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

Cinemark Holdings Inc (NYSE:CNK - Get Free Report) has been given an average recommendation of "Moderate Buy" by the twelve brokerages that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and ten have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $34.00.

A number of equities analysts recently weighed in on CNK shares. Wedbush raised shares of Cinemark from a "neutral" rating to an "outperform" rating and boosted their price target for the stock from $32.00 to $37.00 in a report on Friday, July 11th. Deutsche Bank Aktiengesellschaft started coverage on shares of Cinemark in a report on Thursday, July 10th. They set a "buy" rating and a $36.00 price objective on the stock. JPMorgan Chase & Co. upped their price target on Cinemark from $34.00 to $35.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. Barrington Research reiterated an "outperform" rating and set a $36.00 price target on shares of Cinemark in a research report on Monday, May 5th. Finally, B. Riley assumed coverage on Cinemark in a research report on Friday, May 16th. They set a "neutral" rating and a $35.00 price target on the stock.

Cinemark Price Performance

Shares of CNK traded up $0.24 during mid-day trading on Thursday, reaching $30.23. The company had a trading volume of 3,794,269 shares, compared to its average volume of 3,245,233. The company's 50 day simple moving average is $31.34 and its 200 day simple moving average is $29.20. The company has a debt-to-equity ratio of 5.53, a quick ratio of 0.76 and a current ratio of 0.79. Cinemark has a 1-year low of $21.17 and a 1-year high of $36.28. The company has a market capitalization of $3.48 billion, a price-to-earnings ratio of 19.89, a P/E/G ratio of 2.42 and a beta of 1.88.

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

Cinemark Cuts Dividend

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

Insider Activity

In related news, insider Wanda Marie Gierhart sold 52,524 shares of the business's stock in a transaction that occurred 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 transaction, the insider directly owned 94,890 shares of the company's stock, valued at approximately $3,022,246.50. The trade was a 35.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Valmir Fernandes sold 25,000 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $33.01, for a total value of $825,250.00. Following the transaction, the insider directly owned 130,612 shares in the company, valued at approximately $4,311,502.12. This represents a 16.07% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 84,724 shares of company stock valued at $2,724,435 in the last ninety days. Corporate insiders own 2.10% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CNK. Raymond James Financial Inc. acquired a new stake in shares of Cinemark in the fourth quarter worth approximately $1,494,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Cinemark by 23.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,978 shares of the company's stock valued at $867,000 after acquiring an additional 5,365 shares during the last quarter. HighTower Advisors LLC purchased a new position in shares of Cinemark during the 4th quarter worth approximately $224,000. Swiss National Bank grew its holdings in Cinemark by 0.7% during the 4th quarter. Swiss National Bank now owns 216,600 shares of the company's stock valued at $6,710,000 after buying an additional 1,600 shares during the last quarter. Finally, Natixis Advisors LLC lifted its stake in shares of Cinemark by 13.4% during the 4th quarter. Natixis Advisors LLC now owns 23,405 shares of the company's stock worth $725,000 after purchasing an additional 2,767 shares during the period.

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.