Wells Fargo & Company Issues Positive Forecast for Cinemark (NYSE:CNK) Stock Price

Cinemark (NYSE:CNK) had its price target hoisted by Wells Fargo & Company from $31.00 to $35.00 in a research report report published on Friday morning, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

A number of other equities research analysts have also recently issued reports on the stock. B. Riley downgraded 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. StockNews.com lowered Cinemark from a “hold” rating to a “sell” rating in a report on Thursday, October 24th. Wedbush raised their price objective on shares of Cinemark from $31.00 to $32.00 and gave the stock an “outperform” rating in a research note on Tuesday. Barrington Research upgraded shares of 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. Finally, Macquarie raised their price target on shares of Cinemark from $32.00 to $34.00 and gave the stock an “outperform” rating in a research report on Friday. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $30.80.

Cinemark Stock Up 0.3 %

Shares of NYSE CNK traded up $0.10 during mid-day trading on Friday, reaching $29.85. 3,262,820 shares of the company traded hands, compared to its average volume of 2,863,309. The company’s fifty day moving average is $28.24 and its two-hundred day moving average is $23.16. 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 fifty-two week low of $13.19 and a fifty-two week high of $31.09. The stock has a market cap of $3.65 billion, a PE ratio of 30.77, a price-to-earnings-growth ratio of 2.07 and a beta of 2.36.

Cinemark (NYSE:CNK) last released its quarterly earnings results on Thursday, October 31st. The company reported $1.19 EPS for the quarter, beating analysts’ consensus estimates 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 5.05% and a return on equity of 41.87%. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.61 earnings per share. On average, analysts expect that Cinemark will post 1.47 earnings per share for the current year.

Insider Buying and Selling at Cinemark

In related news, insider Valmir Fernandes sold 25,000 shares of the firm’s stock in a transaction that occurred 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 owns 204,729 shares in the company, valued at $5,566,581.51. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 made changes to their positions in CNK. GAMMA Investing LLC grew its holdings in shares of Cinemark by 106.1% in the 3rd quarter. GAMMA Investing LLC now owns 2,020 shares of the company’s stock worth $56,000 after purchasing an additional 1,040 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its position in 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 buying an additional 877 shares in the last quarter. USA Financial Formulas bought a new stake in Cinemark during the third quarter worth about $77,000. 1620 Investment Advisors Inc. acquired a new stake in shares of Cinemark during the second quarter worth approximately $79,000. Finally, CWM LLC raised its stake in shares of 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.

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.