Deutsche Bank Aktiengesellschaft Begins Coverage on Cinemark (NYSE:CNK)

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

Several other equities research analysts have also recently weighed in on CNK. Roth Capital reduced their price target on shares of Cinemark from $36.00 to $35.00 and set a "buy" rating on the stock in a research report on Wednesday. JPMorgan Chase & Co. lifted their price objective on shares of Cinemark from $34.00 to $35.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Wedbush reaffirmed a "neutral" rating and set a $32.00 price objective on shares of Cinemark in a research note on Monday, April 28th. Barrington Research reaffirmed an "outperform" rating and set a $36.00 price objective on shares of Cinemark in a research note on Monday, May 5th. Finally, B. Riley started coverage on shares of Cinemark in a research note on Friday, May 16th. They set a "neutral" rating and a $35.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $33.58.

Cinemark Stock Performance

NYSE CNK traded up $0.94 on Thursday, reaching $29.75. 5,109,930 shares of the stock were exchanged, compared to its average volume of 3,222,304. Cinemark has a one year low of $20.43 and a one year high of $36.28. The firm has a market capitalization of $3.42 billion, a PE ratio of 19.57, a PEG ratio of 1.76 and a beta of 1.88. The company's 50-day simple moving average is $31.42 and its two-hundred day simple moving average is $29.24. The company has a current ratio of 0.79, a quick ratio of 0.76 and a debt-to-equity ratio of 5.53.

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

Cinemark Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Thursday, May 29th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date of this dividend was Thursday, May 29th. Cinemark's dividend payout ratio (DPR) is 21.05%.

Insider Activity at Cinemark

In other news, insider Wanda Marie Gierhart sold 52,524 shares of Cinemark stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $31.85, for a total value of $1,672,889.40. Following the completion of the transaction, the insider owned 94,890 shares in the company, valued at approximately $3,022,246.50. This trade represents a 35.63% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 directly owned 210,968 shares in the company, 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. Insiders sold 84,724 shares of company stock worth $2,724,435 in the last three months. 2.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CNK. Elequin Capital LP increased its position in Cinemark by 211.6% during the fourth quarter. Elequin Capital LP now owns 997 shares of the company's stock worth $31,000 after buying an additional 677 shares during the period. Russell Investments Group Ltd. increased its holdings in shares of 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 increased its holdings in shares of 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 increased its holdings in shares of 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, CWM LLC increased its holdings in shares of Cinemark by 20.6% in the first quarter. CWM LLC now owns 6,548 shares of the company's stock valued at $163,000 after purchasing an additional 1,118 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.