JPMorgan Chase & Co. Cuts Cinemark (NYSE:CNK) Price Target to $30.00

Cinemark (NYSE:CNK) had its price target dropped by JPMorgan Chase & Co. from $31.00 to $30.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 11.51% from the stock’s previous close.

A number of other brokerages have also commented on CNK. Barrington Research reissued an “outperform” rating and set a $40.00 price objective on shares of Cinemark in a report on Wednesday. StockNews.com upgraded Cinemark from a “sell” rating to a “hold” rating in a report on Sunday, November 10th. Wells Fargo & Company decreased their price objective on shares of Cinemark from $38.00 to $36.00 and set an “overweight” rating for the company in a report on Wednesday, January 29th. Wedbush reiterated a “neutral” rating and issued a $32.00 target price on shares of Cinemark in a report on Tuesday. Finally, Macquarie raised their price target on Cinemark from $32.00 to $34.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. One analyst has rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Cinemark has an average rating of “Moderate Buy” and a consensus target price of $32.60.

Cinemark Stock Down 5.8 %

NYSE CNK traded down $1.67 during trading on Thursday, reaching $26.90. The company’s stock had a trading volume of 1,334,813 shares, compared to its average volume of 2,592,493. The company has a current ratio of 0.98, a quick ratio of 0.96 and a debt-to-equity ratio of 3.46. The stock has a market capitalization of $3.29 billion, a PE ratio of 17.41 and a beta of 2.38. Cinemark has a 1-year low of $15.74 and a 1-year high of $36.28. The business has a 50-day moving average price of $30.44 and a 200-day moving average price of $29.76.

Cinemark (NYSE:CNK) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.06). The business had revenue of $814.30 million during the quarter, compared to analyst estimates of $797.18 million. Cinemark had a net margin of 8.36% and a return on equity of 60.21%. The firm’s revenue for the quarter was up 27.5% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.15) EPS. On average, research analysts forecast that Cinemark will post 2.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cinemark

A number of large investors have recently bought and sold shares of CNK. Arrowstreet Capital Limited Partnership raised its position in Cinemark by 100.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,104,552 shares of the company’s stock valued at $127,159,000 after purchasing an additional 2,054,579 shares during the last quarter. Candlestick Capital Management LP raised its holdings in shares of Cinemark by 48.1% in the fourth quarter. Candlestick Capital Management LP now owns 4,931,618 shares of the company’s stock valued at $152,782,000 after buying an additional 1,601,537 shares during the last quarter. Maverick Capital Ltd. raised its holdings in shares of Cinemark by 1,356.4% in the third quarter. Maverick Capital Ltd. now owns 1,517,771 shares of the company’s stock valued at $42,255,000 after buying an additional 1,413,557 shares during the last quarter. Simcoe Capital Management LLC acquired a new position in Cinemark during the 4th quarter worth about $37,763,000. Finally, Man Group plc acquired a new stake in Cinemark in the 4th quarter valued at about $28,040,000.

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.