Cinemark (NYSE:CNK) Given New $34.00 Price Target at Macquarie

Cinemark (NYSE:CNK) had its price objective increased by Macquarie from $32.00 to $34.00 in a research report sent to investors on Friday morning, Benzinga reports. Macquarie currently has an outperform rating on the stock.

Several other research analysts also recently weighed in on CNK. Morgan Stanley upped their target price on shares of Cinemark from $29.00 to $35.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Wedbush raised their target price on Cinemark from $31.00 to $32.00 and gave the company an “outperform” rating in a research note on Tuesday. B. Riley lowered Cinemark from a “buy” rating to a “neutral” rating and set a $31.00 target price on the stock. in a research report on Tuesday, August 27th. The Goldman Sachs Group increased their price target on Cinemark from $16.00 to $20.00 and gave the company a “sell” rating in a report on Thursday, September 19th. Finally, Wells Fargo & Company lifted their price objective on Cinemark from $28.00 to $31.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $30.80.

Cinemark Stock Up 0.3 %

Shares of CNK traded up $0.10 during midday trading on Friday, reaching $29.85. 3,262,820 shares of the company were exchanged, compared to its average volume of 2,863,309. Cinemark has a 1-year low of $13.19 and a 1-year high of $31.09. The stock has a 50-day moving average price of $28.24 and a 200-day moving average price of $23.16. 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 company has a market cap of $3.65 billion, a price-to-earnings ratio of 30.77, a P/E/G ratio of 2.07 and a beta of 2.36.

Cinemark (NYSE:CNK) last announced its earnings results on Thursday, October 31st. The company reported $1.19 EPS for the quarter, beating the consensus estimate of $0.58 by $0.61. The business had revenue of $921.80 million for the quarter, compared to the consensus estimate of $894.90 million. Cinemark had a return on equity of 41.87% and a net margin of 5.05%. The company’s revenue was up 5.4% on a year-over-year basis. During the same period last year, the business posted $0.61 EPS. Research analysts expect that Cinemark will post 1.47 earnings per share for the current year.

Insider Buying and Selling

In other Cinemark 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 transaction of $679,750.00. Following the completion of the sale, the insider now owns 204,729 shares in the company, valued at $5,566,581.51. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. GAMMA Investing LLC boosted its stake in Cinemark by 106.1% in the third quarter. GAMMA Investing LLC now owns 2,020 shares of the company’s stock valued at $56,000 after acquiring an additional 1,040 shares during the period. Point72 Asia Singapore Pte. Ltd. raised its position in shares of Cinemark by 38.7% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,145 shares of the company’s stock worth $68,000 after purchasing an additional 877 shares during the period. USA Financial Formulas bought a new stake in shares of Cinemark in the 3rd quarter worth approximately $77,000. 1620 Investment Advisors Inc. acquired a new position in Cinemark during the 2nd quarter valued at approximately $79,000. Finally, CWM LLC grew its stake in Cinemark by 134.4% during the 3rd quarter. CWM LLC now owns 2,993 shares of the company’s stock worth $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.