Cinemark (NYSE:CNK) Price Target Cut to $37.00 by Analysts at JPMorgan Chase & Co.

Cinemark (NYSE:CNK) had its target price reduced by analysts at JPMorgan Chase & Co. from $38.00 to $37.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 28.12% from the stock’s previous close.

CNK has been the subject of a number of other reports. Zacks Research upgraded Cinemark from a “strong sell” rating to a “hold” rating in a research report on Friday, October 3rd. Barrington Research reiterated an “outperform” rating and issued a $36.00 price objective on shares of Cinemark in a research report on Tuesday, September 23rd. Wells Fargo & Company reiterated an “overweight” rating and issued a $33.00 price objective (down from $36.00) on shares of Cinemark in a research report on Monday, August 4th. Deutsche Bank Aktiengesellschaft began coverage on Cinemark in a research report on Thursday, July 10th. They issued a “buy” rating and a $36.00 price objective for the company. Finally, Wedbush upgraded Cinemark from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $32.00 to $37.00 in a research report on Friday, July 11th. Nine analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $35.30.

Cinemark Price Performance

Shares of CNK stock traded up $0.09 during trading hours on Thursday, reaching $28.88. The company had a trading volume of 3,299,136 shares, compared to its average volume of 3,862,333. The company has a debt-to-equity ratio of 4.32, a quick ratio of 0.88 and a current ratio of 0.91. The stock has a fifty day moving average of $27.07 and a 200-day moving average of $28.79. The company has a market capitalization of $3.32 billion, a price-to-earnings ratio of 15.78, a PEG ratio of 1.96 and a beta of 1.69. Cinemark has a 12-month low of $23.12 and a 12-month high of $36.28.

Cinemark (NYSE:CNK) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.04). The company had revenue of $857.50 million during the quarter, compared to analysts’ expectations of $851.47 million. Cinemark had a net margin of 9.13% and a return on equity of 59.16%. Cinemark’s revenue for the quarter was down 7.0% on a year-over-year basis. During the same quarter last year, the company earned $1.19 earnings per share. On average, equities analysts anticipate that Cinemark will post 1.93 earnings per share for the current year.

Insider Activity at Cinemark

In related news, EVP Melissa Thomas sold 7,200 shares of Cinemark stock in a transaction on Friday, August 15th. The stock was sold at an average price of $25.17, for a total value of $181,224.00. Following the completion of the transaction, the executive vice president directly owned 203,768 shares in the company, valued at approximately $5,128,840.56. This trade represents a 3.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Cinemark

Institutional investors have recently bought and sold shares of the business. AlphaQuest LLC boosted its stake in shares of Cinemark by 169.6% during the 2nd quarter. AlphaQuest LLC now owns 33,673 shares of the company’s stock worth $1,016,000 after acquiring an additional 21,184 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Cinemark by 2.8% in the 1st quarter. Principal Financial Group Inc. now owns 681,435 shares of the company’s stock valued at $16,961,000 after buying an additional 18,645 shares in the last quarter. Intech Investment Management LLC lifted its stake in Cinemark by 52.0% in the 1st quarter. Intech Investment Management LLC now owns 94,133 shares of the company’s stock valued at $2,343,000 after buying an additional 32,190 shares in the last quarter. Inspire Investing LLC lifted its stake in Cinemark by 605.1% in the 1st quarter. Inspire Investing LLC now owns 102,936 shares of the company’s stock valued at $2,562,000 after buying an additional 88,338 shares in the last quarter. Finally, Dark Forest Capital Management LP lifted its stake in shares of Cinemark by 2,933.6% during the 1st quarter. Dark Forest Capital Management LP now owns 240,749 shares of the company’s stock worth $5,992,000 after purchasing an additional 232,813 shares during the period.

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.