Cinemark (NYSE:CNK) Price Target Raised to $36.00

Cinemark (NYSE:CNK) had its price objective lifted by stock analysts at Wells Fargo & Company from $32.00 to $36.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price points to a potential upside of 20.00% from the company’s previous close.

Other research analysts have also recently issued research reports about the company. The Goldman Sachs Group reissued a “sell” rating and issued a $22.00 price objective on shares of Cinemark in a research note on Thursday, February 19th. Weiss Ratings restated a “hold (c)” rating on shares of Cinemark in a research note on Friday, March 27th. Wall Street Zen upgraded shares of Cinemark from a “sell” rating to a “hold” rating in a research note on Saturday, February 21st. UBS Group raised shares of Cinemark to a “buy” rating in a report on Tuesday, January 20th. Finally, Barrington Research reissued an “outperform” rating and set a $32.00 target price on shares of Cinemark in a report on Thursday, February 19th. Ten analysts have rated the stock with 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, Cinemark has a consensus rating of “Moderate Buy” and an average target price of $32.69.

Cinemark Trading Up 0.9%

Cinemark stock traded up $0.28 during midday trading on Thursday, reaching $30.00. The stock had a trading volume of 233,958 shares, compared to its average volume of 2,470,429. The company has a quick ratio of 0.67, a current ratio of 0.71 and a debt-to-equity ratio of 4.74. Cinemark has a 52-week low of $21.60 and a 52-week high of $34.01. The firm has a market cap of $3.47 billion, a price-to-earnings ratio of 34.33 and a beta of 1.09. The company has a fifty day moving average of $26.81 and a 200 day moving average of $26.17.

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

Insiders Place Their Bets

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CNK. Lavaca Capital LLC purchased a new position in Cinemark in the fourth quarter valued at $133,045,000. Orbis Allan Gray Ltd grew its position in shares of Cinemark by 31.0% in the fourth quarter. Orbis Allan Gray Ltd now owns 15,057,911 shares of the company’s stock valued at $349,946,000 after purchasing an additional 3,563,810 shares during the period. Alyeska Investment Group L.P. acquired a new position in Cinemark during the fourth quarter worth about $55,296,000. Victory Capital Management Inc. boosted its position 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 acquiring an additional 2,010,488 shares during the last quarter. Finally, Woodline Partners LP acquired a new position in Cinemark during the third quarter worth about $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.