Cinemark (NYSE:CNK) Price Target Raised to $16.00

Cinemark (NYSE:CNK) had its target price upped by B. Riley from $14.00 to $16.00 in a research report sent to investors on Friday, Benzinga reports. They currently have a neutral rating on the stock. B. Riley also issued estimates for Cinemark’s Q3 2024 earnings at $0.21 EPS, Q4 2024 earnings at $0.30 EPS and Q4 2025 earnings at $0.50 EPS.

CNK has been the topic of several other reports. JPMorgan Chase & Co. raised their target price on Cinemark from $17.00 to $19.00 and gave the company a neutral rating in a research report on Monday, April 8th. Barrington Research reaffirmed an outperform rating and issued a $24.00 price objective on shares of Cinemark in a report on Monday, April 22nd. Wells Fargo & Company raised shares of Cinemark from an underweight rating to an overweight rating and raised their target price for the company from $13.00 to $23.00 in a research note on Friday, April 5th. Roth Mkm upped their price target on Cinemark from $17.00 to $19.00 and gave the company a neutral rating in a research report on Wednesday, April 10th. Finally, The Goldman Sachs Group reduced their target price on shares of Cinemark from $16.00 to $12.00 and set a sell rating on the stock in a research note on Thursday, January 11th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Hold and an average price target of $20.33.

Cinemark Stock Performance

Shares of CNK stock opened at $17.02 on Friday. The company has a market cap of $2.08 billion, a P/E ratio of 11.73, a PEG ratio of 2.06 and a beta of 2.25. The business has a 50 day moving average of $17.93 and a two-hundred day moving average of $15.85. Cinemark has a 52 week low of $13.19 and a 52 week high of $20.40. The company has a quick ratio of 1.45, a current ratio of 1.48 and a debt-to-equity ratio of 7.42.

Cinemark (NYSE:CNK) last released its quarterly earnings data on Thursday, May 2nd. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.40. Cinemark had a return on equity of 69.48% and a net margin of 7.12%. The business had revenue of $579.00 million during the quarter, compared to analyst estimates of $561.91 million. During the same quarter in the previous year, the firm posted ($0.03) EPS. The business’s revenue for the quarter was down 5.2% compared to the same quarter last year. As a group, analysts anticipate that Cinemark will post 0.86 EPS for the current year.

Insider Buying and Selling at Cinemark

In other news, insider Wanda Marie Gierhart sold 19,593 shares of Cinemark stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $16.75, for a total transaction of $328,182.75. Following the completion of the sale, the insider now owns 179,591 shares in the company, valued at approximately $3,008,149.25. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 2.30% of the company’s stock.

Institutional Trading of Cinemark

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Mitchell Capital Management Co. boosted its stake in Cinemark by 3.0% during the 1st quarter. Mitchell Capital Management Co. now owns 395,801 shares of the company’s stock worth $7,113,000 after acquiring an additional 11,443 shares during the last quarter. Texas Permanent School Fund Corp grew its holdings in shares of Cinemark by 1.5% in the 1st quarter. Texas Permanent School Fund Corp now owns 92,591 shares of the company’s stock valued at $1,664,000 after buying an additional 1,345 shares during the period. Easterly Investment Partners LLC increased its position in shares of Cinemark by 1.1% in the 1st quarter. Easterly Investment Partners LLC now owns 491,903 shares of the company’s stock valued at $8,839,000 after buying an additional 5,236 shares in the last quarter. Commonwealth Equity Services LLC raised its stake in Cinemark by 7.7% during the 1st quarter. Commonwealth Equity Services LLC now owns 369,205 shares of the company’s stock worth $6,635,000 after buying an additional 26,335 shares during the period. Finally, New York State Teachers Retirement System lifted its holdings in Cinemark by 2.3% during the first quarter. New York State Teachers Retirement System now owns 111,815 shares of the company’s stock worth $2,009,000 after acquiring an additional 2,464 shares in 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.