Cinemark (NYSE:CNK – Get Free Report) had its price objective decreased by equities research analysts at Morgan Stanley from $42.00 to $40.00 in a research note issued on Thursday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective indicates a potential upside of 11.28% from the stock’s previous close.
A number of other analysts have also recently weighed in on CNK. Wall Street Zen cut Cinemark from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 29th. Benchmark upped their price target on shares of Cinemark from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Roth Capital set a $40.00 target price on Cinemark in a research report on Thursday, July 30th. The Goldman Sachs Group raised shares of Cinemark from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $23.00 to $30.00 in a research report on Wednesday, July 8th. Finally, Wedbush increased their price target on shares of Cinemark from $40.00 to $43.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Nine investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $37.93.
Check Out Our Latest Stock Report on CNK
Cinemark Stock Up 0.4%
Cinemark (NYSE:CNK – Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The company reported $1.19 earnings per share for the quarter, topping 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 firm had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter last year, the firm earned $0.63 EPS. The business’s quarterly revenue was up 15.5% on a year-over-year basis. Equities research analysts anticipate that Cinemark will post 2.41 earnings per share for the current year.
Institutional Investors Weigh In On Cinemark
Institutional investors have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio bought a new position in Cinemark during the 2nd quarter valued at $32,000. Integrated Wealth Concepts LLC bought a new stake in shares of Cinemark in the 2nd quarter worth $60,000. KBC Group NV lifted its holdings in shares of Cinemark by 56.9% in the first quarter. KBC Group NV now owns 4,334 shares of the company’s stock valued at $124,000 after buying an additional 1,572 shares during the period. Nykredit A S bought a new position in Cinemark during the second quarter valued at about $135,000. Finally, GAMMA Investing LLC boosted its stake in Cinemark by 10.2% during the second quarter. GAMMA Investing LLC now owns 4,982 shares of the company’s stock valued at $158,000 after buying an additional 462 shares in the last quarter.
Cinemark Company Profile
Cinemark Holdings, Inc is a motion picture exhibition company that operates movie theaters in the United States and Latin America. Through its Cinemark and Century-branded locations, the company offers theatrical screenings of newly released films across a range of formats and venue types.
In addition to movie tickets, Cinemark generates revenue through food and beverage concessions, advertising, and premium entertainment experiences. Its offerings include luxury seating, large-format screens, and enhanced audio and visual presentations, along with online and mobile ticketing and the Movie Club customer loyalty program.
Founded in 1987 by Lee Roy Mitchell, Cinemark is headquartered in Plano, Texas.
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