The Goldman Sachs Group Boosts Cinemark (NYSE:CNK) Price Target to $20.00

Cinemark (NYSE:CNK) had its price target hoisted by The Goldman Sachs Group from $16.00 to $20.00 in a research report released on Thursday, Benzinga reports. They currently have a sell rating on the stock.

CNK has been the topic of several other reports. Wedbush boosted their target price on Cinemark from $28.00 to $31.00 and gave the stock an outperform rating in a report on Tuesday, September 3rd. Roth Mkm boosted their price objective on Cinemark from $28.00 to $30.00 and gave the stock a buy rating in a research note on Monday, August 5th. B. Riley downgraded Cinemark from a buy rating to a neutral rating and set a $31.00 target price for the company. in a research note on Tuesday, August 27th. Barrington Research cut shares of Cinemark from an outperform rating to a market perform rating in a research report on Wednesday, August 28th. Finally, Morgan Stanley upped their price objective on shares of Cinemark from $26.00 to $29.00 and gave the company an overweight rating in a report on Monday, August 5th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $26.00.

Cinemark Stock Performance

NYSE CNK opened at $28.32 on Thursday. 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 50 day simple moving average is $25.89 and its 200-day simple moving average is $21.10. The company has a market cap of $3.46 billion, a PE ratio of 19.53, a price-to-earnings-growth ratio of 2.12 and a beta of 2.36. Cinemark has a 1-year low of $13.19 and a 1-year high of $29.07.

Cinemark (NYSE:CNK) last issued its earnings results on Friday, August 2nd. The company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.25. The business 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 company’s quarterly revenue was down 22.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.80 earnings per share. As a group, equities research analysts anticipate that Cinemark will post 1.33 EPS for the current fiscal year.

Insider Transactions at Cinemark

In other Cinemark news, insider Valmir Fernandes sold 25,000 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $27.19, for a total transaction of $679,750.00. Following the transaction, the insider now directly owns 204,729 shares in the company, valued at $5,566,581.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.30% of the company’s stock.

Institutional Trading of Cinemark

A number of institutional investors and hedge funds have recently bought and sold shares of CNK. Third Point LLC purchased a new stake in shares of Cinemark during the first quarter worth $89,850,000. Steadfast Capital Management LP purchased a new stake in Cinemark during the 1st quarter worth about $29,323,000. Hennessy Advisors Inc. acquired a new stake in Cinemark in the 4th quarter valued at about $16,001,000. Jericho Capital Asset Management L.P. purchased a new position in shares of Cinemark in the 1st quarter valued at about $15,975,000. Finally, Nut Tree Capital Management LP acquired a new position in shares of Cinemark during the first quarter worth about $13,250,000.

About Cinemark

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.