Cinemark Holdings Inc (NYSE:CNK) Receives $34.73 Average Target Price from Analysts

Cinemark Holdings Inc (NYSE:CNK) has been given an average recommendation of “Moderate Buy” by the twelve analysts that are presently covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $34.6364.

Several research firms have recently issued reports on CNK. Roth Capital reissued a “buy” rating and set a $35.00 target price on shares of Cinemark in a report on Wednesday, November 5th. Zacks Research upgraded shares of Cinemark from a “strong sell” rating to a “hold” rating in a research note on Friday, October 3rd. Morgan Stanley reissued an “equal weight” rating and issued a $28.00 target price (down from $35.00) on shares of Cinemark in a report on Thursday, December 18th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cinemark in a report on Monday, December 29th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Cinemark from $38.00 to $37.00 and set an “overweight” rating on the stock in a research note on Thursday, November 6th.

Insider Buying and Selling at Cinemark

In related news, EVP Melissa Thomas sold 22,082 shares of the company’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $24.81, for a total transaction of $547,854.42. Following the completion of the sale, the executive vice president directly owned 167,360 shares in the company, valued at $4,152,201.60. This represents a 11.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Amalgamated Bank increased its position in Cinemark by 1.7% during the 3rd quarter. Amalgamated Bank now owns 29,626 shares of the company’s stock worth $830,000 after purchasing an additional 488 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in shares of Cinemark by 20.1% during the third quarter. Smartleaf Asset Management LLC now owns 3,027 shares of the company’s stock worth $83,000 after buying an additional 506 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Cinemark by 118.5% during the second quarter. EverSource Wealth Advisors LLC now owns 935 shares of the company’s stock worth $28,000 after buying an additional 507 shares in the last quarter. QRG Capital Management Inc. lifted its stake in shares of Cinemark by 3.2% in the 2nd quarter. QRG Capital Management Inc. now owns 16,894 shares of the company’s stock valued at $510,000 after acquiring an additional 521 shares during the last quarter. Finally, Resona Asset Management Co. Ltd. boosted its holdings in shares of Cinemark by 7.2% during the 2nd quarter. Resona Asset Management Co. Ltd. now owns 12,056 shares of the company’s stock valued at $364,000 after acquiring an additional 812 shares in the last quarter.

Cinemark Stock Up 4.4%

Shares of CNK opened at $24.10 on Thursday. The company has a current ratio of 0.76, a quick ratio of 0.72 and a debt-to-equity ratio of 5.01. Cinemark has a 12 month low of $21.60 and a 12 month high of $34.01. The firm’s 50 day moving average is $25.35 and its 200-day moving average is $26.71. The stock has a market capitalization of $2.83 billion, a PE ratio of 23.17, a P/E/G ratio of 2.29 and a beta of 1.10.

Cinemark (NYSE:CNK) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.04). The company had revenue of $857.50 million for the quarter, compared to analyst estimates of $851.47 million. Cinemark had a return on equity of 34.33% and a net margin of 4.93%.The company’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.19 EPS. Equities research analysts forecast that Cinemark will post 1.93 EPS for the current year.

Cinemark Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 12th. Stockholders of record on Friday, November 28th were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Friday, November 28th. This is a positive change from Cinemark’s previous quarterly dividend of $0.08. Cinemark’s dividend payout ratio is 34.62%.

Cinemark Company Profile

Cinemark Holdings, Inc (NYSE: CNK) is a leading theatrical exhibitor that acquires, develops and operates motion picture theatres under the Cinemark® brand in the United States and Latin America. The company’s core business involves the presentation of first-run feature films coupled with an array of in‐theatre services, including concessions, premium auditoriums and loyalty programs. Cinemark’s exhibition portfolio encompasses both corporate‐owned and franchised complexes, offering moviegoers a range of experiences from standard screens to large‐format halls.

The company’s product offerings extend beyond ticket sales to include an assortment of concession items, such as popcorn, fountain beverages, candy and specialty snacks, as well as bar and lounge concepts in select locations.