Brokerages Set Cinemark Holdings, Inc. (NYSE:CNK) PT at $24.60

Cinemark Holdings, Inc. (NYSE:CNK) has earned a consensus recommendation of “Moderate Buy” from the eleven analysts that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $24.60.

A number of research firms have recently weighed in on CNK. Barrington Research downgraded shares of Cinemark from an “outperform” rating to a “market perform” rating in a research report on Wednesday. StockNews.com lowered shares of Cinemark from a “hold” rating to a “sell” rating in a report on Tuesday, August 13th. Roth Mkm upped their price target on Cinemark from $28.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Morgan Stanley raised their price objective on Cinemark from $26.00 to $29.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Finally, B. Riley lowered Cinemark from a “buy” rating to a “neutral” rating and set a $31.00 target price on the stock. in a research report on Tuesday.

Insider Buying and Selling at Cinemark

In related news, insider Valmir Fernandes sold 25,000 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $27.19, for a total value of $679,750.00. Following the transaction, the insider now owns 204,729 shares in the company, valued at approximately $5,566,581.51. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On Cinemark

Several hedge funds have recently added to or reduced their stakes in the business. Algert Global LLC purchased a new position in Cinemark during the second quarter valued at approximately $238,000. Susquehanna Fundamental Investments LLC increased its holdings in shares of Cinemark by 5.0% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 108,988 shares of the company’s stock valued at $2,356,000 after purchasing an additional 5,199 shares in the last quarter. Luxor Capital Group LP lifted its stake 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 purchasing an additional 82,493 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Cinemark by 4.4% during the second quarter. The Manufacturers Life Insurance Company now owns 62,287 shares of the company’s stock worth $1,347,000 after buying an additional 2,603 shares in the last quarter. Finally, Maverick Capital Ltd. acquired a new stake in Cinemark during the second quarter valued at $2,253,000.

Cinemark Stock Down 1.2 %

Cinemark stock opened at $27.38 on Monday. The company has a quick ratio of 1.45, a current ratio of 1.48 and a debt-to-equity ratio of 7.42. The firm has a market cap of $3.35 billion, a P/E ratio of 18.88, a P/E/G ratio of 2.14 and a beta of 2.36. The business has a fifty day moving average of $23.84 and a two-hundred day moving average of $19.83. Cinemark has a twelve month low of $13.19 and a twelve month high of $28.43.

Cinemark (NYSE:CNK) last released its quarterly earnings results on Friday, August 2nd. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.07 by $0.25. Cinemark had a return on equity of 69.48% and a net margin of 7.12%. The firm had revenue of $734.20 million during the quarter, compared to analyst estimates of $691.74 million. During the same period in the previous year, the company posted $0.80 EPS. The business’s revenue for the quarter was down 22.1% compared to the same quarter last year. On average, analysts forecast that Cinemark will post 1.08 earnings per share for the current fiscal year.

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.