Cinemark (NYSE:CNK) Sets New 52-Week High – Here’s Why

Cinemark Holdings, Inc. (NYSE:CNK) shares hit a new 52-week high during trading on Thursday . The stock traded as high as $31.14 and last traded at $31.11, with a volume of 456701 shares traded. The stock had previously closed at $30.76.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CNK. Wedbush downgraded Cinemark from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 1st. Wells Fargo & Company increased their price target on Cinemark from $31.00 to $35.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Roth Mkm increased their price target on Cinemark from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. The Goldman Sachs Group raised their price target on Cinemark from $16.00 to $20.00 and gave the stock a “sell” rating in a report on Thursday, September 19th. Finally, Macquarie lifted their price objective on Cinemark from $32.00 to $34.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Cinemark presently has an average rating of “Moderate Buy” and an average price target of $30.80.

Cinemark Price Performance

The company has a market cap of $3.86 billion, a P/E ratio of 20.33, a P/E/G ratio of 1.64 and a beta of 2.35. 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 firm’s fifty day moving average is $28.51 and its two-hundred day moving average is $23.59.

Cinemark (NYSE:CNK) last announced its quarterly earnings results on Thursday, October 31st. The company reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.61. Cinemark had a net margin of 8.36% and a return on equity of 60.21%. The firm had revenue of $921.80 million during the quarter, compared to the consensus estimate of $894.90 million. During the same quarter last year, the firm earned $0.61 EPS. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, analysts anticipate that Cinemark Holdings, Inc. will post 1.8 earnings per share for the current fiscal year.

Insider Transactions at Cinemark

In other 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 transaction of $679,750.00. Following the transaction, the insider now directly owns 204,729 shares in the company, valued at approximately $5,566,581.51. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Third Point LLC purchased a new stake in shares of Cinemark during the first quarter worth about $89,850,000. Dimensional Fund Advisors LP raised its stake in shares of Cinemark by 5.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,914,708 shares of the company’s stock valued at $63,012,000 after acquiring an additional 148,076 shares during the period. Victory Capital Management Inc. increased its stake in Cinemark by 1.4% during the 2nd quarter. Victory Capital Management Inc. now owns 2,550,819 shares of the company’s stock worth $55,149,000 after buying an additional 35,993 shares during the period. Steadfast Capital Management LP purchased a new stake in Cinemark during the 1st quarter worth approximately $29,323,000. Finally, Hennessy Advisors Inc. increased its position in shares of Cinemark by 18.1% in the 2nd quarter. Hennessy Advisors Inc. now owns 1,530,200 shares of the company’s stock valued at $33,083,000 after purchasing an additional 234,400 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.