Shares of Cinemark Holdings, Inc. (NYSE:CNK – Get Free Report) rose 2.8% during mid-day trading on Thursday after Morgan Stanley raised their price target on the stock from $29.00 to $35.00. Morgan Stanley currently has an overweight rating on the stock. Cinemark traded as high as $28.24 and last traded at $28.11. Approximately 128,567 shares changed hands during mid-day trading, a decline of 96% from the average daily volume of 2,874,287 shares. The stock had previously closed at $27.35.
Other analysts also recently issued reports about the company. B. Riley downgraded Cinemark from a “buy” rating to a “neutral” rating and set a $31.00 price objective for the company. in a report on Tuesday, August 27th. Benchmark restated a “buy” rating and set a $23.00 price objective on shares of Cinemark in a report on Monday, July 1st. Barrington Research downgraded Cinemark from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 28th. The Goldman Sachs Group upped their price target on shares of Cinemark from $16.00 to $20.00 and gave the stock a “sell” rating in a research report on Thursday, September 19th. Finally, Wells Fargo & Company upped their price target on shares of Cinemark from $28.00 to $31.00 and gave the stock an “overweight” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $27.70.
View Our Latest Analysis on CNK
Insider Buying and Selling at Cinemark
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in CNK. Third Point LLC acquired a new position in shares of Cinemark during the first quarter valued at approximately $89,850,000. Steadfast Capital Management LP acquired a new position in shares of Cinemark during the first quarter valued at approximately $29,323,000. Jericho Capital Asset Management L.P. acquired a new position in shares of Cinemark during the first quarter valued at approximately $15,975,000. Nut Tree Capital Management LP bought a new stake in Cinemark during the first quarter worth approximately $13,250,000. Finally, Hennessy Advisors Inc. boosted its holdings in Cinemark by 18.1% during the second quarter. Hennessy Advisors Inc. now owns 1,530,200 shares of the company’s stock worth $33,083,000 after buying an additional 234,400 shares in the last quarter.
Cinemark Stock Up 3.7 %
The stock has a market capitalization of $3.63 billion, a P/E ratio of 20.47, a PEG ratio of 1.94 and a beta of 2.36. The company has a debt-to-equity ratio of 6.23, a current ratio of 1.29 and a quick ratio of 1.26. The stock’s fifty day moving average is $27.42 and its two-hundred day moving average is $21.97.
Cinemark (NYSE:CNK – Get Free Report) last issued its earnings results on Friday, August 2nd. The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.25. The firm had revenue of $734.20 million during the quarter, compared to analysts’ expectations of $691.74 million. Cinemark had a net margin of 5.05% and a return on equity of 41.87%. The firm’s revenue for the quarter was down 22.1% compared to the same quarter last year. During the same period last year, the firm posted $0.80 earnings per share. As a group, research analysts predict that Cinemark Holdings, Inc. will post 1.41 earnings per share for the current fiscal year.
Cinemark Company Profile
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.
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