Cinemark (NYSE:CNK) Price Target Lowered to $36.00 at Wells Fargo & Company

Cinemark (NYSE:CNK) had its price target lowered by Wells Fargo & Company from $38.00 to $36.00 in a report released on Wednesday,Benzinga reports. The firm currently has an overweight rating on the stock.

Other research analysts have also recently issued reports about the stock. Benchmark reissued a “buy” rating and set a $40.00 price objective on shares of Cinemark in a research note on Friday, January 10th. StockNews.com raised shares of Cinemark from a “sell” rating to a “hold” rating in a report on Sunday, November 10th. Morgan Stanley increased their price objective 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. Roth Mkm increased their price objective on Cinemark from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, Barrington Research upgraded shares of Cinemark from a “market perform” rating to an “outperform” rating and set a $36.00 price objective for the company in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $32.60.

Cinemark Stock Performance

NYSE CNK opened at $28.93 on Wednesday. Cinemark has a twelve month low of $13.45 and a twelve month high of $36.28. The stock has a market cap of $3.54 billion, a PE ratio of 18.66 and a beta of 2.40. The stock has a fifty day simple moving average of $31.49 and a 200-day simple moving average of $28.85. The company has a current ratio of 0.98, a quick ratio of 0.96 and a debt-to-equity ratio of 3.46.

Cinemark (NYSE:CNK) last released its quarterly earnings data on Thursday, October 31st. The company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.61. Cinemark had a return on equity of 60.21% and a net margin of 8.36%. The business had revenue of $921.80 million during the quarter, compared to analysts’ expectations of $894.90 million. During the same period in the prior year, the firm posted $0.61 EPS. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. Equities analysts anticipate that Cinemark will post 2.06 earnings per share for the current year.

Insider Activity

In other Cinemark news, insider Valmir Fernandes sold 25,000 shares of Cinemark stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $32.68, for a total value of $817,000.00. Following the transaction, the insider now directly owns 179,729 shares of the company’s stock, valued at $5,873,543.72. The trade was a 12.21 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Quarry LP raised its position in shares of Cinemark by 714.8% in the 3rd quarter. Quarry LP now owns 1,491 shares of the company’s stock worth $42,000 after purchasing an additional 1,308 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Cinemark by 106.1% during the 3rd quarter. GAMMA Investing LLC now owns 2,020 shares of the company’s stock valued at $56,000 after acquiring an additional 1,040 shares during the period. R Squared Ltd purchased a new stake in Cinemark in the fourth quarter worth about $63,000. Point72 Asia Singapore Pte. Ltd. lifted its holdings in Cinemark by 38.7% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,145 shares of the company’s stock valued at $68,000 after purchasing an additional 877 shares in the last quarter. Finally, USA Financial Formulas bought a new position in Cinemark in the 3rd quarter worth $77,000.

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.