JPMorgan Chase & Co. Has Lowered Expectations for Cinemark (NYSE:CNK) Stock Price

Cinemark (NYSE:CNK) had its price objective lowered by stock analysts at JPMorgan Chase & Co. from $31.00 to $30.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 9.20% from the company’s previous close.

CNK has been the subject of several other research reports. StockNews.com upgraded shares of Cinemark from a “sell” rating to a “hold” rating in a research report on Sunday, November 10th. Wedbush restated a “neutral” rating and set a $32.00 price target on shares of Cinemark in a research report on Tuesday. Wells Fargo & Company reduced their price target on shares of Cinemark from $38.00 to $36.00 and set an “overweight” rating for the company in a research report on Wednesday, January 29th. Benchmark dropped their price objective on shares of Cinemark from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Macquarie upped their price objective on shares of Cinemark from $32.00 to $34.00 and gave the company an “outperform” rating in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Cinemark currently has a consensus rating of “Moderate Buy” and an average price target of $32.70.

Cinemark Stock Performance

NYSE CNK opened at $27.47 on Thursday. Cinemark has a 1 year low of $15.74 and a 1 year high of $36.28. The company has a debt-to-equity ratio of 3.87, a current ratio of 0.98 and a quick ratio of 0.96. The firm has a market cap of $3.36 billion, a price-to-earnings ratio of 13.53 and a beta of 2.38. The company has a fifty day moving average price of $30.33 and a 200-day moving average price of $29.75.

Cinemark (NYSE:CNK) last posted its earnings results on Wednesday, February 19th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.06). Cinemark had a return on equity of 65.83% and a net margin of 10.16%. The firm had revenue of $814.30 million during the quarter, compared to the consensus estimate of $797.18 million. During the same quarter in the previous year, the company earned ($0.15) EPS. The business’s revenue was up 27.5% compared to the same quarter last year. As a group, equities research analysts predict that Cinemark will post 1.98 EPS for the current fiscal year.

Institutional Investors Weigh In On Cinemark

Institutional investors and hedge funds have recently modified their holdings of the company. Elequin Capital LP lifted its position in Cinemark by 211.6% during the fourth quarter. Elequin Capital LP now owns 997 shares of the company’s stock valued at $31,000 after purchasing an additional 677 shares during the last quarter. Russell Investments Group Ltd. lifted its position in Cinemark by 402.4% during the fourth quarter. Russell Investments Group Ltd. now owns 1,030 shares of the company’s stock valued at $32,000 after purchasing an additional 825 shares during the last quarter. Quarry LP lifted its position in Cinemark by 714.8% during the third quarter. Quarry LP now owns 1,491 shares of the company’s stock valued at $42,000 after purchasing an additional 1,308 shares during the last quarter. Aster Capital Management DIFC Ltd lifted its position in Cinemark by 380.0% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,896 shares of the company’s stock valued at $59,000 after purchasing an additional 1,501 shares during the last quarter. Finally, R Squared Ltd bought a new stake in Cinemark during the fourth quarter valued at approximately $63,000.

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.