Analysts Set Cinemark Holdings, Inc. (NYSE:CNK) Price Target at $24.60

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

Several analysts have recently commented on CNK shares. Benchmark restated a “buy” rating and issued a $23.00 target price on shares of Cinemark in a research note on Monday, July 1st. Roth Capital raised Cinemark from a “hold” rating to a “strong-buy” rating in a report on Monday, June 24th. Barrington Research downgraded Cinemark from an “outperform” rating to a “market perform” rating in a research note on Wednesday. JPMorgan Chase & Co. lifted their price target on Cinemark from $22.00 to $25.00 and gave the company a “neutral” rating in a research note on Monday, August 5th. Finally, Roth Mkm upped their price objective on Cinemark from $28.00 to $30.00 and gave the stock a “buy” rating in a report on Monday, August 5th.

Insiders Place Their Bets

In other Cinemark news, insider Valmir Fernandes sold 25,000 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $27.19, for a total transaction of $679,750.00. Following the transaction, the insider now owns 204,729 shares of the company’s stock, valued at approximately $5,566,581.51. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 2.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Cinemark

Several institutional investors and hedge funds have recently bought and sold shares of CNK. Park West Asset Management LLC increased its holdings in shares of Cinemark by 34.3% during the 4th quarter. Park West Asset Management LLC now owns 1,175,000 shares of the company’s stock worth $16,556,000 after buying an additional 300,000 shares during the last quarter. Sei Investments Co. raised its holdings in shares of Cinemark by 38.1% in the 1st quarter. Sei Investments Co. now owns 115,124 shares of the company’s stock worth $2,069,000 after purchasing an additional 31,739 shares during the period. Peconic Partners LLC lifted its stake in shares of Cinemark by 66.7% in the 4th quarter. Peconic Partners LLC now owns 500,000 shares of the company’s stock valued at $7,045,000 after purchasing an additional 200,000 shares in the last quarter. Hennessy Advisors Inc. grew its holdings in shares of Cinemark by 14.1% during the 1st quarter. Hennessy Advisors Inc. now owns 1,295,800 shares of the company’s stock worth $23,286,000 after purchasing an additional 160,200 shares during the period. Finally, Louisiana State Employees Retirement System acquired a new stake in Cinemark during the 4th quarter worth approximately $748,000.

Cinemark Stock Performance

NYSE CNK opened at $27.38 on Monday. 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. Cinemark has a 52-week low of $13.19 and a 52-week high of $28.43. The business’s 50-day moving average price is $23.84 and its 200 day moving average price is $19.83. The company has a quick ratio of 1.45, a current ratio of 1.48 and a debt-to-equity ratio of 7.42.

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