JPMorgan Chase & Co. Issues Pessimistic Forecast for Cinemark (NYSE:CNK) Stock Price

Cinemark (NYSE:CNK) had its price objective lowered by equities researchers at JPMorgan Chase & Co. from $37.00 to $31.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 28.13% from the stock’s current price.

A number of other analysts have also commented on CNK. Roth Mkm reaffirmed a “buy” rating and set a $35.00 target price on shares of Cinemark in a report on Wednesday, November 5th. Moffett Nathanson upgraded Cinemark from a “neutral” rating to a “buy” rating and set a $30.00 price objective for the company in a report on Tuesday. Weiss Ratings reissued a “hold (c)” rating on shares of Cinemark in a research note on Monday, December 29th. UBS Group upgraded Cinemark to a “buy” rating in a report on Tuesday. Finally, B. Riley lowered their price target on Cinemark from $35.00 to $29.00 and set a “neutral” rating for the company in a research note on Thursday. Ten analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $33.17.

Cinemark Trading Up 0.1%

NYSE:CNK traded up $0.02 on Thursday, hitting $24.20. 446,520 shares of the stock were exchanged, compared to its average volume of 3,105,018. The company has a debt-to-equity ratio of 5.01, a quick ratio of 0.72 and a current ratio of 0.76. Cinemark has a 52 week low of $21.60 and a 52 week high of $34.01. The stock has a market capitalization of $2.84 billion, a price-to-earnings ratio of 23.25, a P/E/G ratio of 2.43 and a beta of 1.10. The company’s 50-day moving average price is $24.81 and its 200 day moving average price is $26.49.

Cinemark (NYSE:CNK) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.40 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.04). The business had revenue of $857.50 million for the quarter, compared to analyst estimates of $851.47 million. Cinemark had a return on equity of 34.33% and a net margin of 4.93%.The firm’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.19 EPS. On average, equities research analysts forecast that Cinemark will post 1.93 earnings per share for the current year.

Insider Activity at Cinemark

In related news, EVP Melissa Thomas sold 22,082 shares of the business’s stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $24.81, for a total value of $547,854.42. Following the completion of the sale, the executive vice president directly owned 167,360 shares in the company, valued at approximately $4,152,201.60. The trade was a 11.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Cinemark

Several hedge funds and other institutional investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC increased its stake in Cinemark by 118.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 935 shares of the company’s stock valued at $28,000 after buying an additional 507 shares during the period. Elevation Point Wealth Partners LLC purchased a new position in shares of Cinemark in the second quarter worth approximately $47,000. Financial Consulate Inc. acquired a new stake in shares of Cinemark in the third quarter worth $50,000. Meeder Asset Management Inc. acquired a new position in shares of Cinemark in the 3rd quarter valued at about $63,000. Finally, Smartleaf Asset Management LLC lifted its position in Cinemark by 20.1% in the 3rd quarter. Smartleaf Asset Management LLC now owns 3,027 shares of the company’s stock worth $83,000 after buying an additional 506 shares in 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.