Analysts Set Cinemark Holdings Inc (NYSE:CNK) Target Price at $35.30

Cinemark Holdings Inc (NYSE:CNK) has received a consensus recommendation of “Moderate Buy” from the twelve brokerages that are presently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $35.30.

A number of brokerages have recently commented on CNK. Roth Capital dropped their target price on Cinemark from $36.00 to $34.00 and set a “buy” rating for the company in a report on Monday, August 4th. Morgan Stanley dropped their target price on Cinemark from $35.00 to $34.00 and set an “overweight” rating for the company in a report on Tuesday, October 21st. Barrington Research reiterated an “outperform” rating and issued a $36.00 target price on shares of Cinemark in a report on Tuesday, September 23rd. Wells Fargo & Company reiterated an “overweight” rating and issued a $33.00 target price (down previously from $36.00) on shares of Cinemark in a report on Monday, August 4th. Finally, Zacks Research upgraded Cinemark from a “strong sell” rating to a “hold” rating in a report on Friday, October 3rd.

Insider Activity

In related news, EVP Melissa Thomas sold 7,200 shares of the firm’s stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $25.17, for a total transaction of $181,224.00. Following the completion of the sale, the executive vice president directly owned 203,768 shares of the company’s stock, valued at approximately $5,128,840.56. This trade represents a 3.41% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On Cinemark

A number of institutional investors and hedge funds have recently modified their holdings of CNK. New York State Teachers Retirement System lifted its stake in shares of Cinemark by 2.5% during the 1st quarter. New York State Teachers Retirement System now owns 101,388 shares of the company’s stock worth $2,524,000 after acquiring an additional 2,450 shares during the last quarter. Teacher Retirement System of Texas bought a new stake in shares of Cinemark during the 1st quarter worth approximately $401,000. Principal Financial Group Inc. lifted its stake in shares of Cinemark by 2.8% during the 1st quarter. Principal Financial Group Inc. now owns 681,435 shares of the company’s stock worth $16,961,000 after acquiring an additional 18,645 shares during the last quarter. Alps Advisors Inc. bought a new stake in shares of Cinemark during the 1st quarter worth approximately $359,000. Finally, Cerity Partners LLC bought a new stake in shares of Cinemark during the 1st quarter worth approximately $2,081,000.

Cinemark Price Performance

Shares of Cinemark stock opened at $27.14 on Friday. The stock has a market cap of $3.12 billion, a price-to-earnings ratio of 14.83, a price-to-earnings-growth ratio of 1.89 and a beta of 1.75. The company has a debt-to-equity ratio of 4.32, a quick ratio of 0.88 and a current ratio of 0.91. The stock has a 50 day moving average price of $26.95 and a 200-day moving average price of $28.83. Cinemark has a one year low of $23.12 and a one year high of $36.28.

Cinemark (NYSE:CNK) last announced its earnings results on Friday, August 1st. The company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.15). The company had revenue of $940.50 million during the quarter, compared to analysts’ expectations of $942.14 million. Cinemark had a return on equity of 59.16% and a net margin of 9.13%.Cinemark’s revenue for the quarter was up 28.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.32 EPS. Equities analysts expect that Cinemark will post 1.93 EPS for the current year.

Cinemark Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Wednesday, August 27th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Wednesday, August 27th. Cinemark’s dividend payout ratio (DPR) is currently 17.49%.

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.