4% during the second quarter. Victory Capital Management Inc. now owns 2,550,819 shares of the company’s stock valued at $55,149,000 after purchasing an additional 35,993 shares during the period. Steadfast Capital Management LP purchased a new stake in shares of Cinemark during the first quarter valued at $29,323,000. Finally, Hennessy Advisors Inc. boosted its stake in shares of Cinemark by 18.1% during the second quarter. Hennessy Advisors Inc. now owns 1,530,200 shares of the company’s stock valued at $33,083,000 after purchasing an additional 234,400 shares during the period.

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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