Wells Fargo & Company Increases Cinemark (NYSE:CNK) Price Target to $35.00

Cinemark (NYSE:CNK) had its price objective upped by analysts at Wells Fargo & Company from $31.00 to $35.00 in a report issued on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective suggests a potential upside of 17.25% from the company’s previous close.

CNK has been the subject of several other research reports. JPMorgan Chase & Co. boosted their price objective on Cinemark from $25.00 to $29.00 and gave the company a “neutral” rating in a report on Monday, October 14th. B. Riley cut Cinemark from a “buy” rating to a “neutral” rating and set a $31.00 price target for the company. in a report on Tuesday, August 27th. Barrington Research raised Cinemark from a “market perform” rating to an “outperform” rating and set a $36.00 price target for the company in a report on Thursday. Roth Mkm upped their price target on Cinemark from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, Macquarie upped their price target on Cinemark from $32.00 to $34.00 and gave the stock an “outperform” rating in a report on Friday. Two analysts have rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.80.

Cinemark Stock Performance

Shares of CNK stock opened at $29.85 on Friday. 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. The business has a 50-day simple moving average of $28.24 and a 200-day simple moving average of $23.19. The company has a quick ratio of 1.26, a current ratio of 1.29 and a debt-to-equity ratio of 6.23. Cinemark has a 52-week low of $13.19 and a 52-week high of $31.09.

Cinemark (NYSE:CNK) last issued its quarterly earnings data 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 business had revenue of $921.80 million during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.61 EPS. On average, equities analysts expect that Cinemark will post 1.47 EPS for the current year.

Insider Buying and Selling at Cinemark

In other Cinemark news, insider Valmir Fernandes sold 25,000 shares of the 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 of the company’s stock, valued at $5,566,581.51. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On Cinemark

A number of large investors have recently made changes to their positions in the stock. Third Point LLC purchased a new stake in shares of Cinemark in the first quarter valued at approximately $89,850,000. Dimensional Fund Advisors LP grew its position in shares of Cinemark by 5.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,914,708 shares of the company’s stock valued at $63,012,000 after purchasing an additional 148,076 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of Cinemark by 1.4% in the second quarter. Victory Capital Management Inc. now owns 2,550,819 shares of the company’s stock valued at $55,149,000 after purchasing an additional 35,993 shares in the last quarter. Steadfast Capital Management LP purchased a new stake in shares of Cinemark in the first quarter valued at approximately $29,323,000. Finally, Hennessy Advisors Inc. grew its position in shares of Cinemark by 18.1% in the second quarter. Hennessy Advisors Inc. now owns 1,530,200 shares of the company’s stock valued at $33,083,000 after purchasing an additional 234,400 shares in 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.