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

Cinemark Holdings, Inc. (NYSE:CNK) has earned a consensus recommendation of “Moderate Buy” from the eleven research firms that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, six have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $32.70.

A number of research firms have weighed in on CNK. Wells Fargo & Company reduced their price objective on shares of Cinemark from $38.00 to $36.00 and set an “overweight” rating for the company in a research report on Wednesday, January 29th. Barrington Research reissued an “outperform” rating and set a $40.00 target price on shares of Cinemark in a report on Wednesday, February 19th. JPMorgan Chase & Co. reduced their target price on shares of Cinemark from $31.00 to $30.00 and set a “neutral” rating for the company in a research report on Thursday, February 20th. Morgan Stanley lowered their price target on shares of Cinemark from $40.00 to $35.00 and set an “overweight” rating on the stock in a research report on Thursday, February 20th. Finally, Benchmark cut their price target on shares of Cinemark from $40.00 to $35.00 and set a “buy” rating for the company in a report on Thursday, February 20th.

Insider Activity

In related news, insider Wanda Marie Gierhart sold 9,119 shares of Cinemark stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $27.00, for a total value of $246,213.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.30% of the company’s stock.

Institutional Trading of Cinemark

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in shares of Cinemark by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 12,505,099 shares of the company’s stock worth $387,408,000 after buying an additional 109,179 shares during the last quarter. Candlestick Capital Management LP grew its position in shares of Cinemark by 48.1% during the fourth quarter. Candlestick Capital Management LP now owns 4,931,618 shares of the company’s stock worth $152,782,000 after acquiring an additional 1,601,537 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Cinemark by 100.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,104,552 shares of the company’s stock valued at $127,159,000 after purchasing an additional 2,054,579 shares during the period. Renaissance Technologies LLC increased its holdings in shares of Cinemark by 12.8% during the fourth quarter. Renaissance Technologies LLC now owns 3,801,578 shares of the company’s stock valued at $117,773,000 after purchasing an additional 430,006 shares during the period. Finally, Marshall Wace LLP lifted its stake in shares of Cinemark by 14.5% in the 4th quarter. Marshall Wace LLP now owns 3,124,834 shares of the company’s stock worth $96,807,000 after acquiring an additional 396,720 shares during the period.

Cinemark Price Performance

Shares of Cinemark stock opened at $24.98 on Friday. The firm has a market cap of $3.06 billion, a PE ratio of 12.31 and a beta of 2.41. The business has a 50-day moving average price of $28.15 and a 200 day moving average price of $29.54. The company has a quick ratio of 0.96, a current ratio of 1.01 and a debt-to-equity ratio of 3.28. Cinemark has a twelve month low of $16.32 and a twelve month high of $36.28.

Cinemark (NYSE:CNK) last posted 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). Cinemark had a net margin of 10.16% and a return on equity of 65.83%. The business had revenue of $814.30 million during the quarter, compared to analysts’ expectations of $797.18 million. During the same quarter last year, the firm earned ($0.15) earnings per share. The firm’s quarterly revenue was up 27.5% compared to the same quarter last year. Sell-side analysts predict that Cinemark will post 1.93 earnings per share for the current fiscal year.

Cinemark Announces Dividend

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

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.