Cinemark (NYSE:CNK) Given New $33.00 Price Target at Roth Mkm

Cinemark (NYSE:CNK) had its price target increased by Roth Mkm from $30.00 to $33.00 in a research note published on Thursday morning, Benzinga reports. The firm currently has a buy rating on the stock.

Several other research analysts also recently issued reports on the stock. Morgan Stanley upped their price target on shares of Cinemark from $26.00 to $29.00 and gave the stock an overweight rating in a research report on Monday, August 5th. Benchmark reissued a buy rating and set a $23.00 price target on shares of Cinemark in a research note on Monday, July 1st. B. Riley cut shares of Cinemark from a buy rating to a neutral rating and set a $31.00 price objective on the stock. in a research note on Tuesday, August 27th. Roth Capital upgraded shares of Cinemark from a hold rating to a strong-buy rating in a research report on Monday, June 24th. Finally, Macquarie lifted their price objective on Cinemark from $21.00 to $24.00 and gave the stock an outperform rating in a research note on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Cinemark presently has an average rating of Moderate Buy and an average target price of $27.70.

Cinemark Price Performance

Shares of Cinemark stock opened at $29.68 on Thursday. Cinemark has a twelve month low of $13.19 and a twelve month high of $29.87. The company has a debt-to-equity ratio of 6.23, a quick ratio of 1.26 and a current ratio of 1.29. The firm has a market cap of $3.63 billion, a P/E ratio of 20.47, a price-to-earnings-growth ratio of 1.94 and a beta of 2.36. The firm’s 50-day simple moving average is $27.52 and its 200-day simple moving average is $22.05.

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

Insider Buying and Selling at Cinemark

In other news, insider Valmir Fernandes sold 25,000 shares of Cinemark stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $27.19, for a total transaction of $679,750.00. Following the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On Cinemark

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Third Point LLC bought a new position in Cinemark during the 1st quarter worth about $89,850,000. Dimensional Fund Advisors LP boosted its position in shares of Cinemark by 5.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,914,708 shares of the company’s stock worth $63,012,000 after buying an additional 148,076 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Cinemark by 1.4% during the second quarter. Victory Capital Management Inc. now owns 2,550,819 shares of the company’s stock worth $55,149,000 after buying an additional 35,993 shares in the last quarter. Steadfast Capital Management LP acquired a new stake in Cinemark in the 1st quarter valued at approximately $29,323,000. Finally, Hennessy Advisors Inc. lifted its stake in Cinemark by 18.1% in the 2nd quarter. Hennessy Advisors Inc. now owns 1,530,200 shares of the company’s stock valued at $33,083,000 after acquiring an additional 234,400 shares in the last quarter.

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.