Cinemark (NYSE:CNK) Given New $40.00 Price Target at Benchmark

Cinemark (NYSE:CNK) had its price target hoisted by equities research analysts at Benchmark from $32.00 to $40.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Benchmark’s price objective indicates a potential upside of 13.22% from the company’s current price.

CNK has been the subject of several other research reports. Wells Fargo & Company upped their price objective on shares of Cinemark from $35.00 to $38.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 27th. Wedbush cut shares of Cinemark from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 1st. Roth Mkm increased their target price on shares of Cinemark from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. B. Riley lowered shares of Cinemark from a “buy” rating to a “neutral” rating and set a $31.00 price target on the stock. in a report on Tuesday, August 27th. Finally, Morgan Stanley lifted their target price on Cinemark from $29.00 to $35.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. One 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’s stock. Based on data from MarketBeat, Cinemark presently has a consensus rating of “Moderate Buy” and an average price target of $32.80.

Cinemark Stock Performance

CNK traded down $0.69 during trading on Tuesday, hitting $35.33. The stock had a trading volume of 367,328 shares, compared to its average volume of 2,851,059. The company has a debt-to-equity ratio of 3.46, a current ratio of 0.98 and a quick ratio of 0.96. The firm has a market cap of $4.32 billion, a price-to-earnings ratio of 22.74, a P/E/G ratio of 1.73 and a beta of 2.38. The company has a 50 day moving average price of $30.06 and a 200-day moving average price of $25.41. Cinemark has a one year low of $13.19 and a one year high of $36.28.

Cinemark (NYSE:CNK) last issued its quarterly earnings results on Thursday, October 31st. The company reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.61. Cinemark had a return on equity of 60.21% and a net margin of 8.36%. The business had revenue of $921.80 million during the quarter, compared to analysts’ expectations of $894.90 million. During the same period in the previous year, the company posted $0.61 earnings per share. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, research analysts predict that Cinemark will post 2 EPS for the current year.

Insider Activity

In related news, insider Valmir Fernandes sold 25,000 shares of Cinemark stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $32.68, for a total transaction of $817,000.00. Following the transaction, the insider now owns 179,729 shares of the company’s stock, valued at $5,873,543.72. The trade was a 12.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On Cinemark

Several large investors have recently bought and sold shares of the stock. Quarry LP boosted its stake in shares of Cinemark by 714.8% in the 3rd quarter. Quarry LP now owns 1,491 shares of the company’s stock worth $42,000 after buying an additional 1,308 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Cinemark by 106.1% during the 3rd quarter. GAMMA Investing LLC now owns 2,020 shares of the company’s stock worth $56,000 after purchasing an additional 1,040 shares during the period. Point72 Asia Singapore Pte. Ltd. boosted its holdings in shares of Cinemark by 38.7% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,145 shares of the company’s stock worth $68,000 after buying an additional 877 shares during the last quarter. USA Financial Formulas bought a new position in Cinemark during the third quarter valued at about $77,000. Finally, 1620 Investment Advisors Inc. bought a new stake in Cinemark in the second quarter worth about $79,000.

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.