Cinemark (NYSE:CNK) Price Target Raised to $35.00 at JPMorgan Chase & Co.

Cinemark (NYSE:CNK - Free Report) had its price target lifted by JPMorgan Chase & Co. from $34.00 to $35.00 in a research note published on Monday,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other research firms also recently commented on CNK. Benchmark reduced their target price on Cinemark from $40.00 to $35.00 and set a "buy" rating for the company in a report on Thursday, February 20th. Wedbush reissued a "neutral" rating and set a $32.00 price objective on shares of Cinemark in a report on Monday, April 28th. Wells Fargo & Company dropped their target price on shares of Cinemark from $38.00 to $36.00 and set an "overweight" rating for the company in a report on Wednesday, January 29th. Morgan Stanley decreased their price target on Cinemark from $40.00 to $35.00 and set an "overweight" rating on the stock in a research note on Thursday, February 20th. Finally, Barrington Research reaffirmed an "outperform" rating and issued a $40.00 price objective on shares of Cinemark in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Cinemark currently has an average rating of "Moderate Buy" and a consensus target price of $32.80.

Cinemark Stock Performance

Shares of Cinemark stock traded up $0.24 on Monday, reaching $31.25. 2,176,305 shares of the stock were exchanged, compared to its average volume of 3,017,231. The firm has a market capitalization of $3.68 billion, a PE ratio of 15.39 and a beta of 1.91. Cinemark has a 1-year low of $16.32 and a 1-year high of $36.28. The business has a fifty day moving average price of $26.96 and a two-hundred day moving average price of $29.40. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 3.28.

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

Cinemark Dividend Announcement

The business also recently disclosed a -- dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were paid a dividend of $0.08 per share. The ex-dividend date was Wednesday, March 5th. Cinemark's payout ratio is currently 21.05%.

Insider Buying and Selling

In related news, insider Wanda Marie Gierhart sold 9,119 shares of the firm's stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $27.00, for a total transaction of $246,213.00. Following the sale, the insider now owns 147,414 shares in the company, valued at approximately $3,980,178. This trade represents a 5.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Elequin Capital LP increased its stake 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. increased its stake in shares of Cinemark by 402.4% during the 4th quarter. Russell Investments Group Ltd. now owns 1,030 shares of the company's stock valued at $32,000 after acquiring an additional 825 shares during the last quarter. Aster Capital Management DIFC Ltd lifted its holdings in shares of 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 acquiring an additional 1,501 shares during the period. R Squared Ltd acquired a new stake in shares of Cinemark in the fourth quarter worth approximately $63,000. Finally, Quarry LP grew its holdings in Cinemark by 41.8% in the fourth quarter. Quarry LP now owns 2,114 shares of the company's stock valued at $65,000 after purchasing an additional 623 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.