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

Shares of Cinemark Holdings, Inc. (NYSE:CNK) have earned a consensus recommendation of “Moderate Buy” from the eleven ratings firms that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $32.80.

CNK has been the subject of several recent analyst reports. Wedbush cut shares of Cinemark from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 1st. Wells Fargo & Company upped their price target on shares of Cinemark from $35.00 to $38.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 27th. Morgan Stanley lifted their price objective on 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 target price on Cinemark from $30.00 to $33.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, Macquarie raised their target price on Cinemark from $32.00 to $34.00 and gave the company an “outperform” rating in a research report on Friday, November 1st.

Insiders Place Their Bets

In other news, insider Valmir Fernandes sold 25,000 shares of the 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 completion of the sale, the insider now owns 179,729 shares of the company’s stock, valued at $5,873,543.72. This represents a 12.21 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 2.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Aigen Investment Management LP increased its position in shares of Cinemark by 198.9% during the third quarter. Aigen Investment Management LP now owns 49,400 shares of the company’s stock valued at $1,375,000 after acquiring an additional 32,870 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Cinemark by 88.9% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 62,239 shares of the company’s stock worth $1,733,000 after purchasing an additional 29,295 shares during the period. State of New Jersey Common Pension Fund D acquired a new stake in Cinemark in the 3rd quarter valued at approximately $1,960,000. Entropy Technologies LP purchased a new stake in Cinemark in the third quarter valued at approximately $893,000. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its stake in Cinemark by 18.1% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 676,652 shares of the company’s stock worth $14,629,000 after purchasing an additional 103,875 shares in the last quarter.

Cinemark Trading Down 0.7 %

Shares of Cinemark stock opened at $35.18 on Wednesday. Cinemark has a fifty-two week low of $13.19 and a fifty-two week high of $36.28. The company has a debt-to-equity ratio of 3.46, a quick ratio of 0.96 and a current ratio of 0.98. The company has a market cap of $4.30 billion, a P/E ratio of 22.70, a price-to-earnings-growth ratio of 1.78 and a beta of 2.38. The firm has a 50-day simple moving average of $30.69 and a two-hundred day simple moving average of $25.80.

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, topping analysts’ consensus estimates of $0.58 by $0.61. The company had revenue of $921.80 million for the quarter, compared to the consensus estimate of $894.90 million. Cinemark had a return on equity of 60.21% and a net margin of 8.36%. Cinemark’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.61 earnings per share. As a group, equities analysts predict that Cinemark will post 2 earnings per share for the current fiscal year.

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.