Brokerages Set Cinemark Holdings, Inc. (NYSE:CNK) Target Price at $32.70

Cinemark Holdings, Inc. (NYSE:CNK) has been assigned an average rating of “Moderate Buy” from the eleven analysts that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $32.70.

A number of analysts have commented on the stock. Macquarie reiterated an “outperform” rating and issued a $35.00 price objective on shares of Cinemark in a report on Thursday, February 20th. Morgan Stanley cut their price objective on shares of Cinemark from $40.00 to $35.00 and set an “overweight” rating for the company in a report on Thursday, February 20th. JPMorgan Chase & Co. cut their price target on shares of Cinemark from $31.00 to $30.00 and set a “neutral” rating for the company in a report on Thursday, February 20th. Barrington Research restated an “outperform” rating and set a $40.00 price target on shares of Cinemark in a report on Wednesday, February 19th. Finally, Wells Fargo & Company cut their price target on shares of Cinemark from $38.00 to $36.00 and set an “overweight” rating for the company in a report on Wednesday, January 29th.

Cinemark Stock Up 1.3 %

CNK stock opened at $26.43 on Friday. The company has a market cap of $3.23 billion, a price-to-earnings ratio of 13.02 and a beta of 2.41. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 3.28. Cinemark has a 12 month low of $16.32 and a 12 month high of $36.28. The firm has a 50-day moving average of $27.98 and a two-hundred day moving average of $29.50.

Cinemark (NYSE:CNK) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.06). The business had revenue of $814.30 million during the quarter, compared to analyst estimates of $797.18 million. Cinemark had a net margin of 10.16% and a return on equity of 65.83%. The firm’s revenue was up 27.5% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.15) EPS. As a group, analysts forecast that Cinemark will post 1.93 earnings per share for the current fiscal year.

Cinemark Announces Dividend

The business also recently announced a — dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were issued a $0.08 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. Cinemark’s dividend payout ratio (DPR) is presently 15.76%.

Insider Activity at Cinemark

In other Cinemark news, insider Wanda Marie Gierhart sold 9,119 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $27.00, for a total value of $246,213.00. Following the completion of the transaction, the insider now owns 147,414 shares of the company’s stock, valued at $3,980,178. This trade represents a 5.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 2.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Cinemark

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CNK. Principal Financial Group Inc. boosted its position in Cinemark by 18.8% in the 3rd quarter. Principal Financial Group Inc. now owns 629,782 shares of the company’s stock valued at $17,533,000 after buying an additional 99,843 shares during the period. Crossmark Global Holdings Inc. purchased a new stake in shares of Cinemark during the 3rd quarter worth $209,000. State of New Jersey Common Pension Fund D purchased a new stake in shares of Cinemark during the 3rd quarter worth $1,960,000. Entropy Technologies LP purchased a new stake in shares of Cinemark during the 3rd quarter worth $893,000. Finally, GSA Capital Partners LLP purchased a new stake in shares of Cinemark during the 3rd quarter worth $572,000.

Cinemark Company Profile

Cinemark Holdings, Inc, together with its subsidiaries, engages in the motion picture exhibition business. As of February 16, 2024, it operated 501 theatres with 5,719 screens in 42 states and 13 countries in South and Central America. Cinemark Holdings, Inc was founded in 1984 and is headquartered in Plano, Texas.