Benchmark Cuts Cinemark (NYSE:CNK) Price Target to $35.00

Cinemark (NYSE:CNK) had its price target lowered by Benchmark from $40.00 to $35.00 in a report published on Thursday,Benzinga reports. The firm currently has a buy rating on the stock.

CNK has been the topic of a number of other research reports. Wedbush reiterated a “neutral” rating and set a $32.00 price target on shares of Cinemark in a report on Tuesday, February 18th. JPMorgan Chase & Co. lifted their target price on Cinemark from $29.00 to $31.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. Wells Fargo & Company decreased their price target on Cinemark from $38.00 to $36.00 and set an “overweight” rating for the company in a research note on Wednesday, January 29th. Barrington Research restated an “outperform” rating and set a $40.00 price objective on shares of Cinemark in a research report on Wednesday. Finally, StockNews.com upgraded Cinemark from a “sell” rating to a “hold” rating in a report on Sunday, November 10th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $32.70.

Cinemark Trading Down 1.1 %

Shares of CNK stock opened at $27.47 on Thursday. The company has a quick ratio of 0.96, a current ratio of 1.01 and a debt-to-equity ratio of 3.28. The firm has a market capitalization of $3.36 billion, a P/E ratio of 13.53 and a beta of 2.38. Cinemark has a twelve month low of $15.74 and a twelve month high of $36.28. The stock’s fifty day simple moving average is $30.24 and its 200 day simple moving average is $29.79.

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

Cinemark Dividend Announcement

The firm also recently declared a — dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be issued a dividend of $0.08 per share. The ex-dividend date is Wednesday, March 5th. Cinemark’s payout ratio is 15.76%.

Institutional Trading of Cinemark

Several hedge funds have recently modified their holdings of the stock. LPL Financial LLC grew its holdings in Cinemark by 6.8% in the fourth quarter. LPL Financial LLC now owns 8,722 shares of the company’s stock worth $270,000 after purchasing an additional 556 shares during the period. QRG Capital Management Inc. grew its stake in shares of Cinemark by 3.2% in the 4th quarter. QRG Capital Management Inc. now owns 17,730 shares of the company’s stock valued at $549,000 after buying an additional 557 shares during the period. Natixis Advisors LLC increased its position in Cinemark by 2.9% in the 3rd quarter. Natixis Advisors LLC now owns 20,638 shares of the company’s stock valued at $575,000 after buying an additional 583 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its stake in Cinemark by 3.8% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 16,270 shares of the company’s stock worth $504,000 after buying an additional 591 shares during the period. Finally, Summit Investment Advisors Inc. boosted its holdings in Cinemark by 5.7% in the fourth quarter. Summit Investment Advisors Inc. now owns 11,546 shares of the company’s stock worth $358,000 after acquiring an additional 618 shares in the last quarter.

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.