Cinemark (NYSE:CNK) PT Raised to $20.00 at The Goldman Sachs Group

Cinemark (NYSE:CNK) had its target price increased by research analysts at The Goldman Sachs Group from $16.00 to $20.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has a “sell” rating on the stock. The Goldman Sachs Group’s target price indicates a potential downside of 29.35% from the company’s previous close.

CNK has been the subject of several other research reports. Roth Mkm upped their target price on shares of Cinemark from $28.00 to $30.00 and gave the company a “buy” rating in a research report on Monday, August 5th. JPMorgan Chase & Co. upped their target price 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. Roth Capital raised shares of Cinemark from a “hold” rating to a “strong-buy” rating in a report on Monday, June 24th. StockNews.com lowered shares of Cinemark from a “hold” rating to a “sell” rating in a report on Tuesday, August 13th. Finally, Morgan Stanley boosted their price target on shares of Cinemark from $26.00 to $29.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Two analysts have rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.00.

Cinemark Stock Performance

Shares of Cinemark stock opened at $28.31 on Thursday. The firm has a fifty day moving average of $25.89 and a two-hundred day moving average of $21.05. The stock has a market capitalization of $3.46 billion, a price-to-earnings ratio of 19.52, a PEG ratio of 2.12 and a beta of 2.36. Cinemark has a 52 week low of $13.19 and a 52 week high of $29.07. The company has a debt-to-equity ratio of 6.23, a quick ratio of 1.26 and a current ratio of 1.29.

Cinemark (NYSE:CNK) last issued its earnings results on Friday, August 2nd. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.07 by $0.25. The company had revenue of $734.20 million during the quarter, compared to analysts’ expectations of $691.74 million. Cinemark had a net margin of 5.05% and a return on equity of 41.87%. The business’s revenue for the quarter was down 22.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.80 EPS. As a group, equities research analysts predict that Cinemark will post 1.33 EPS for the current year.

Insider Buying and Selling

In related news, insider Valmir Fernandes sold 25,000 shares of the company’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 completion of the transaction, the insider now directly owns 204,729 shares of the company’s stock, valued at approximately $5,566,581.51. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On Cinemark

A number of large investors have recently modified their holdings of CNK. Point72 Asia Singapore Pte. Ltd. boosted its stake 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 buying an additional 877 shares during the last quarter. 1620 Investment Advisors Inc. acquired a new position in shares of Cinemark during the 2nd quarter worth about $79,000. Fifth Third Bancorp boosted its stake in shares of Cinemark by 414.4% during the 2nd quarter. Fifth Third Bancorp now owns 4,480 shares of the company’s stock worth $97,000 after buying an additional 3,609 shares during the last quarter. Point72 DIFC Ltd acquired a new position in shares of Cinemark during the 2nd quarter worth about $144,000. Finally, Virtu Financial LLC acquired a new position in shares of Cinemark during the 4th quarter worth about $192,000.

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.