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

Cinemark Holdings, Inc. (NYSE:CNK - Get Free Report) has earned an average recommendation of "Moderate Buy" from the eleven ratings firms that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $33.20.

CNK has been the topic of several recent analyst reports. B. Riley initiated coverage on shares of Cinemark in a research note on Friday, May 16th. They set a "neutral" rating and a $35.00 price objective on the stock. Wells Fargo & Company lowered their price objective on shares of Cinemark from $38.00 to $36.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 29th. Barrington Research restated an "outperform" rating and set a $36.00 price objective on shares of Cinemark in a research note on Monday, May 5th. Wedbush restated a "neutral" rating and set a $32.00 price objective on shares of Cinemark in a research note on Monday, April 28th. Finally, Macquarie restated an "outperform" rating and set a $35.00 price objective on shares of Cinemark in a research note on Thursday, February 20th.

Cinemark Stock Down 0.5%

CNK stock traded down $0.15 during midday trading on Wednesday, hitting $33.01. The company's stock had a trading volume of 1,925,524 shares, compared to its average volume of 3,018,045. The company has a debt-to-equity ratio of 3.28, a current ratio of 1.01 and a quick ratio of 0.96. Cinemark has a twelve month low of $16.32 and a twelve month high of $36.28. The company's fifty day moving average price is $28.85 and its 200 day moving average price is $29.59. The stock has a market capitalization of $3.80 billion, a P/E ratio of 16.26 and a beta of 1.91.

Cinemark (NYSE:CNK - Get Free Report) last released its quarterly earnings data on Friday, May 2nd. The company reported ($0.32) earnings per share for the quarter, hitting the consensus estimate of ($0.32). The company had revenue of $540.70 million for the quarter, compared to analyst estimates of $604.62 million. Cinemark had a net margin of 10.16% and a return on equity of 65.83%. Cinemark's revenue for the quarter was down 6.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.19 EPS. As a group, equities research analysts predict that Cinemark will post 1.93 EPS for the current year.

Cinemark Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 29th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Thursday, May 29th. This represents a $0.32 dividend on an annualized basis and a yield of 0.97%. Cinemark's dividend payout ratio (DPR) is 21.05%.

Insiders Place Their Bets

In other news, insider Valmir Fernandes sold 25,000 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $33.01, for a total value of $825,250.00. Following the completion of the transaction, the insider now owns 130,612 shares of the company's stock, valued at approximately $4,311,502.12. This represents a 16.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Melissa Thomas sold 7,200 shares of the stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $31.43, for a total transaction of $226,296.00. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Corporate insiders own 2.10% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Elequin Capital LP raised its position in Cinemark by 211.6% in the fourth quarter. Elequin Capital LP now owns 997 shares of the company's stock valued at $31,000 after purchasing an additional 677 shares during the last quarter. Russell Investments Group Ltd. raised 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 valued at $32,000 after buying an additional 825 shares during the last quarter. Aster Capital Management DIFC Ltd boosted its position in Cinemark by 380.0% during 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 bought a new stake in Cinemark during the 4th quarter worth approximately $63,000. Finally, Quarry LP grew its holdings in Cinemark by 41.8% during the 4th quarter. Quarry LP now owns 2,114 shares of the company's stock worth $65,000 after acquiring an additional 623 shares during the last quarter.

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.