Wedbush Raises Cinemark (NYSE:CNK) Price Target to $32.00

Cinemark (NYSE:CNK) had its price target increased by Wedbush from $31.00 to $32.00 in a research report sent to investors on Tuesday, MarketBeat reports. They currently have an outperform rating on the stock. Wedbush also issued estimates for Cinemark’s Q3 2024 earnings at $0.58 EPS, Q4 2024 earnings at $0.45 EPS, FY2024 earnings at $1.50 EPS, Q1 2025 earnings at $0.01 EPS, Q2 2025 earnings at $0.43 EPS, Q3 2025 earnings at $0.65 EPS, Q4 2025 earnings at $0.69 EPS, FY2025 earnings at $1.78 EPS and FY2026 earnings at $2.08 EPS.

Other equities research analysts have also issued reports about the stock. StockNews.com lowered shares of Cinemark from a “hold” rating to a “sell” rating in a research note on Thursday, October 24th. Macquarie increased their price target on shares of Cinemark from $21.00 to $24.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 9th. Benchmark restated a “buy” rating and issued a $23.00 price objective on shares of Cinemark in a research note on Monday, July 1st. Roth Mkm increased their target price on shares of Cinemark from $30.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, B. Riley cut Cinemark from a “buy” rating to a “neutral” rating and set a $31.00 price target on the stock. in a research report on Tuesday, August 27th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $30.80.

Cinemark Stock Up 0.3 %

Shares of NYSE CNK opened at $29.85 on Tuesday. The company has a market capitalization of $3.65 billion, a P/E ratio of 30.77, a P/E/G ratio of 2.07 and a beta of 2.36. The company has a debt-to-equity ratio of 6.23, a current ratio of 1.29 and a quick ratio of 1.26. The company has a 50 day simple moving average of $28.24 and a 200-day simple moving average of $23.16. Cinemark has a 1 year low of $13.19 and a 1 year high of $31.09.

Cinemark (NYSE:CNK) last issued its quarterly 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. Cinemark had a net margin of 5.05% and a return on equity of 41.87%. The company had revenue of $921.80 million for the quarter, compared to analyst estimates of $894.90 million. During the same period in the prior year, the firm earned $0.61 earnings per share. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, equities research analysts predict that Cinemark will post 1.47 earnings per share for the current year.

Insider Activity at Cinemark

In related news, insider Valmir Fernandes sold 25,000 shares of Cinemark stock in a transaction on Monday, August 19th. The stock was sold at an average price of $27.19, for a total transaction of $679,750.00. Following the completion of the transaction, the insider now directly owns 204,729 shares of the company’s stock, valued at approximately $5,566,581.51. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 2.30% of the company’s stock.

Institutional Trading of Cinemark

A number of large investors have recently made changes to their positions in the stock. GAMMA Investing LLC lifted its holdings in shares of Cinemark by 106.1% in 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 in the last quarter. Point72 Asia Singapore Pte. Ltd. increased its holdings in shares of Cinemark by 38.7% in the second 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 in the last quarter. USA Financial Formulas bought a new position in Cinemark in the 3rd quarter valued at $77,000. 1620 Investment Advisors Inc. bought a new position in Cinemark in the 2nd quarter valued at $79,000. Finally, CWM LLC boosted its holdings in Cinemark by 134.4% in the third quarter. CWM LLC now owns 2,993 shares of the company’s stock valued at $83,000 after acquiring an additional 1,716 shares during 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.