JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Cinemark (NYSE:CNK) Stock

Cinemark (NYSE:CNK) had its price target upped by equities researchers at JPMorgan Chase & Co. from $31.00 to $35.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 13.61% from the stock’s current price.

Several other equities analysts also recently weighed in on the stock. Zacks Research upgraded shares of Cinemark from a “strong sell” rating to a “hold” rating in a report on Monday, March 2nd. Morgan Stanley reaffirmed an “equal weight” rating and set a $28.00 price objective (down from $35.00) on shares of Cinemark in a research note on Thursday, December 18th. Wall Street Zen raised shares of Cinemark from a “sell” rating to a “hold” rating in a research note on Saturday, February 21st. B. Riley Financial reaffirmed a “neutral” rating on shares of Cinemark in a research note on Thursday, February 19th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $32.00 price objective on shares of Cinemark in a research note on Thursday, February 19th. Ten equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $32.69.

Cinemark Price Performance

Shares of NYSE:CNK opened at $30.81 on Wednesday. Cinemark has a twelve month low of $21.60 and a twelve month high of $34.01. The company’s 50 day moving average is $26.96 and its 200 day moving average is $26.20. The company has a current ratio of 0.71, a quick ratio of 0.67 and a debt-to-equity ratio of 4.74. The company has a market cap of $3.60 billion, a PE ratio of 35.41 and a beta of 1.09.

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

Insider Activity at Cinemark

In other news, EVP Melissa Thomas sold 7,944 shares of the firm’s stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $26.05, for a total transaction of $206,941.20. Following the sale, the executive vice president owned 159,416 shares of the company’s stock, valued at $4,152,786.80. This trade represents a 4.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CNK. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Cinemark by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,699 shares of the company’s stock valued at $1,635,000 after buying an additional 2,872 shares in the last quarter. Woodline Partners LP purchased a new position in shares of Cinemark during the 1st quarter valued at approximately $570,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Cinemark by 8.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 345,258 shares of the company’s stock valued at $8,593,000 after buying an additional 25,490 shares in the last quarter. Acadian Asset Management LLC purchased a new position in shares of Cinemark during the 1st quarter valued at approximately $372,000. Finally, Russell Investments Group Ltd. lifted its position in shares of Cinemark by 48.0% during the 2nd quarter. Russell Investments Group Ltd. now owns 5,228 shares of the company’s stock valued at $158,000 after buying an additional 1,696 shares in the last quarter.

Cinemark Company Profile

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.