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

Shares of Cinemark Holdings, Inc. (NYSE:CNK) hit a new 52-week high during trading on Friday after Morgan Stanley raised their price target on the stock from $29.00 to $35.00. Morgan Stanley currently has an overweight rating on the stock. Cinemark traded as high as $29.61 and last traded at $28.96, with a volume of 240714 shares. The stock had previously closed at $28.63.

Other analysts also recently issued research reports about the stock. The Goldman Sachs Group boosted their price objective on shares of Cinemark from $16.00 to $20.00 and gave the company a “sell” rating in a report on Thursday, September 19th. Wells Fargo & Company boosted their price objective on shares of Cinemark from $28.00 to $31.00 and gave the company an “overweight” rating in a report on Thursday. Barrington Research downgraded shares of Cinemark from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 28th. Benchmark restated a “buy” rating and issued a $23.00 target price on shares of Cinemark in a research report on Monday, July 1st. Finally, StockNews.com upgraded shares of Cinemark from a “sell” rating to a “hold” rating in a research report on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $27.70.

Insider Buying and Selling

In other Cinemark news, insider Valmir Fernandes sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were 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. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cinemark

A number of institutional investors have recently modified their holdings of CNK. Virtu Financial LLC bought a new stake in shares of Cinemark in the 4th quarter valued at $192,000. Hennessy Advisors Inc. boosted its stake in Cinemark by 14.1% during the first quarter. Hennessy Advisors Inc. now owns 1,295,800 shares of the company’s stock worth $23,286,000 after acquiring an additional 160,200 shares in the last quarter. Commonwealth Equity Services LLC boosted its stake in Cinemark by 7.7% during the first quarter. Commonwealth Equity Services LLC now owns 369,205 shares of the company’s stock worth $6,635,000 after acquiring an additional 26,335 shares in the last quarter. Easterly Investment Partners LLC boosted its stake in Cinemark by 1.1% during the first quarter. Easterly Investment Partners LLC now owns 491,903 shares of the company’s stock worth $8,839,000 after acquiring an additional 5,236 shares in the last quarter. Finally, Texas Permanent School Fund Corp boosted its stake in Cinemark by 1.5% during the first quarter. Texas Permanent School Fund Corp now owns 92,591 shares of the company’s stock worth $1,664,000 after acquiring an additional 1,345 shares in the last quarter.

Cinemark Stock Performance

The firm has a market capitalization of $3.63 billion, a P/E ratio of 20.47, a price-to-earnings-growth ratio of 1.94 and a beta of 2.36. The company’s 50 day moving average is $27.52 and its 200-day moving average is $22.05. 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 (NYSE:CNK) last released its quarterly earnings data on Friday, August 2nd. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.25. Cinemark had a net margin of 5.05% and a return on equity of 41.87%. The firm had revenue of $734.20 million for the quarter, compared to the consensus estimate of $691.74 million. During the same quarter in the prior year, the company posted $0.80 earnings per share. The business’s revenue was down 22.1% on a year-over-year basis. As a group, equities analysts anticipate that Cinemark Holdings, Inc. will post 1.41 EPS for the current 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.