Wells Fargo & Company Increases Cinemark (NYSE:CNK) Price Target to $38.00

Cinemark (NYSE:CNK) had its target price lifted by equities research analysts at Wells Fargo & Company from $35.00 to $38.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 11.18% from the company’s previous close.

Several other equities research analysts have also weighed in on the company. JPMorgan Chase & Co. increased their target price on Cinemark from $25.00 to $29.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. The Goldman Sachs Group lifted 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. Macquarie boosted their target price on shares of Cinemark from $32.00 to $34.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. StockNews.com raised Cinemark from a “sell” rating to a “hold” rating in a report on Sunday, November 10th. Finally, Morgan Stanley increased 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. 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 assigned a strong buy rating to the company. Based on data from MarketBeat, Cinemark has a consensus rating of “Moderate Buy” and an average target price of $31.10.

Cinemark Trading Up 4.1 %

Cinemark stock opened at $34.18 on Wednesday. Cinemark has a 1 year low of $13.19 and a 1 year high of $34.43. The firm’s 50-day moving average is $29.77 and its 200-day moving average is $25.08. 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 $4.18 billion, a P/E ratio of 22.05, a PEG ratio of 1.67 and a beta of 2.35.

Cinemark (NYSE:CNK) last issued its 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 firm had revenue of $921.80 million for the quarter, compared to analysts’ expectations of $894.90 million. Cinemark had a net margin of 8.36% and a return on equity of 60.21%. Cinemark’s revenue was up 5.4% on a year-over-year basis. During the same quarter last year, the company posted $0.61 earnings per share. On average, equities analysts expect that Cinemark will post 2 earnings per share for the current year.

Insider Activity

In other news, insider Valmir Fernandes sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $32.68, for a total transaction of $817,000.00. Following the completion of the transaction, the insider now owns 179,729 shares in the company, valued at approximately $5,873,543.72. This trade represents a 12.21 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 2.30% of the stock is owned by insiders.

Institutional Trading of Cinemark

A number of large investors have recently added to or reduced their stakes in CNK. Quarry LP boosted its stake in shares of Cinemark by 714.8% during the 3rd quarter. Quarry LP now owns 1,491 shares of the company’s stock worth $42,000 after acquiring an additional 1,308 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Cinemark by 106.1% during the third quarter. GAMMA Investing LLC now owns 2,020 shares of the company’s stock valued at $56,000 after purchasing an additional 1,040 shares during the last quarter. USA Financial Formulas purchased a new stake in shares of Cinemark during the third quarter valued at $77,000. CWM LLC boosted its position in shares of Cinemark by 134.4% in the 3rd quarter. CWM LLC now owns 2,993 shares of the company’s stock valued at $83,000 after purchasing an additional 1,716 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. increased its stake in Cinemark by 38.7% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,145 shares of the company’s stock worth $68,000 after purchasing an additional 877 shares in the last quarter.

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.