Cinemark Holdings, Inc. (NYSE:CNK) Receives $28.10 Average PT from Brokerages

Cinemark Holdings, Inc. (NYSE:CNK) has been given an average recommendation of “Moderate Buy” by the eleven research firms that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, six have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $28.10.

A number of equities research analysts have weighed in on CNK shares. Morgan Stanley upped their price target on shares of Cinemark from $29.00 to $35.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Barrington Research cut shares of Cinemark from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 28th. StockNews.com cut Cinemark from a “hold” rating to a “sell” rating in a report on Tuesday, October 15th. JPMorgan Chase & Co. increased their price objective on Cinemark from $25.00 to $29.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. Finally, Wells Fargo & Company lifted their target price on Cinemark from $28.00 to $31.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th.

Cinemark Trading Down 0.7 %

Shares of NYSE:CNK opened at $28.57 on Tuesday. The company has a 50 day moving average of $27.84 and a 200-day moving average of $22.55. The company has a current ratio of 1.29, a quick ratio of 1.26 and a debt-to-equity ratio of 6.23. The firm has a market cap of $3.50 billion, a P/E ratio of 19.70, a P/E/G ratio of 1.94 and a beta of 2.36. Cinemark has a twelve month low of $13.19 and a twelve month high of $29.87.

Cinemark (NYSE:CNK) last issued its quarterly earnings results on Friday, August 2nd. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.25. Cinemark had a return on equity of 41.87% and a net margin of 5.05%. The firm had revenue of $734.20 million during the quarter, compared to analyst estimates of $691.74 million. During the same period last year, the company posted $0.80 EPS. The firm’s quarterly revenue was down 22.1% on a year-over-year basis. As a group, analysts anticipate that Cinemark will post 1.41 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Valmir Fernandes sold 25,000 shares of the company’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $27.19, for a total value of $679,750.00. Following the transaction, the insider now 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 document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Friedenthal Financial acquired a new position in shares of Cinemark in the third quarter worth $777,000. Creative Planning grew its stake in Cinemark by 74.8% in the third quarter. Creative Planning now owns 20,907 shares of the company’s stock valued at $582,000 after purchasing an additional 8,946 shares in the last quarter. Ritholtz Wealth Management acquired a new position in Cinemark in the 3rd quarter worth about $489,000. USA Financial Formulas purchased a new stake in shares of Cinemark during the 3rd quarter worth about $77,000. Finally, CWM LLC lifted its holdings in shares of Cinemark by 134.4% during the 3rd quarter. CWM LLC now owns 2,993 shares of the company’s stock valued at $83,000 after buying an additional 1,716 shares during 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.