Brokerages Set Cinemark Holdings, Inc. (NYSE:CNK) Target Price at $32.80

Shares of Cinemark Holdings, Inc. (NYSE:CNK) have been assigned an average recommendation of “Moderate Buy” from the eleven research firms that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, three have issued 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 covered the stock in the last year is $32.80.

A number of research firms have commented on CNK. Wells Fargo & Company boosted their price target on shares of Cinemark from $35.00 to $38.00 and gave the company an “overweight” rating in a research report on Wednesday, November 27th. StockNews.com upgraded shares of Cinemark from a “sell” rating to a “hold” rating in a research report on Sunday, November 10th. Roth Mkm boosted their price target on shares of Cinemark from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Macquarie boosted their price target on shares of Cinemark from $32.00 to $34.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, Morgan Stanley boosted their target price on shares of Cinemark from $29.00 to $35.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th.

Cinemark Price Performance

Shares of Cinemark stock opened at $29.03 on Thursday. 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 firm’s 50-day simple moving average is $31.65 and its 200-day simple moving average is $28.70. Cinemark has a twelve month low of $13.45 and a twelve month high of $36.28. The firm has a market cap of $3.55 billion, a P/E ratio of 18.73 and a beta of 2.40.

Cinemark (NYSE:CNK) last released its quarterly earnings results on Thursday, October 31st. The company reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.61. The firm had revenue of $921.80 million for the quarter, compared to analyst estimates of $894.90 million. Cinemark had a net margin of 8.36% and a return on equity of 60.21%. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.61 earnings per share. As a group, research analysts expect that Cinemark will post 2.06 EPS for the current fiscal year.

Insider Buying and Selling

In other Cinemark news, insider Valmir Fernandes sold 25,000 shares of the company’s 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 approximately $5,873,543.72. This represents a 12.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Cinemark

Several large investors have recently bought and sold shares of CNK. Dimensional Fund Advisors LP boosted its holdings in shares of Cinemark by 5.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,914,708 shares of the company’s stock valued at $63,012,000 after buying an additional 148,076 shares during the period. Intech Investment Management LLC acquired a new position in shares of Cinemark in the second quarter valued at approximately $435,000. Public Sector Pension Investment Board boosted its holdings in shares of Cinemark by 8.0% in the second quarter. Public Sector Pension Investment Board now owns 234,764 shares of the company’s stock valued at $5,076,000 after buying an additional 17,327 shares during the period. Point72 DIFC Ltd acquired a new position in shares of Cinemark in the second quarter valued at approximately $144,000. Finally, Point72 Asia Singapore Pte. Ltd. boosted its holdings in shares of Cinemark by 38.7% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,145 shares of the company’s stock valued at $68,000 after buying an additional 877 shares during the period.

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.