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

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

A number of other analysts have also recently commented on the company. Benchmark restated a "buy" rating and issued a $35.00 price target on shares of Cinemark in a research report on Wednesday, July 2nd. Roth Capital cut their target price on Cinemark from $36.00 to $35.00 and set a "buy" rating for the company in a research report on Wednesday. B. Riley began coverage on Cinemark in a research report on Friday, May 16th. They set a "neutral" rating and a $35.00 target price for the company. Wedbush reiterated a "neutral" rating and set a $32.00 target price on shares of Cinemark in a research report on Monday, April 28th. Finally, JPMorgan Chase & Co. increased their price target on Cinemark from $34.00 to $35.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $34.00.

Cinemark Stock Performance

CNK traded up $0.00 during midday trading on Thursday, reaching $29.85. The company had a trading volume of 2,863,273 shares, compared to its average volume of 3,221,509. 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 business has a 50-day moving average of $31.42 and a two-hundred day moving average of $29.24. The company has a market cap of $3.43 billion, a P/E ratio of 19.69, a P/E/G ratio of 1.76 and a beta of 1.88. Cinemark has a 1 year low of $20.43 and a 1 year high of $36.28.

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

Cinemark Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Thursday, May 29th were issued a dividend of $0.08 per share. The ex-dividend date was Thursday, May 29th. This represents a $0.32 annualized dividend and a yield of 1.07%. Cinemark's payout ratio is currently 21.05%.

Insiders Place Their Bets

In other Cinemark news, EVP Melissa Thomas sold 7,200 shares of the firm's stock in a transaction 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 transaction, 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Wanda Marie Gierhart sold 52,524 shares of the firm's stock in a transaction on 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 transaction, the insider owned 94,890 shares in the company, valued at $3,022,246.50. The trade was a 35.63% 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. 2.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CNK. Elequin Capital LP increased its holdings in shares of Cinemark by 211.6% in the 4th quarter. Elequin Capital LP now owns 997 shares of the company's stock valued at $31,000 after acquiring an additional 677 shares during the period. Russell Investments Group Ltd. boosted its position in shares of Cinemark by 402.4% in the 4th quarter. Russell Investments Group Ltd. now owns 1,030 shares of the company's stock worth $32,000 after purchasing an additional 825 shares in the last quarter. Aster Capital Management DIFC Ltd boosted its position in shares of Cinemark by 380.0% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,896 shares of the company's stock worth $59,000 after purchasing an additional 1,501 shares in the last quarter. Quarry LP boosted its position in shares of Cinemark by 41.8% in the 4th quarter. Quarry LP now owns 2,114 shares of the company's stock worth $65,000 after purchasing an additional 623 shares in the last quarter. Finally, CWM LLC boosted its position in shares of Cinemark by 20.6% in the 1st quarter. CWM LLC now owns 6,548 shares of the company's stock worth $163,000 after purchasing an additional 1,118 shares in 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.