Wells Fargo & Company Forecasts Strong Price Appreciation for Cinemark (NYSE:CNK) Stock

Cinemark (NYSE:CNK) had its target price hoisted by research analysts at Wells Fargo & Company from $32.00 to $36.00 in a research report issued to clients and investors on Thursday, MarketBeat reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price would indicate a potential upside of 18.55% from the stock’s previous close.

Other analysts have also recently issued reports about the stock. Wall Street Zen raised shares of Cinemark from a “sell” rating to a “hold” rating in a report on Saturday, February 21st. Macquarie Infrastructure decreased their target price on shares of Cinemark from $36.00 to $34.00 and set an “outperform” rating for the company in a research report on Thursday, January 15th. Morgan Stanley reiterated an “equal weight” rating and issued a $28.00 target price (down from $35.00) on shares of Cinemark in a research report on Thursday, December 18th. Roth Mkm reiterated a “buy” rating and issued a $36.00 target price on shares of Cinemark in a research report on Thursday, February 19th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Cinemark in a research report on Friday, March 27th. Ten equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $32.69.

Cinemark Trading Down 1.6%

NYSE CNK opened at $30.37 on Thursday. The stock has a market cap of $3.55 billion, a P/E ratio of 34.91 and a beta of 1.09. The company’s fifty day simple moving average is $27.09 and its 200-day simple moving average is $26.22. The company has a current ratio of 0.71, a quick ratio of 0.67 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.

Cinemark (NYSE:CNK) last posted its quarterly earnings results on Wednesday, February 18th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.08). The company had revenue of $776.30 million during the quarter, compared to analyst estimates of $778.41 million. Cinemark had a net margin of 4.44% and a return on equity of 34.11%. The company’s revenue was down 4.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.33 earnings per share. Equities research analysts predict that Cinemark will post 1.93 EPS for the current fiscal year.

Insider Buying and Selling

In other Cinemark news, EVP Melissa Thomas sold 7,944 shares of the company’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $26.05, for a total transaction of $206,941.20. Following the completion of the sale, the executive vice president directly owned 159,416 shares of the company’s stock, valued at approximately $4,152,786.80. This represents a 4.75% 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. Corporate insiders own 2.10% of the company’s stock.

Institutional Trading of Cinemark

A number of hedge funds have recently made changes to their positions in the stock. Hsbc Holdings PLC lifted its position in shares of Cinemark by 12.3% in the fourth quarter. Hsbc Holdings PLC now owns 44,028 shares of the company’s stock worth $1,025,000 after purchasing an additional 4,839 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its holdings in Cinemark by 17.8% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 17,683 shares of the company’s stock valued at $411,000 after purchasing an additional 2,674 shares during the last quarter. Delta Global Management LP grew its holdings in Cinemark by 2.6% during the fourth quarter. Delta Global Management LP now owns 92,928 shares of the company’s stock valued at $2,160,000 after purchasing an additional 2,381 shares during the last quarter. XTX Topco Ltd grew its holdings in Cinemark by 1,056.3% during the fourth quarter. XTX Topco Ltd now owns 105,383 shares of the company’s stock valued at $2,449,000 after purchasing an additional 96,269 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in Cinemark by 8.4% during the fourth quarter. Wellington Management Group LLP now owns 9,536,900 shares of the company’s stock valued at $221,638,000 after purchasing an additional 742,307 shares during the last quarter.

About Cinemark

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.