Cinemark (NYSE:CNK) Sets New 12-Month High on Analyst Upgrade

Cinemark Holdings, Inc. (NYSE:CNK)’s share price reached a new 52-week high during trading on Tuesday after Wedbush raised their price target on the stock from $31.00 to $32.00. Wedbush currently has an outperform rating on the stock. Cinemark traded as high as $29.91 and last traded at $29.80, with a volume of 597739 shares trading hands. The stock had previously closed at $29.37.

Several other equities analysts have also commented on CNK. The Goldman Sachs Group increased their price objective on shares of Cinemark from $16.00 to $20.00 and gave the company a “sell” rating in a research report on Thursday, September 19th. Benchmark reiterated a “buy” rating and set a $23.00 price objective on shares of Cinemark in a research note on Monday, July 1st. Roth Mkm boosted their price objective on shares of Cinemark from $30.00 to $33.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Macquarie raised their target price on Cinemark from $21.00 to $24.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 9th. Finally, StockNews.com cut Cinemark from a “hold” rating to a “sell” rating in a research report on Thursday, October 24th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Cinemark presently has an average rating of “Moderate Buy” and an average price target of $28.20.

Insider Activity

In related news, insider Valmir Fernandes sold 25,000 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $27.19, for a total transaction of $679,750.00. Following the sale, the insider now directly owns 204,729 shares of the company’s stock, valued at $5,566,581.51. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Sei Investments Co. raised its holdings in Cinemark by 38.1% in the 1st quarter. Sei Investments Co. now owns 115,124 shares of the company’s stock worth $2,069,000 after purchasing an additional 31,739 shares during the period. PEAK6 Investments LLC purchased a new stake in shares of Cinemark in the first quarter valued at approximately $2,274,000. Barrow Hanley Mewhinney & Strauss LLC raised its stake in shares of Cinemark by 18.1% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 676,652 shares of the company’s stock worth $14,629,000 after buying an additional 103,875 shares during the period. US Bancorp DE lifted its position in shares of Cinemark by 68.8% during the 1st quarter. US Bancorp DE now owns 34,846 shares of the company’s stock valued at $626,000 after buying an additional 14,200 shares in the last quarter. Finally, Maverick Capital Ltd. acquired a new stake in Cinemark in the 2nd quarter valued at $2,253,000.

Cinemark Stock Up 1.0 %

The company has a debt-to-equity ratio of 6.23, a quick ratio of 1.26 and a current ratio of 1.29. The business’s 50 day moving average is $28.04 and its 200-day moving average is $22.89. The stock has a market cap of $3.63 billion, a price-to-earnings ratio of 20.54, a PEG ratio of 1.94 and a beta of 2.36.

Cinemark (NYSE:CNK) last issued its quarterly earnings results on Friday, August 2nd. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.25. The firm had revenue of $734.20 million for the quarter, compared to analyst estimates of $691.74 million. Cinemark had a return on equity of 41.87% and a net margin of 5.05%. The business’s revenue was down 22.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.80 earnings per share. On average, sell-side analysts predict that Cinemark Holdings, Inc. will post 1.41 EPS for the current fiscal year.

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.