Cinemark (NYSE:CNK) Price Target Raised to $46.00

Cinemark (NYSE:CNK) had its price objective upped by research analysts at Wedbush from $45.00 to $46.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Wedbush‘s price objective would indicate a potential upside of 18.27% from the stock’s current price.

Other research analysts have also issued reports about the stock. Barrington Research set a $42.00 target price on shares of Cinemark in a report on Thursday, July 30th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $40.00 price target on shares of Cinemark in a research note on Friday, July 31st. Wells Fargo & Company reissued a “reduce” rating and issued a $42.00 price objective on shares of Cinemark in a research note on Wednesday. Zacks Research upgraded shares of Cinemark from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 13th. Finally, JPMorgan Chase & Co. upped their target price on shares of Cinemark from $39.00 to $41.00 and gave the company a “neutral” rating in a research report on Friday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $39.57.

Cinemark Price Performance

NYSE:CNK opened at $38.89 on Wednesday. The business’s 50-day moving average is $36.98 and its 200 day moving average is $31.42. Cinemark has a 12 month low of $21.60 and a 12 month high of $40.53. The company has a market capitalization of $4.51 billion, a P/E ratio of 22.94 and a beta of 1.07. The company has a current ratio of 0.84, a quick ratio of 0.81 and a debt-to-equity ratio of 3.87.

Cinemark (NYSE:CNK) last released its quarterly earnings results on Tuesday, November 3rd. The company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.06. Cinemark had a return on equity of 50.94% and a net margin of 6.44%. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter last year, the business posted $0.40 EPS. The firm’s revenue for the quarter was up 23.5% compared to the same quarter last year. On average, equities research analysts forecast that Cinemark will post 2.68 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Public Employees Retirement System of Ohio purchased a new stake in shares of Cinemark in the second quarter worth approximately $32,000. TD Waterhouse Canada Inc. purchased a new position in Cinemark during the 3rd quarter valued at $36,000. USA Financial Formulas purchased a new position in Cinemark during the 3rd quarter valued at $43,000. Integrated Wealth Concepts LLC bought a new position in Cinemark in the 2nd quarter valued at $60,000. Finally, KBC Group NV grew its position in Cinemark by 56.9% in the 1st quarter. KBC Group NV now owns 4,334 shares of the company’s stock valued at $124,000 after acquiring an additional 1,572 shares during the last quarter.

Trending Headlines about Cinemark

Here are the key news stories impacting Cinemark this week:

• Positive Sentiment: Quarterly results beat expectations. Cinemark reported Q3 adjusted earnings of $1.04 per share, ahead of consensus near $0.98, and revenue of $1.06 billion versus estimates of about $1.04 billion. Revenue grew 23.5% year over year, with worldwide revenue reaching a record level. The earnings beat and growth help explain the favorable share reaction. Read More.
• Positive Sentiment: Analyst valuation views improved. Morgan Stanley raised its price target from $40 to $45, while maintaining an Equal Weight rating. A separate report says analysts lifted fair value estimates as they considered record box-office performance. Read More. Read More.
• Neutral Sentiment: Investment plans could support future returns but require substantial spending. A long-term investor analysis noted capital expenditures could exceed $250 million for projects Cinemark views as high-return. Execution and returns on that investment will matter. Read More.
• Negative Sentiment: Management flagged a risk to the theatrical ecosystem. CEO Sean Gamble criticized the release model for Netflix’s The Further Mis-Adventures of Cliff Booth, saying it was not favorable for theaters. The comments point to ongoing uncertainty about competition from streaming and film release windows. Read More.

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.