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

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

Several equities analysts have recently weighed in on CNK shares. Wells Fargo & Company dropped their price objective on shares of Cinemark from $38.00 to $36.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 29th. Wedbush reissued a “neutral” rating and issued a $32.00 price target on shares of Cinemark in a report on Tuesday, February 18th. Barrington Research restated an “outperform” rating and set a $40.00 price objective on shares of Cinemark in a report on Wednesday, February 19th. Macquarie reaffirmed an “outperform” rating and issued a $35.00 target price on shares of Cinemark in a research report on Thursday, February 20th. Finally, Benchmark dropped their price target on Cinemark from $40.00 to $35.00 and set a “buy” rating for the company in a report on Thursday, February 20th.

Cinemark Price Performance

Shares of NYSE CNK opened at $27.19 on Tuesday. 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 business’s 50 day moving average price is $26.81 and its two-hundred day moving average price is $29.19. The company has a market cap of $3.21 billion, a PE ratio of 13.40 and a beta of 2.07. Cinemark has a twelve month low of $16.32 and a twelve month high of $36.28.

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

Cinemark Dividend Announcement

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

Insider Activity

In related news, insider Wanda Marie Gierhart sold 9,119 shares of the stock in a transaction that occurred on Tuesday, February 25th. The shares were 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 in the company, valued at approximately $3,980,178. This trade represents a 5.83 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On Cinemark

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. LPL Financial LLC raised its holdings in shares of Cinemark by 6.8% during the 4th quarter. LPL Financial LLC now owns 8,722 shares of the company’s stock worth $270,000 after buying an additional 556 shares in the last quarter. QRG Capital Management Inc. grew its position in Cinemark by 3.2% in the fourth quarter. QRG Capital Management Inc. now owns 17,730 shares of the company’s stock valued at $549,000 after acquiring an additional 557 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its stake in Cinemark by 3.8% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 16,270 shares of the company’s stock worth $504,000 after acquiring an additional 591 shares in the last quarter. Summit Investment Advisors Inc. lifted its holdings in shares of 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 during the last quarter. Finally, Quarry LP boosted its stake in shares of Cinemark by 41.8% in the 4th quarter. Quarry LP now owns 2,114 shares of the company’s stock valued at $65,000 after purchasing an additional 623 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.