Cinemark Holdings Inc (NYSE:CNK) Receives Average Rating of "Moderate Buy" from Brokerages

Key Points

• Cinemark Holdings Inc has received an average rating of "Moderate Buy" from twelve research firms, with one sell, one hold, and ten buy ratings.
• The company's recent earnings report showed EPS of $0.63, missing estimates by $0.15, with a revenue increase of 28.1% year-over-year.
• Cinemark's stock price target ranges from $33.00 to $36.00, with a market cap of $2.86 billion.

Shares of Cinemark Holdings Inc (NYSE:CNK - Get Free Report) have been given an average recommendation of "Moderate Buy" by the twelve research firms that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have issued a buy rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $33.6667.

A number of research analysts have recently commented on the company. Benchmark reaffirmed a "buy" rating and set a $35.00 price target on shares of Cinemark in a research report on Wednesday, July 2nd. 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. Deutsche Bank Aktiengesellschaft assumed coverage on Cinemark in a research report on Thursday, July 10th. They set a "buy" rating and a $36.00 price target on the stock. Wells Fargo & Company reaffirmed an "overweight" rating and set a $33.00 price target (down previously from $36.00) on shares of Cinemark in a research report on Monday, August 4th. 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 Stock Down 0.6%

CNK stock opened at $24.83 on Monday. The stock's fifty day simple moving average is $29.88 and its two-hundred day simple moving average is $28.93. The company has a current ratio of 0.91, a quick ratio of 0.88 and a debt-to-equity ratio of 4.32. Cinemark has a 1-year low of $23.12 and a 1-year high of $36.28. The stock has a market cap of $2.86 billion, a P/E ratio of 13.57, a P/E/G ratio of 1.78 and a beta of 1.90.

Cinemark (NYSE:CNK - Get Free Report) last posted its quarterly earnings data on Friday, August 1st. The company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.15). Cinemark had a return on equity of 59.16% and a net margin of 9.13%. The business had revenue of $940.50 million during the quarter, compared to analysts' expectations of $942.14 million. During the same period in the prior year, the firm posted $0.32 EPS. The firm's revenue for the quarter was up 28.1% 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 announced a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Thursday, May 29th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date was Thursday, May 29th. Cinemark's dividend payout ratio is currently 17.49%.

Insiders Place Their Bets

In other Cinemark news, EVP Melissa Thomas sold 7,200 shares of Cinemark stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $31.43, for a total transaction of $226,296.00. Following the transaction, the executive vice president directly owned 210,968 shares of the company's stock, valued at approximately $6,630,724.24. This trade represents a 3.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Valmir Fernandes sold 25,000 shares of Cinemark stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $33.01, for a total transaction of $825,250.00. Following the transaction, the insider directly owned 130,612 shares in the company, valued at $4,311,502.12. This trade represents a 16.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 84,724 shares of company stock worth $2,724,435 in the last ninety days. 2.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Alberta Investment Management Corp purchased a new stake in Cinemark during the 2nd quarter valued at about $724,000. Creative Planning boosted its holdings in Cinemark by 80.2% during the 2nd quarter. Creative Planning now owns 28,363 shares of the company's stock valued at $856,000 after acquiring an additional 12,627 shares during the period. Candriam S.C.A. purchased a new stake in Cinemark during the 2nd quarter valued at about $1,238,000. denkapparat Operations GmbH boosted its holdings in Cinemark by 26.4% during the 2nd quarter. denkapparat Operations GmbH now owns 26,692 shares of the company's stock valued at $806,000 after acquiring an additional 5,570 shares during the period. Finally, Campbell & CO Investment Adviser LLC boosted its holdings in Cinemark by 52.9% during the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 79,195 shares of the company's stock valued at $2,390,000 after acquiring an additional 27,413 shares during the period.

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.

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