Cinemark’s (CNK) Outperform Rating Reiterated at Macquarie

Macquarie restated their outperform rating on shares of Cinemark (NYSE:CNK) in a report published on Thursday morning,Benzinga reports. Macquarie currently has a $35.00 price objective on the stock.

A number of other equities research analysts also recently commented on CNK. Wells Fargo & Company decreased their target price on Cinemark from $38.00 to $36.00 and set an “overweight” rating for the company in a report on Wednesday, January 29th. Wedbush reaffirmed a “neutral” rating and set a $32.00 target price on shares of Cinemark in a report on Tuesday, February 18th. Barrington Research reiterated an “outperform” rating and set a $40.00 price target on shares of Cinemark in a research report on Wednesday. Morgan Stanley reduced their price target on Cinemark from $40.00 to $35.00 and set an “overweight” rating for the company in a research report on Thursday. Finally, JPMorgan Chase & Co. reduced their price target on Cinemark from $31.00 to $30.00 and set a “neutral” rating for the company in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $32.70.

Cinemark Price Performance

Shares of NYSE CNK opened at $27.47 on Thursday. The company has a debt-to-equity ratio of 3.28, a quick ratio of 0.96 and a current ratio of 1.01. Cinemark has a fifty-two week low of $15.74 and a fifty-two week high of $36.28. The company has a market cap of $3.36 billion, a PE ratio of 13.53 and a beta of 2.38. The business has a 50-day simple moving average of $30.24 and a two-hundred day simple moving average of $29.79.

Cinemark (NYSE:CNK) last released its earnings results on Wednesday, February 19th. The company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.06). Cinemark had a return on equity of 65.83% and a net margin of 10.16%. The firm had revenue of $814.30 million for the quarter, compared to analyst estimates of $797.18 million. During the same period last year, the firm earned ($0.15) EPS. The company’s revenue for the quarter was up 27.5% compared to the same quarter last year. As a group, equities analysts expect that Cinemark will post 1.93 EPS for the current fiscal year.

Cinemark Dividend Announcement

The firm also recently disclosed a — dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be given a $0.08 dividend. The ex-dividend date is Wednesday, March 5th. Cinemark’s dividend payout ratio (DPR) is presently 15.76%.

Institutional Trading of Cinemark

A number of institutional investors and hedge funds have recently made changes to their positions in CNK. Elequin Capital LP increased its position in shares of 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 buying an additional 677 shares in the last quarter. Russell Investments Group Ltd. increased its position 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 buying an additional 825 shares in the last quarter. Quarry LP increased its position in shares of Cinemark by 714.8% in the third quarter. Quarry LP now owns 1,491 shares of the company’s stock valued at $42,000 after buying an additional 1,308 shares in the last quarter. Aster Capital Management DIFC Ltd increased its position in shares of Cinemark by 380.0% during the fourth 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. Finally, R Squared Ltd purchased a new stake in shares of Cinemark during the fourth quarter worth approximately $63,000.

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.