Analysts Set Cinemark Holdings, Inc. (NYSE:CNK) Price Target at $33.20

Cinemark Holdings, Inc. (NYSE:CNK - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the eleven ratings firms that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $33.20.

A number of equities analysts have recently issued reports on CNK shares. B. Riley assumed coverage on Cinemark in a research report on Friday, May 16th. They set a "neutral" rating and a $35.00 price objective for the company. JPMorgan Chase & Co. boosted their price target on shares of Cinemark from $34.00 to $35.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Morgan Stanley decreased their price target on Cinemark from $40.00 to $35.00 and set an "overweight" rating for the company in a report on Thursday, February 20th. Wedbush reaffirmed a "neutral" rating and issued a $32.00 price objective on shares of Cinemark in a research report on Monday, April 28th. Finally, Barrington Research reiterated an "outperform" rating and set a $36.00 price target on shares of Cinemark in a research note on Monday, May 5th.

Insider Transactions at Cinemark

In related news, EVP Melissa Thomas sold 7,200 shares of the firm's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $31.43, for a total value of $226,296.00. Following the sale, the executive vice president now directly owns 210,968 shares of the company's stock, valued at $6,630,724.24. This trade represents a 3.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Valmir Fernandes sold 25,000 shares of the stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $33.01, for a total transaction of $825,250.00. Following the completion of the transaction, the insider now directly owns 130,612 shares of the company's stock, valued at approximately $4,311,502.12. The trade was a 16.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.10% of the company's stock.

Institutional Investors Weigh In On Cinemark

Several hedge funds have recently added to or reduced their stakes in CNK. Elequin Capital LP lifted its position in Cinemark by 211.6% in the 4th quarter. Elequin Capital LP now owns 997 shares of the company's stock valued at $31,000 after acquiring an additional 677 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in Cinemark by 402.4% in the 4th quarter. Russell Investments Group Ltd. now owns 1,030 shares of the company's stock worth $32,000 after acquiring an additional 825 shares in the last quarter. Aster Capital Management DIFC Ltd boosted its holdings in Cinemark by 380.0% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,896 shares of the company's stock worth $59,000 after buying an additional 1,501 shares during the period. R Squared Ltd purchased a new stake in shares of Cinemark during the fourth quarter worth about $63,000. Finally, Quarry LP boosted its stake in Cinemark by 41.8% in the 4th quarter. Quarry LP now owns 2,114 shares of the company's stock worth $65,000 after purchasing an additional 623 shares during the period.

Cinemark Price Performance

Shares of CNK traded up $0.80 during mid-day trading on Wednesday, reaching $33.76. The company had a trading volume of 2,969,920 shares, compared to its average volume of 3,018,442. The company has a market capitalization of $3.88 billion, a price-to-earnings ratio of 16.63 and a beta of 1.91. The company has a debt-to-equity ratio of 3.28, a quick ratio of 0.96 and a current ratio of 1.01. The company's 50 day simple moving average is $29.17 and its 200 day simple moving average is $29.57. Cinemark has a 1-year low of $16.32 and a 1-year high of $36.28.

Cinemark (NYSE:CNK - Get Free Report) last posted 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). Cinemark had a net margin of 10.16% and a return on equity of 65.83%. The firm had revenue of $540.70 million for the quarter, compared to analysts' expectations of $604.62 million. During the same quarter in the previous year, the firm posted $0.19 earnings per share. The company's revenue was down 6.6% on a year-over-year basis. Analysts expect that Cinemark will post 1.93 EPS for the current year.

Cinemark Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 29th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date of this dividend is Thursday, May 29th. Cinemark's payout ratio is currently 21.05%.

Cinemark Company Profile

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.