JPMorgan Chase & Co. Raises Cinemark (NYSE:CNK) Price Target to $31.00

Cinemark (NYSE:CNK) had its price target raised by analysts at JPMorgan Chase & Co. from $29.00 to $31.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 6.86% from the company’s current price.

CNK has been the subject of a number of other research reports. Wells Fargo & Company dropped their price target on shares of Cinemark from $38.00 to $36.00 and set an “overweight” rating for the company in a research note on Wednesday. Roth Mkm upped their target price on shares of Cinemark from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Wedbush downgraded Cinemark from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 1st. Barrington Research upgraded Cinemark from a “market perform” rating to an “outperform” rating and set a $36.00 price objective on the stock in a research note on Thursday, October 31st. Finally, Benchmark reiterated a “buy” rating and issued a $40.00 target price on shares of Cinemark in a research report on Friday, January 10th. 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 assigned 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 $32.80.

Cinemark Stock Down 0.0 %

Cinemark stock traded down $0.01 during midday trading on Thursday, hitting $29.01. 90,739 shares of the stock were exchanged, compared to its average volume of 1,692,995. The company has a debt-to-equity ratio of 3.46, a current ratio of 0.98 and a quick ratio of 0.96. The company has a 50 day moving average price of $31.49 and a two-hundred day moving average price of $28.85. The firm has a market cap of $3.55 billion, a P/E ratio of 18.72 and a beta of 2.40. Cinemark has a 1 year low of $13.45 and a 1 year high of $36.28.

Cinemark (NYSE:CNK) last issued its quarterly earnings results on Thursday, October 31st. The company reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.61. Cinemark had a return on equity of 60.21% and a net margin of 8.36%. The firm had revenue of $921.80 million during the quarter, compared to the consensus estimate of $894.90 million. During the same quarter in the prior year, the business posted $0.61 earnings per share. Cinemark’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, sell-side analysts predict that Cinemark will post 2.06 earnings per share for the current fiscal year.

Insider Activity at Cinemark

In other news, insider Valmir Fernandes sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $32.68, for a total transaction of $817,000.00. Following the completion of the transaction, the insider now directly owns 179,729 shares in the company, valued at approximately $5,873,543.72. The trade was a 12.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 2.30% of the company’s stock.

Institutional Trading of Cinemark

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Maverick Capital Ltd. raised its position in Cinemark by 1,356.4% in the third quarter. Maverick Capital Ltd. now owns 1,517,771 shares of the company’s stock worth $42,255,000 after acquiring an additional 1,413,557 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in Cinemark by 1,532.5% during the third quarter. BNP Paribas Financial Markets now owns 650,227 shares of the company’s stock worth $18,102,000 after buying an additional 610,398 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in Cinemark in the third quarter worth approximately $12,133,000. Hennessy Advisors Inc. lifted its position in shares of Cinemark by 13.8% during the 4th quarter. Hennessy Advisors Inc. now owns 1,989,300 shares of the company’s stock valued at $61,629,000 after acquiring an additional 241,600 shares during the last quarter. Finally, Castellan Group bought a new stake in shares of Cinemark during the 3rd quarter worth $6,130,000.

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.