Benchmark Forecasts Strong Price Appreciation for Cinemark (NYSE:CNK) Stock

Cinemark (NYSE:CNK) had its price target boosted by stock analysts at Benchmark from $32.00 to $40.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Benchmark’s price target suggests a potential upside of 13.19% from the stock’s previous close.

A number of other research firms have also recently weighed in on CNK. Morgan Stanley increased their price objective on shares of Cinemark from $29.00 to $35.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Roth Mkm increased their price objective on shares of Cinemark from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. JPMorgan Chase & Co. increased their price objective on shares of Cinemark from $25.00 to $29.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Barrington Research raised shares of Cinemark from a “market perform” rating to an “outperform” rating and set a $36.00 price objective on the stock in a report on Thursday, October 31st. Finally, Macquarie increased their price objective on shares of Cinemark from $32.00 to $34.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $32.80.

Cinemark Stock Down 0.5 %

Shares of NYSE:CNK opened at $35.34 on Tuesday. The stock has a market capitalization of $4.32 billion, a price-to-earnings ratio of 22.80, a price-to-earnings-growth ratio of 1.81 and a beta of 2.38. Cinemark has a 1-year low of $13.19 and a 1-year high of $36.28. The company’s fifty day moving average is $30.38 and its two-hundred day moving average is $25.61. The company has a debt-to-equity ratio of 3.46, a quick ratio of 0.96 and a current ratio of 0.98.

Cinemark (NYSE:CNK) last issued its earnings results on Thursday, October 31st. The company reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.61. The company had revenue of $921.80 million for the quarter, compared to analysts’ expectations of $894.90 million. Cinemark had a net margin of 8.36% and a return on equity of 60.21%. The firm’s revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.61 earnings per share. Equities analysts anticipate that Cinemark will post 2 EPS for the current year.

Insiders Place Their Bets

In other news, insider Valmir Fernandes sold 25,000 shares of Cinemark stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $32.68, for a total value of $817,000.00. Following the transaction, the insider now owns 179,729 shares of the company’s stock, valued at $5,873,543.72. The trade was a 12.21 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 2.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Cinemark

Several hedge funds have recently made changes to their positions in CNK. Comerica Bank grew its stake in shares of Cinemark by 36.4% in the 1st quarter. Comerica Bank now owns 68,261 shares of the company’s stock worth $1,227,000 after purchasing an additional 18,198 shares during the last quarter. QRG Capital Management Inc. grew its stake in shares of Cinemark by 5.9% in the 2nd quarter. QRG Capital Management Inc. now owns 20,557 shares of the company’s stock worth $444,000 after purchasing an additional 1,148 shares during the last quarter. Wedge Capital Management L L P NC grew its stake in shares of Cinemark by 16.4% in the 2nd quarter. Wedge Capital Management L L P NC now owns 103,568 shares of the company’s stock worth $2,239,000 after purchasing an additional 14,621 shares during the last quarter. Fifth Third Bancorp increased its position in shares of Cinemark by 414.4% in the second quarter. Fifth Third Bancorp now owns 4,480 shares of the company’s stock worth $97,000 after acquiring an additional 3,609 shares in the last quarter. Finally, 1620 Investment Advisors Inc. purchased a new position in shares of Cinemark in the second quarter worth approximately $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.