B. Riley Financial Cuts Cinemark (NYSE:CNK) Price Target to $35.00

Cinemark (NYSE:CNK) had its target price decreased by B. Riley Financial from $36.00 to $35.00 in a research note published on Friday morning,Benzinga reports. B. Riley Financial currently has a neutral rating on the stock.

CNK has been the subject of several other research reports. The Goldman Sachs Group raised Cinemark from a “sell” rating to a “neutral” rating and boosted their target price for the company from $23.00 to $30.00 in a research report on Wednesday, July 8th. Wall Street Zen upgraded Cinemark from a “hold” rating to a “buy” rating in a research report on Sunday, May 31st. JPMorgan Chase & Co. raised their price target on Cinemark from $35.00 to $36.00 and gave the stock an “overweight” rating in a research report on Monday, May 4th. Roth Capital reaffirmed a “buy” rating and issued a $38.00 price objective on shares of Cinemark in a research note on Friday. Finally, Barrington Research reiterated an “outperform” rating and issued a $36.00 price objective on shares of Cinemark in a report on Monday, May 4th. Seven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $34.58.

Cinemark Trading Down 0.0%

Shares of CNK stock opened at $30.42 on Friday. Cinemark has a 1-year low of $21.60 and a 1-year high of $34.73. The firm has a market cap of $3.55 billion, a PE ratio of 26.92 and a beta of 0.98. The company has a 50-day moving average of $30.12 and a two-hundred day moving average of $27.79. The company has a debt-to-equity ratio of 5.03, a current ratio of 0.62 and a quick ratio of 0.58.

Cinemark (NYSE:CNK) last released its quarterly earnings results on Friday, May 1st. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). Cinemark had a net margin of 5.31% and a return on equity of 41.31%. The company had revenue of $643.10 million during the quarter, compared to analysts’ expectations of $632.74 million. During the same period last year, the firm posted ($0.32) earnings per share. Cinemark’s revenue was up 18.9% on a year-over-year basis. On average, analysts predict that Cinemark will post 2.18 EPS for the current year.

Cinemark Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Thursday, May 28th were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Thursday, May 28th. Cinemark’s dividend payout ratio is presently 31.86%.

Hedge Funds Weigh In On Cinemark

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Cinemark by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,699 shares of the company’s stock valued at $1,635,000 after acquiring an additional 2,872 shares in the last quarter. Woodline Partners LP purchased a new position in Cinemark in the first quarter valued at $570,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Cinemark by 8.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 345,258 shares of the company’s stock worth $8,593,000 after purchasing an additional 25,490 shares in the last quarter. Acadian Asset Management LLC acquired a new position in Cinemark during the 1st quarter worth $372,000. Finally, Russell Investments Group Ltd. increased its holdings in Cinemark by 48.0% during the 2nd quarter. Russell Investments Group Ltd. now owns 5,228 shares of the company’s stock worth $158,000 after purchasing an additional 1,696 shares during the period.

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.