Morgan Stanley Cuts Cinemark (NYSE:CNK) Price Target to $40.00

Cinemark (NYSE:CNK) had its target price cut by Morgan Stanley from $42.00 to $40.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Several other research analysts also recently commented on CNK. Wall Street Zen downgraded Cinemark from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 29th. Roth Capital set a $40.00 price target on Cinemark in a research note on Thursday, July 30th. B. Riley Financial raised their price objective on Cinemark from $35.00 to $37.00 and gave the stock a “neutral” rating in a research report on Friday, July 31st. JPMorgan Chase & Co. lowered Cinemark from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $40.00 to $39.00 in a research note on Friday, August 14th. Finally, Wedbush upped their target price on Cinemark from $40.00 to $43.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Nine research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $37.93.

Cinemark Price Performance

CNK stock opened at $37.71 on Thursday. The company has a fifty day moving average price of $35.80 and a 200-day moving average price of $31.58. The company has a market capitalization of $4.37 billion, a P/E ratio of 22.32 and a beta of 0.98. Cinemark has a 52-week low of $21.60 and a 52-week high of $38.98. The company has a debt-to-equity ratio of 3.87, a quick ratio of 0.81 and a current ratio of 0.84.

Cinemark (NYSE:CNK) last issued its quarterly earnings results on Thursday, July 30th. The company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.16. The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.03 billion. Cinemark had a net margin of 6.44% and a return on equity of 50.94%. Cinemark’s revenue was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.63 earnings per share. As a group, equities analysts expect that Cinemark will post 2.51 EPS for the current year.

Cinemark Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 9th. Shareholders of record on Wednesday, August 26th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Wednesday, August 26th. This represents a $0.36 dividend on an annualized basis and a yield of 1.0%. Cinemark’s dividend payout ratio is 21.30%.

Institutional Trading of Cinemark

A number of large investors have recently bought and sold shares of the business. Sequoia Financial Advisors LLC bought a new stake in shares of Cinemark during the 2nd quarter valued at about $2,477,000. WINTON GROUP Ltd increased its holdings in Cinemark by 637.5% in the second quarter. WINTON GROUP Ltd now owns 117,527 shares of the company’s stock worth $3,729,000 after purchasing an additional 101,592 shares in the last quarter. Engineers Gate Manager LP acquired a new position in Cinemark in the second quarter valued at approximately $3,671,000. Integrated Wealth Concepts LLC acquired a new position in Cinemark in the second quarter valued at approximately $60,000. Finally, Nykredit A S bought a new position in shares of Cinemark during the 2nd quarter worth approximately $135,000.

Cinemark Company Profile

Cinemark Holdings, Inc is a motion picture exhibition company that operates movie theaters in the United States and Latin America. Through its Cinemark and Century-branded locations, the company offers theatrical screenings of newly released films across a range of formats and venue types.

In addition to movie tickets, Cinemark generates revenue through food and beverage concessions, advertising, and premium entertainment experiences. Its offerings include luxury seating, large-format screens, and enhanced audio and visual presentations, along with online and mobile ticketing and the Movie Club customer loyalty program.

Founded in 1987 by Lee Roy Mitchell, Cinemark is headquartered in Plano, Texas.