The Goldman Sachs Group Boosts Cinemark (NYSE:CNK) Price Target to $20.00

Cinemark (NYSE:CNK) had its price target raised by The Goldman Sachs Group from $16.00 to $20.00 in a research report released on Thursday, Benzinga reports. They currently have a sell rating on the stock.

A number of other brokerages have also weighed in on CNK. Roth Capital upgraded shares of Cinemark from a hold rating to a strong-buy rating in a research note on Monday, June 24th. Roth Mkm boosted their target price on shares of Cinemark from $28.00 to $30.00 and gave the company a buy rating in a research note on Monday, August 5th. Morgan Stanley boosted their target price on shares of Cinemark from $26.00 to $29.00 and gave the company an overweight rating in a research note on Monday, August 5th. StockNews.com lowered shares of Cinemark from a hold rating to a sell rating in a research note on Tuesday, August 13th. Finally, JPMorgan Chase & Co. upped their price objective on Cinemark from $22.00 to $25.00 and gave the stock a neutral rating in a research note on Monday, August 5th. Two equities research analysts have 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 to the stock. According to MarketBeat, the company has an average rating of Moderate Buy and an average target price of $26.00.

Cinemark Price Performance

Shares of NYSE CNK opened at $28.32 on Thursday. Cinemark has a twelve month low of $13.19 and a twelve month high of $29.07. The firm has a market cap of $3.46 billion, a P/E ratio of 19.53, a PEG ratio of 2.12 and a beta of 2.36. The company has a 50 day moving average of $25.89 and a 200 day moving average of $21.07. 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 announced its quarterly earnings data on Friday, August 2nd. The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.25. The company had revenue of $734.20 million during the quarter, compared to analyst estimates of $691.74 million. Cinemark had a net margin of 5.05% and a return on equity of 41.87%. The firm’s revenue for the quarter was down 22.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.80 EPS. As a group, research analysts expect that Cinemark will post 1.33 EPS for the current fiscal year.

Insiders Place Their Bets

In other Cinemark news, insider Valmir Fernandes sold 25,000 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $27.19, for a total transaction of $679,750.00. Following the completion of the transaction, the insider now owns 204,729 shares of the company’s stock, valued at approximately $5,566,581.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CNK. Point72 DIFC Ltd bought a new position in shares of Cinemark in the 2nd quarter valued at about $144,000. Point72 Asia Singapore Pte. Ltd. lifted its holdings in shares of Cinemark by 38.7% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,145 shares of the company’s stock valued at $68,000 after acquiring an additional 877 shares during the last quarter. Algert Global LLC bought a new position in shares of Cinemark in the 2nd quarter valued at about $238,000. Susquehanna Fundamental Investments LLC lifted its holdings in shares of Cinemark by 5.0% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 108,988 shares of the company’s stock valued at $2,356,000 after acquiring an additional 5,199 shares during the last quarter. Finally, Luxor Capital Group LP lifted its holdings in shares of Cinemark by 491.0% in the 2nd quarter. Luxor Capital Group LP now owns 99,295 shares of the company’s stock valued at $2,147,000 after acquiring an additional 82,493 shares during 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.