Cinemark (NYSE:CNK) Given New $40.00 Price Target at Benchmark

Cinemark (NYSE:CNK) had its price objective lifted by Benchmark from $32.00 to $40.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Benchmark’s target price indicates a potential upside of 13.22% from the company’s previous close.

A number of other analysts have also commented on CNK. Barrington Research raised shares of Cinemark from a “market perform” rating to an “outperform” rating and set a $36.00 price objective for the company in a research note on Thursday, October 31st. StockNews.com raised shares of Cinemark from a “sell” rating to a “hold” rating in a research note on Sunday, November 10th. Wedbush cut Cinemark from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 1st. Morgan Stanley increased their price objective on Cinemark from $29.00 to $35.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Finally, JPMorgan Chase & Co. lifted their target price on Cinemark from $25.00 to $29.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. One equities 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $32.80.

Cinemark Stock Performance

Shares of NYSE:CNK traded down $0.69 on Tuesday, reaching $35.33. 367,328 shares of the company’s stock were exchanged, compared to its average volume of 2,851,059. Cinemark has a fifty-two week low of $13.19 and a fifty-two week high of $36.28. The business’s 50-day moving average is $30.06 and its two-hundred day moving average is $25.41. 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 firm has a market capitalization of $4.32 billion, a price-to-earnings ratio of 22.74, a PEG ratio of 1.73 and a beta of 2.38.

Cinemark (NYSE:CNK) last released its quarterly earnings data on Thursday, October 31st. The company reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.61. The business had revenue of $921.80 million for the quarter, compared to analysts’ expectations of $894.90 million. Cinemark had a net margin of 8.36% and a return on equity of 60.21%. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.61 EPS. As a group, equities research analysts forecast that Cinemark will post 2 EPS for the current year.

Insider Activity at Cinemark

In related news, insider Valmir Fernandes sold 25,000 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $32.68, for a total value of $817,000.00. Following the sale, the insider now directly owns 179,729 shares in the company, valued at $5,873,543.72. This trade represents a 12.21 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 2.30% of the company’s stock.

Institutional Trading of Cinemark

Large investors have recently bought and sold shares of the business. Arizona State Retirement System grew its stake in shares of Cinemark by 1.8% during the 2nd quarter. Arizona State Retirement System now owns 30,636 shares of the company’s stock worth $662,000 after acquiring an additional 556 shares in the last quarter. Natixis Advisors LLC grew its position in Cinemark by 2.9% in the third quarter. Natixis Advisors LLC now owns 20,638 shares of the company’s stock valued at $575,000 after purchasing an additional 583 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. increased its stake in 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 buying an additional 877 shares during the last quarter. GAMMA Investing LLC lifted its position in Cinemark by 106.1% during the 3rd quarter. GAMMA Investing LLC now owns 2,020 shares of the company’s stock worth $56,000 after buying an additional 1,040 shares in the last quarter. Finally, QRG Capital Management Inc. boosted its stake in shares of Cinemark by 5.9% during the 2nd quarter. QRG Capital Management Inc. now owns 20,557 shares of the company’s stock worth $444,000 after buying an additional 1,148 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.