JPMorgan Chase & Co. Increases Cinemark (NYSE:CNK) Price Target to $31.00

Cinemark (NYSE:CNK) had its price target boosted by equities research analysts at JPMorgan Chase & Co. from $29.00 to $31.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 6.86% from the company’s previous close.

Other research analysts also recently issued research reports about the company. Barrington Research upgraded Cinemark from a “market perform” rating to an “outperform” rating and set a $36.00 target price on the stock in a research note on Thursday, October 31st. Wedbush cut shares of Cinemark from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 1st. Macquarie raised their target price on Cinemark from $32.00 to $34.00 and gave the company an “outperform” rating in a report on Friday, November 1st. StockNews.com upgraded shares of Cinemark from a “sell” rating to a “hold” rating in a research note on Sunday, November 10th. Finally, Benchmark reiterated a “buy” rating and issued a $40.00 target price on shares of Cinemark in a research note on Friday, January 10th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Cinemark has an average rating of “Moderate Buy” and an average price target of $32.80.

Cinemark Stock Down 0.0 %

Shares of CNK traded down $0.01 during mid-day trading on Thursday, reaching $29.01. The company’s stock had a trading volume of 90,739 shares, compared to its average volume of 1,692,995. Cinemark has a 1 year low of $13.45 and a 1 year high of $36.28. The company has a quick ratio of 0.96, a current ratio of 0.98 and a debt-to-equity ratio of 3.46. The company has a market cap of $3.55 billion, a price-to-earnings ratio of 18.72 and a beta of 2.40. The business has a fifty day moving average of $31.49 and a 200 day moving average of $28.85.

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

Insider Buying and Selling

In related news, insider Valmir Fernandes sold 25,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now directly owns 179,729 shares of the company’s stock, valued at $5,873,543.72. This trade represents a 12.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Cinemark

Hedge funds have recently made changes to their positions in the business. Aigen Investment Management LP grew its position in Cinemark by 198.9% in the third quarter. Aigen Investment Management LP now owns 49,400 shares of the company’s stock valued at $1,375,000 after acquiring an additional 32,870 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Cinemark by 88.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 62,239 shares of the company’s stock valued at $1,733,000 after purchasing an additional 29,295 shares in the last quarter. State of New Jersey Common Pension Fund D bought a new stake in shares of Cinemark in the 3rd quarter worth about $1,960,000. Entropy Technologies LP acquired a new stake in shares of Cinemark during the 3rd quarter worth about $893,000. Finally, Blueshift Asset Management LLC lifted its holdings in Cinemark by 180.2% during the 3rd quarter. Blueshift Asset Management LLC now owns 114,674 shares of the company’s stock valued at $3,193,000 after purchasing an additional 73,747 shares during the last quarter.

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.