Cinemark (NYSE:CNK) Hits New 52-Week High After Analyst Upgrade

Cinemark Holdings, Inc. (NYSE:CNK)’s stock price hit a new 52-week high on Wednesday after Wells Fargo & Company raised their price target on the stock from $35.00 to $38.00. Wells Fargo & Company currently has an overweight rating on the stock. Cinemark traded as high as $34.43 and last traded at $34.30, with a volume of 1013063 shares changing hands. The stock had previously closed at $32.84.

Other analysts also recently issued research reports about the company. Roth Mkm raised their price target on Cinemark from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. JPMorgan Chase & Co. boosted their price target on shares of Cinemark from $25.00 to $29.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Wedbush cut shares of Cinemark from a “strong-buy” rating to a “hold” rating in a report on Friday, November 1st. Barrington Research raised shares of Cinemark from a “market perform” rating to an “outperform” rating and set a $36.00 target price for the company in a research note on Thursday, October 31st. Finally, B. Riley cut shares of Cinemark from a “buy” rating to a “neutral” rating and set a $31.00 target price for the company. in a research report on Tuesday, August 27th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Cinemark currently has an average rating of “Moderate Buy” and a consensus price target of $31.10.

Insider Buying and Selling at Cinemark

In other Cinemark news, insider Valmir Fernandes sold 25,000 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $32.68, for a total transaction of $817,000.00. Following the completion of the sale, the insider now directly owns 179,729 shares of the company’s stock, valued at approximately $5,873,543.72. This represents a 12.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cinemark

A number of large investors have recently made changes to their positions in CNK. CANADA LIFE ASSURANCE Co boosted its position in Cinemark by 0.5% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 122,908 shares of the company’s stock worth $2,209,000 after acquiring an additional 612 shares during the period. Comerica Bank grew its holdings in shares of Cinemark by 36.4% during the 1st quarter. Comerica Bank now owns 68,261 shares of the company’s stock valued at $1,227,000 after acquiring an additional 18,198 shares in the last quarter. Everence Capital Management Inc. acquired a new stake in Cinemark during the second quarter valued at $328,000. QRG Capital Management Inc. increased its position in Cinemark by 5.9% in the 2nd quarter. QRG Capital Management Inc. now owns 20,557 shares of the company’s stock worth $444,000 after purchasing an additional 1,148 shares during the last quarter. Finally, Wedge Capital Management L L P NC raised its stake in shares of Cinemark by 16.4% during the 2nd quarter. Wedge Capital Management L L P NC now owns 103,568 shares of the company’s stock worth $2,239,000 after purchasing an additional 14,621 shares in the last quarter.

Cinemark Trading Up 4.4 %

The firm has a market capitalization of $4.20 billion, a price-to-earnings ratio of 21.75, a price-to-earnings-growth ratio of 1.67 and a beta of 2.35. The company has a fifty day moving average price of $29.54 and a 200-day moving average price of $24.95. The company has a current ratio of 0.98, a quick ratio of 0.96 and a debt-to-equity ratio of 3.46.

Cinemark (NYSE:CNK) last released its quarterly earnings results on Thursday, October 31st. The company reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.61. Cinemark had a net margin of 8.36% and a return on equity of 60.21%. The business had revenue of $921.80 million for the quarter, compared to the consensus estimate of $894.90 million. During the same quarter last year, the firm earned $0.61 EPS. Cinemark’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, equities research analysts predict that Cinemark Holdings, Inc. will post 2 EPS for the current 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.