Cinemark (NYSE:CNK) Stock Price Expected to Rise, Macquarie Analyst Says

Cinemark (NYSE:CNK) had its price target lifted by equities research analysts at Macquarie from $32.00 to $34.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Macquarie’s price target indicates a potential upside of 14.02% from the company’s current price.

A number of other equities research analysts also recently weighed in on CNK. B. Riley downgraded shares of Cinemark from a “buy” rating to a “neutral” rating and set a $31.00 price target on the stock. in a research note on Tuesday, August 27th. The Goldman Sachs Group raised their target price on shares of Cinemark from $16.00 to $20.00 and gave the company a “sell” rating in a research report on Thursday, September 19th. StockNews.com cut Cinemark from a “hold” rating to a “sell” rating in a research note on Thursday, October 24th. 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 report on Thursday. Finally, Wedbush lifted their price target on Cinemark from $31.00 to $32.00 and gave the company an “outperform” rating in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Cinemark currently has a consensus rating of “Moderate Buy” and an average price target of $30.40.

Cinemark Price Performance

Shares of NYSE CNK traded up $0.07 during trading hours on Friday, hitting $29.82. 648,623 shares of the stock were exchanged, compared to its average volume of 2,850,813. The company’s fifty day simple moving average is $28.20 and its two-hundred day simple moving average is $23.07. The company has a market cap of $3.65 billion, a PE ratio of 30.63, a price-to-earnings-growth ratio of 2.07 and a beta of 2.36. The company has a debt-to-equity ratio of 6.23, a quick ratio of 1.26 and a current ratio of 1.29. 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, 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 return on equity of 41.87% and a net margin of 5.05%. 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 posted $0.61 EPS. On average, sell-side analysts predict that Cinemark will post 1.47 EPS for the current year.

Insider Buying and Selling at Cinemark

In other news, insider Valmir Fernandes sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $27.19, for a total value of $679,750.00. Following the transaction, the insider now owns 204,729 shares in the company, valued at approximately $5,566,581.51. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On Cinemark

Several large investors have recently added to or reduced their stakes in CNK. GAMMA Investing LLC lifted its stake in 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 buying an additional 1,040 shares during the period. USA Financial Formulas acquired a new stake in Cinemark in the third quarter worth $77,000. CWM LLC increased its stake 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 purchasing an additional 1,716 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. raised its holdings in shares of Cinemark by 38.7% during 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 during the period. Finally, 1620 Investment Advisors Inc. bought a new position in shares of Cinemark during the 2nd quarter worth about $79,000.

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.