Cinemark (NYSE:CNK) Sets New 52-Week High – Here’s Why

Cinemark Holdings, Inc. (NYSE:CNK)’s stock price reached a new 52-week high on Thursday . The stock traded as high as $31.14 and last traded at $31.11, with a volume of 456701 shares traded. The stock had previously closed at $30.76.

Wall Street Analysts Forecast Growth

CNK has been the topic of several recent research reports. Morgan Stanley upped their price objective on shares of Cinemark from $29.00 to $35.00 and gave the company an “overweight” rating in a report on Friday, October 11th. B. Riley cut shares of Cinemark from a “buy” rating to a “neutral” rating and set a $31.00 price objective for the company. in a research report on Tuesday, August 27th. JPMorgan Chase & Co. increased their target price on shares of Cinemark from $25.00 to $29.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. StockNews.com cut shares of Cinemark from a “hold” rating to a “sell” rating in a research report on Saturday, November 2nd. Finally, Barrington Research raised shares of Cinemark from a “market perform” rating to an “outperform” rating and set a $36.00 target price for the company in a research note on Thursday, October 31st. Two analysts have rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.80.

Cinemark Price Performance

The company has a quick ratio of 0.96, a current ratio of 0.98 and a debt-to-equity ratio of 3.46. The company has a market capitalization of $3.86 billion, a P/E ratio of 20.33, a PEG ratio of 1.64 and a beta of 2.35. The business has a 50 day simple moving average of $28.51 and a 200-day simple moving average of $23.59.

Cinemark (NYSE:CNK) last released its earnings results on Thursday, October 31st. The company reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.61. The firm had revenue of $921.80 million for the quarter, compared to analyst estimates of $894.90 million. Cinemark had a return on equity of 60.21% and a net margin of 8.36%. Cinemark’s revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.61 earnings per share. Analysts predict that Cinemark Holdings, Inc. will post 1.8 EPS for the current fiscal year.

Insiders Place Their Bets

In other Cinemark news, insider Valmir Fernandes sold 25,000 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $27.19, for a total value of $679,750.00. Following the sale, the insider now directly owns 204,729 shares in the company, valued at $5,566,581.51. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. GAMMA Investing LLC boosted its position in Cinemark by 106.1% during the third quarter. GAMMA Investing LLC now owns 2,020 shares of the company’s stock valued at $56,000 after purchasing an additional 1,040 shares during the last quarter. USA Financial Formulas bought a new position in Cinemark during the 3rd quarter worth $77,000. CWM LLC increased its stake in shares of Cinemark by 134.4% in the 3rd quarter. CWM LLC now owns 2,993 shares of the company’s stock valued at $83,000 after purchasing an additional 1,716 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. increased its stake in shares of Cinemark by 38.7% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,145 shares of the company’s stock valued at $68,000 after purchasing an additional 877 shares during the last quarter. Finally, 1620 Investment Advisors Inc. bought a new position in shares of Cinemark in the 2nd quarter valued at $79,000.

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.