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

Cinemark Holdings, Inc. (NYSE:CNK) has been assigned an average rating of “Moderate Buy” from the eleven brokerages that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation, six have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $32.70.

Several research firms have recently issued reports on CNK. Benchmark reduced their target price on shares of Cinemark from $40.00 to $35.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. Morgan Stanley decreased their price objective on shares of Cinemark from $40.00 to $35.00 and set an “overweight” rating for the company in a research note on Thursday, February 20th. Wedbush reaffirmed a “neutral” rating and issued a $32.00 target price on shares of Cinemark in a report on Tuesday, February 18th. Macquarie reaffirmed an “outperform” rating and set a $35.00 price target on shares of Cinemark in a research report on Thursday, February 20th. Finally, Barrington Research restated an “outperform” rating and issued a $40.00 price objective on shares of Cinemark in a research note on Wednesday, February 19th.

Cinemark Price Performance

Shares of NYSE CNK opened at $24.20 on Friday. The company has a debt-to-equity ratio of 3.28, a quick ratio of 0.96 and a current ratio of 1.01. The firm’s 50-day simple moving average is $28.37 and its 200 day simple moving average is $29.58. The stock has a market cap of $2.96 billion, a price-to-earnings ratio of 11.92 and a beta of 2.41. Cinemark has a fifty-two week low of $16.32 and a fifty-two week high of $36.28.

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

Cinemark Announces Dividend

The firm also recently declared a — dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be given a $0.08 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. Cinemark’s dividend payout ratio (DPR) is currently 15.76%.

Insider Activity at Cinemark

In related news, insider Wanda Marie Gierhart sold 9,119 shares of the stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $27.00, for a total transaction of $246,213.00. Following the sale, the insider now owns 147,414 shares of the company’s stock, valued at approximately $3,980,178. This represents a 5.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Cinemark

Institutional investors and hedge funds have recently modified their holdings of the company. Elequin Capital LP grew its stake in Cinemark by 211.6% during the fourth quarter. Elequin Capital LP now owns 997 shares of the company’s stock valued at $31,000 after acquiring an additional 677 shares in the last quarter. Russell Investments Group Ltd. grew its position in shares of Cinemark by 402.4% during the 4th quarter. Russell Investments Group Ltd. now owns 1,030 shares of the company’s stock valued at $32,000 after purchasing an additional 825 shares in the last quarter. Quarry LP increased its holdings in shares of Cinemark by 714.8% in the third quarter. Quarry LP now owns 1,491 shares of the company’s stock worth $42,000 after purchasing an additional 1,308 shares during the period. Aster Capital Management DIFC Ltd increased its holdings in shares of Cinemark by 380.0% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,896 shares of the company’s stock worth $59,000 after purchasing an additional 1,501 shares during the period. Finally, R Squared Ltd purchased a new stake in shares of Cinemark in the fourth quarter worth $63,000.

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.