Cinemark (NYSE:CNK) Given New $41.00 Price Target at JPMorgan Chase & Co.

Cinemark (NYSE:CNK) had its price target boosted by stock analysts at JPMorgan Chase & Co. from $39.00 to $41.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 2.12% from the company’s previous close.

A number of other brokerages have also recently weighed in on CNK. Benchmark lifted their target price on Cinemark from $37.00 to $40.00 and gave the company a “buy” rating in a report on Friday, July 31st. Zacks Research raised Cinemark from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 13th. B. Riley Financial reiterated a “neutral” rating on shares of Cinemark in a research note on Monday. Moffett Nathanson restated a “buy” rating and issued a $40.00 price objective on shares of Cinemark in a report on Thursday, July 30th. Finally, Wall Street Zen lowered shares of Cinemark from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 29th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, Cinemark has a consensus rating of “Moderate Buy” and an average target price of $38.43.

Cinemark Stock Performance

Shares of CNK stock traded up $0.54 during midday trading on Friday, hitting $40.15. The company had a trading volume of 268,214 shares, compared to its average volume of 2,332,529. The company’s 50 day simple moving average is $36.61 and its 200 day simple moving average is $32.99. The stock has a market cap of $4.65 billion, a price-to-earnings ratio of 23.75 and a beta of 1.03. The company has a debt-to-equity ratio of 3.87, a current ratio of 0.84 and a quick ratio of 0.81. Cinemark has a 52-week low of $21.60 and a 52-week high of $40.53.

Cinemark (NYSE:CNK) last released its earnings results on Thursday, July 30th. The company reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.16. Cinemark had a return on equity of 50.94% and a net margin of 6.44%. The company had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter last year, the company earned $0.63 earnings per share. Cinemark’s quarterly revenue was up 15.5% compared to the same quarter last year. Research analysts anticipate that Cinemark will post 2.62 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cinemark

Several hedge funds have recently bought and sold shares of CNK. GAMMA Investing LLC increased its holdings in shares of Cinemark by 7.8% in the 3rd quarter. GAMMA Investing LLC now owns 5,371 shares of the company’s stock valued at $200,000 after purchasing an additional 389 shares during the period. Gabelli Funds LLC lifted its position in Cinemark by 0.5% in the 1st quarter. Gabelli Funds LLC now owns 101,866 shares of the company’s stock worth $2,905,000 after buying an additional 490 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Cinemark by 14.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 7,613 shares of the company’s stock valued at $217,000 after buying an additional 951 shares during the period. TD Waterhouse Canada Inc. acquired a new stake in Cinemark during the third quarter valued at $36,000. Finally, Public Employees Retirement System of Ohio acquired a new position in Cinemark in the second quarter worth approximately $32,000.

About Cinemark

Cinemark Holdings, Inc (NYSE: CNK) is a leading motion picture exhibition company that operates movie theaters in the United States and Latin America. Through its Cinemark and Century theater brands, the company provides audiences with theatrical entertainment, including first-run films, premium large-format presentations and enhanced viewing experiences.

Cinemark’s theaters generate revenue primarily through ticket sales and food and beverage concessions. Its offerings may include reserved seating, luxury reclining seats, Cinemark XD premium auditoriums, online and mobile ticketing, and loyalty programs such as Cinemark Movie Rewards.