Cinemark (NYSE:CNK) Given New $35.00 Price Target at Benchmark

Cinemark (NYSE:CNK) had its price target cut by Benchmark from $40.00 to $35.00 in a research note published on Thursday,Benzinga reports. They currently have a buy rating on the stock.

CNK has been the subject of several other research reports. Barrington Research reaffirmed an “outperform” rating and set a $40.00 price target on shares of Cinemark in a research note on Wednesday. Wells Fargo & Company decreased their target price on Cinemark from $38.00 to $36.00 and set an “overweight” rating for the company in a research report on Wednesday, January 29th. Macquarie increased their price target on Cinemark from $32.00 to $34.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Wedbush restated a “neutral” rating and issued a $32.00 price objective on shares of Cinemark in a report on Tuesday. Finally, StockNews.com upgraded shares of Cinemark from a “sell” rating to a “hold” rating in a report on Sunday, November 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $32.70.

Cinemark Stock Performance

CNK stock opened at $27.72 on Thursday. The firm has a market cap of $3.39 billion, a price-to-earnings ratio of 17.88 and a beta of 2.38. Cinemark has a twelve month low of $15.74 and a twelve month high of $36.28. The company has a quick ratio of 0.96, a current ratio of 0.98 and a debt-to-equity ratio of 3.46. The business’s fifty day simple moving average is $30.33 and its two-hundred day simple moving average is $29.75.

Cinemark (NYSE:CNK) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.06). The company had revenue of $814.30 million during the quarter, compared to analysts’ expectations of $797.18 million. Cinemark had a return on equity of 60.21% and a net margin of 8.36%. The company’s quarterly revenue was up 27.5% on a year-over-year basis. During the same period in the prior year, the business earned ($0.15) EPS. Analysts predict that Cinemark will post 2.08 earnings per share for the current year.

Cinemark Dividend Announcement

The company also recently declared a — dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be issued a $0.08 dividend. The ex-dividend date is Wednesday, March 5th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Mackenzie Financial Corp acquired a new stake in Cinemark in the fourth quarter valued at approximately $221,000. Elequin Capital LP lifted its holdings in shares of Cinemark by 211.6% during the 4th quarter. Elequin Capital LP now owns 997 shares of the company’s stock valued at $31,000 after purchasing an additional 677 shares during the last quarter. PharVision Advisers LLC acquired a new stake in shares of Cinemark in the 4th quarter worth $277,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Cinemark by 24.0% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 319,768 shares of the company’s stock worth $9,906,000 after purchasing an additional 61,911 shares in the last quarter. Finally, Voloridge Investment Management LLC purchased a new position in Cinemark during the 4th quarter worth $8,317,000.

About Cinemark

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.