Cinemark Holdings, Inc. (NYSE:CNK) Receives $32.80 Average Price Target from Analysts

Shares of Cinemark Holdings, Inc. (NYSE:CNK) have been assigned a consensus rating of “Moderate Buy” from the eleven research firms that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, six have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $32.80.

A number of equities analysts recently issued reports on CNK shares. Morgan Stanley increased their target price on shares of Cinemark from $29.00 to $35.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Benchmark boosted their price objective on Cinemark from $32.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Barrington Research raised Cinemark from a “market perform” rating to an “outperform” rating and set a $36.00 target price for the company in a research note on Thursday, October 31st. JPMorgan Chase & Co. lifted their price objective on shares of Cinemark from $25.00 to $29.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. Finally, StockNews.com upgraded shares of Cinemark from a “sell” rating to a “hold” rating in a research report on Sunday, November 10th.

Insider Buying and Selling at Cinemark

In other news, insider Valmir Fernandes sold 25,000 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly owns 179,729 shares of the company’s stock, valued at $5,873,543.72. This trade represents a 12.21 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CNK. Quarry LP lifted its holdings in Cinemark by 714.8% in the 3rd quarter. Quarry LP now owns 1,491 shares of the company’s stock worth $42,000 after purchasing an additional 1,308 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Cinemark by 106.1% in the 3rd 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 during the period. Point72 Asia Singapore Pte. Ltd. grew its position in Cinemark by 38.7% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,145 shares of the company’s stock worth $68,000 after purchasing an additional 877 shares during the last quarter. USA Financial Formulas acquired a new stake in Cinemark in the 3rd quarter worth $77,000. Finally, CWM LLC raised its position in shares of Cinemark by 134.4% during the third quarter. CWM LLC now owns 2,993 shares of the company’s stock valued at $83,000 after buying an additional 1,716 shares during the last quarter.

Cinemark Stock Performance

Shares of NYSE CNK opened at $30.97 on Friday. The stock has a market capitalization of $3.79 billion, a P/E ratio of 19.98, a P/E/G ratio of 1.66 and a beta of 2.38. Cinemark has a 52-week low of $13.19 and a 52-week high of $36.28. 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’s 50-day moving average price is $32.01 and its two-hundred day moving average price is $27.67.

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

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.