Cinemark (NYSE:CNK) Earns Buy Rating from Analysts at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft assumed coverage on shares of Cinemark (NYSE:CNK - Free Report) in a report issued on Thursday, Marketbeat Ratings reports. The firm issued a buy rating and a $36.00 price target on the stock.

A number of other research firms have also recently weighed in on CNK. Wedbush restated a "neutral" rating and issued a $32.00 price target on shares of Cinemark in a research note on Monday, April 28th. Roth Capital cut their price target on Cinemark from $36.00 to $35.00 and set a "buy" rating on the stock in a research note on Wednesday. Barrington Research reaffirmed an "outperform" rating and set a $36.00 price objective on shares of Cinemark in a report on Monday, May 5th. JPMorgan Chase & Co. raised their price objective on Cinemark from $34.00 to $35.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Finally, Benchmark reaffirmed a "buy" rating and set a $35.00 price objective on shares of Cinemark in a report on Wednesday, July 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $34.00.

Cinemark Stock Down 0.2%

Cinemark stock traded down $0.05 during midday trading on Thursday, reaching $29.80. The company's stock had a trading volume of 5,315,614 shares, compared to its average volume of 3,234,781. Cinemark has a fifty-two week low of $20.43 and a fifty-two week high of $36.28. The company has a quick ratio of 0.76, a current ratio of 0.79 and a debt-to-equity ratio of 5.53. The company has a market cap of $3.43 billion, a P/E ratio of 19.61, a P/E/G ratio of 1.82 and a beta of 1.88. The business has a 50-day simple moving average of $31.41 and a 200-day simple moving average of $29.21.

Cinemark (NYSE:CNK - Get Free Report) last posted its quarterly earnings results on Friday, May 2nd. The company reported ($0.32) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.32). Cinemark had a return on equity of 51.68% and a net margin of 8.17%. The company had revenue of $540.70 million for the quarter, compared to analysts' expectations of $604.62 million. During the same period last year, the firm earned $0.19 earnings per share. Cinemark's quarterly revenue was down 6.6% on a year-over-year basis. On average, research analysts expect that Cinemark will post 1.93 earnings per share for the current fiscal year.

Cinemark Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Thursday, May 29th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend was Thursday, May 29th. Cinemark's dividend payout ratio (DPR) is presently 21.05%.

Insider Buying and Selling at Cinemark

In other Cinemark news, EVP Melissa Thomas sold 7,200 shares of the stock in a transaction that occurred on 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 sale, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Valmir Fernandes sold 25,000 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $33.01, for a total value of $825,250.00. Following the sale, the insider directly owned 130,612 shares of the company's stock, valued at $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. Insiders sold a total of 84,724 shares of company stock valued at $2,724,435 in the last ninety days. Insiders own 2.30% of the company's stock.

Institutional Trading of Cinemark

Hedge funds have recently added to or reduced their stakes in the stock. Elequin Capital LP lifted its position in Cinemark by 211.6% during the 4th quarter. Elequin Capital LP now owns 997 shares of the company's stock worth $31,000 after acquiring an additional 677 shares during the period. Russell Investments Group Ltd. lifted its position in Cinemark by 402.4% in the fourth quarter. Russell Investments Group Ltd. now owns 1,030 shares of the company's stock valued at $32,000 after purchasing an additional 825 shares during the period. Aster Capital Management DIFC Ltd lifted its position in Cinemark by 380.0% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,896 shares of the company's stock valued at $59,000 after purchasing an additional 1,501 shares during the period. Quarry LP lifted its position 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. Finally, New Age Alpha Advisors LLC acquired a new stake in Cinemark in the fourth quarter valued at about $183,000.

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.