Cinemark (NYSE:CNK) Price Target Raised to $45.00

Cinemark (NYSE:CNK) had its price target upped by stock analysts at Morgan Stanley from $40.00 to $45.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley‘s price target would indicate a potential upside of 15.27% from the company’s current price.

A number of other equities analysts have also weighed in on CNK. Weiss Ratings upgraded shares of Cinemark from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. The Goldman Sachs Group raised shares of Cinemark from a “sell” rating to a “neutral” rating and raised their target price for the stock from $23.00 to $30.00 in a research note on Wednesday, July 8th. Benchmark raised their target price on shares of Cinemark from $37.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. B. Riley Financial restated a “neutral” rating on shares of Cinemark in a report on Monday, October 19th. Finally, JPMorgan Chase & Co. increased their price target on Cinemark from $39.00 to $41.00 and gave the company a “neutral” rating in a report on Friday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $38.79.

Cinemark Price Performance

CNK stock traded down $0.15 during midday trading on Monday, reaching $39.04. The stock had a trading volume of 618,490 shares, compared to its average volume of 2,311,109. Cinemark has a 52-week low of $21.60 and a 52-week high of $40.53. The company has a current ratio of 0.84, a quick ratio of 0.81 and a debt-to-equity ratio of 3.87. The company’s fifty day simple moving average is $36.93 and its 200 day simple moving average is $31.27. The company has a market cap of $4.53 billion, a price-to-earnings ratio of 23.09 and a beta of 1.07.

Cinemark (NYSE:CNK) last issued its earnings results on Thursday, July 30th. The company reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.16. The business had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Cinemark had a net margin of 6.44% and a return on equity of 50.94%. The company’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.63 earnings per share. As a group, sell-side analysts predict that Cinemark will post 2.66 earnings per share for the current fiscal year.

Institutional Trading of Cinemark

Institutional investors have recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of Cinemark during the 2nd quarter valued at approximately $530,855,000. Park West Asset Management LLC acquired a new stake in Cinemark during the second quarter worth $40,707,000. Bank of New York Mellon Corp acquired a new stake in Cinemark during the second quarter worth $29,387,000. Bank of America Corp DE raised its position in Cinemark by 115.1% in the first quarter. Bank of America Corp DE now owns 831,389 shares of the company’s stock valued at $23,711,000 after purchasing an additional 444,965 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Cinemark in the second quarter valued at $22,657,000.

Cinemark Company Profile

Cinemark Holdings, Inc (NYSE: CNK) is a leading motion picture exhibition company that operates movie theaters in the United States and Latin America. Through its Cinemark and Century theater brands, the company provides audiences with theatrical entertainment, including first-run films, premium large-format presentations and enhanced viewing experiences.

Cinemark’s theaters generate revenue primarily through ticket sales and food and beverage concessions. Its offerings may include reserved seating, luxury reclining seats, Cinemark XD premium auditoriums, online and mobile ticketing, and loyalty programs such as Cinemark Movie Rewards.