JPMorgan Chase & Co. Has Lowered Expectations for Cinemark (NYSE:CNK) Stock Price

Cinemark (NYSE:CNK) had its price objective dropped by analysts at JPMorgan Chase & Co. from $37.00 to $31.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 29.40% from the stock’s previous close.

Several other research firms have also weighed in on CNK. Moffett Nathanson upgraded shares of Cinemark from a “neutral” rating to a “buy” rating and set a $30.00 price objective for the company in a research report on Tuesday. Zacks Research upgraded shares of Cinemark from a “strong sell” rating to a “hold” rating in a report on Friday, October 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cinemark in a report on Monday, December 29th. Wells Fargo & Company cut their price objective on Cinemark from $33.00 to $32.00 and set an “overweight” rating for the company in a research report on Wednesday, January 14th. Finally, UBS Group upgraded Cinemark to a “buy” rating in a report on Tuesday. Ten investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Cinemark has an average rating of “Moderate Buy” and an average price target of $33.17.

Cinemark Stock Down 0.7%

Shares of CNK stock opened at $23.96 on Thursday. Cinemark has a 1 year low of $21.60 and a 1 year high of $34.01. The company has a debt-to-equity ratio of 5.01, a quick ratio of 0.72 and a current ratio of 0.76. The business’s fifty day moving average is $24.58 and its 200-day moving average is $26.43. The stock has a market cap of $2.81 billion, a PE ratio of 23.03, a price-to-earnings-growth ratio of 2.39 and a beta of 1.10.

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

Insider Transactions at Cinemark

In other news, EVP Melissa Thomas sold 22,082 shares of the stock in a transaction on Wednesday, December 10th. The stock was 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 owned 167,360 shares in the company, valued at $4,152,201.60. This represents a 11.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Cinemark

Hedge funds have recently bought and sold shares of the business. EverSource Wealth Advisors LLC boosted its position in Cinemark by 118.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 935 shares of the company’s stock worth $28,000 after acquiring an additional 507 shares during the period. Elevation Point Wealth Partners LLC acquired a new stake in shares of Cinemark during the second quarter worth approximately $47,000. Financial Consulate Inc. purchased a new position in Cinemark during the third quarter valued at approximately $50,000. Meeder Asset Management Inc. acquired a new position in Cinemark in the 3rd quarter valued at approximately $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.