Cinemark Holdings Inc (NYSE:CNK) Given Average Rating of "Moderate Buy" by Analysts

Shares of Cinemark Holdings Inc (NYSE:CNK - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the ten ratings firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $33.20.

Several analysts have weighed in on CNK shares. Barrington Research reissued an "outperform" rating and issued a $36.00 price target on shares of Cinemark in a research note on Monday, May 5th. B. Riley assumed coverage on Cinemark in a research note on Friday, May 16th. They set a "neutral" rating and a $35.00 price objective for the company. JPMorgan Chase & Co. raised their target price on shares of Cinemark from $34.00 to $35.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Finally, Wedbush reaffirmed a "neutral" rating and issued a $32.00 target price on shares of Cinemark in a research note on Monday, April 28th.

Insiders Place Their Bets

In related news, insider Wanda Marie Gierhart sold 52,524 shares of the company's stock in a transaction on Friday, June 13th. The stock was sold at an average price of $31.85, for a total value of $1,672,889.40. Following the sale, the insider now directly owns 94,890 shares of the company's stock, valued at $3,022,246.50. This represents a 35.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Melissa Thomas sold 7,200 shares of the stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $31.43, for a total value of $226,296.00. Following the completion of the transaction, the executive vice president now owns 210,968 shares of the company's stock, valued at approximately $6,630,724.24. This trade represents a 3.30% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 84,724 shares of company stock worth $2,724,435. 2.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Cinemark

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Arrowstreet Capital Limited Partnership grew its holdings in Cinemark by 100.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,104,552 shares of the company's stock worth $127,159,000 after purchasing an additional 2,054,579 shares during the period. Candlestick Capital Management LP lifted its holdings 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 valued at $152,782,000 after purchasing an additional 1,601,537 shares during the last quarter. Nuveen LLC bought a new stake in shares of Cinemark in the 1st quarter worth approximately $32,297,000. Simcoe Capital Management LLC bought a new stake in shares of Cinemark in the 4th quarter worth approximately $37,763,000. Finally, Wellington Management Group LLP grew its stake in shares of Cinemark by 12.9% in the 1st quarter. Wellington Management Group LLP now owns 9,346,856 shares of the company's stock worth $232,643,000 after buying an additional 1,066,225 shares during the last quarter.

Cinemark Price Performance

Shares of CNK traded down $0.48 during midday trading on Friday, reaching $30.16. The stock had a trading volume of 3,157,224 shares, compared to its average volume of 3,119,568. The company has a current ratio of 0.79, a quick ratio of 0.76 and a debt-to-equity ratio of 5.53. The company has a market capitalization of $3.47 billion, a price-to-earnings ratio of 19.84, a price-to-earnings-growth ratio of 1.84 and a beta of 1.93. The company's 50-day moving average is $31.19 and its 200 day moving average is $29.37. Cinemark has a 12-month low of $20.43 and a 12-month high of $36.28.

Cinemark (NYSE:CNK - Get Free Report) last released its earnings results on Friday, May 2nd. The company reported ($0.32) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.32). The company had revenue of $540.70 million during the quarter, compared to the consensus estimate of $604.62 million. Cinemark had a return on equity of 51.68% and a net margin of 8.17%. Cinemark's quarterly revenue was down 6.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.19 EPS. On average, equities analysts predict that Cinemark will post 1.93 EPS for the current fiscal year.

Cinemark Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Thursday, May 29th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date of this dividend was Thursday, May 29th. Cinemark's payout ratio is currently 21.05%.

About Cinemark

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.