Cinemark (NYSE:CNK) Price Target Raised to $35.00

Cinemark (NYSE:CNK) had its price objective upped by research analysts at JPMorgan Chase & Co. from $31.00 to $35.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 17.63% from the stock’s current price.

CNK has been the subject of several other reports. Morgan Stanley reiterated an “equal weight” rating and issued a $28.00 target price (down from $35.00) on shares of Cinemark in a research report on Thursday, December 18th. UBS Group upgraded Cinemark to a “buy” rating in a research report on Tuesday, January 20th. Wells Fargo & Company dropped their target price on Cinemark from $33.00 to $32.00 and set an “overweight” rating for the company in a research report on Wednesday, January 14th. Moffett Nathanson upgraded Cinemark from a “neutral” rating to a “buy” rating and set a $30.00 target price for the company in a research report on Tuesday, January 20th. Finally, B. Riley Financial reiterated a “neutral” rating on shares of Cinemark in a research report on Thursday, February 19th. Ten equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $32.38.

Cinemark Price Performance

Shares of CNK stock traded down $0.13 on Wednesday, hitting $29.76. 1,044,170 shares of the company’s stock were exchanged, compared to its average volume of 2,492,377. The company has a debt-to-equity ratio of 4.74, a current ratio of 0.71 and a quick ratio of 0.67. Cinemark has a 12 month low of $21.60 and a 12 month high of $34.01. The stock has a market cap of $3.44 billion, a P/E ratio of 34.20 and a beta of 1.09. The company has a 50 day moving average of $26.68 and a 200 day moving average of $26.14.

Cinemark (NYSE:CNK) last posted its earnings results on Wednesday, February 18th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.08). The firm had revenue of $776.30 million during the quarter, compared to the consensus estimate of $778.41 million. Cinemark had a net margin of 4.44% and a return on equity of 34.11%. Cinemark’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.33 earnings per share. On average, equities research analysts predict that Cinemark will post 1.93 EPS for the current year.

Insider Buying and Selling at Cinemark

In other news, EVP Melissa Thomas sold 7,944 shares of the stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $26.05, for a total value of $206,941.20. Following the completion of the sale, the executive vice president owned 159,416 shares of the company’s stock, valued at approximately $4,152,786.80. This represents a 4.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Cinemark

Institutional investors and hedge funds have recently made changes to their positions in the stock. Lavaca Capital LLC acquired a new stake in Cinemark during the fourth quarter worth approximately $133,045,000. Orbis Allan Gray Ltd grew its stake in Cinemark by 31.0% during the fourth quarter. Orbis Allan Gray Ltd now owns 15,057,911 shares of the company’s stock worth $349,946,000 after purchasing an additional 3,563,810 shares during the period. Alyeska Investment Group L.P. acquired a new stake in Cinemark during the fourth quarter worth approximately $55,296,000. Victory Capital Management Inc. grew its stake in Cinemark by 12,759.3% during the fourth quarter. Victory Capital Management Inc. now owns 2,026,245 shares of the company’s stock worth $47,090,000 after purchasing an additional 2,010,488 shares during the period. Finally, Woodline Partners LP acquired a new stake in Cinemark during the third quarter worth approximately $33,390,000.

Cinemark Company Profile

Cinemark Holdings, Inc (NYSE: CNK) is a leading theatrical exhibitor that acquires, develops and operates motion picture theatres under the Cinemark® brand in the United States and Latin America. The company’s core business involves the presentation of first-run feature films coupled with an array of in‐theatre services, including concessions, premium auditoriums and loyalty programs. Cinemark’s exhibition portfolio encompasses both corporate‐owned and franchised complexes, offering moviegoers a range of experiences from standard screens to large‐format halls.

The company’s product offerings extend beyond ticket sales to include an assortment of concession items, such as popcorn, fountain beverages, candy and specialty snacks, as well as bar and lounge concepts in select locations.