Brokerages Set Cinemark Holdings, Inc. (NYSE:CNK) Target Price at $32.70

Cinemark Holdings, Inc. (NYSE:CNK) has received a consensus rating of “Moderate Buy” from the eleven ratings firms that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $32.70.

Several equities research analysts have weighed in on the stock. Macquarie restated an “outperform” rating and issued a $35.00 target price on shares of Cinemark in a research note on Thursday, February 20th. Wedbush reissued a “neutral” rating and issued a $32.00 price objective on shares of Cinemark in a research report on Tuesday, February 18th. Morgan Stanley reduced their target price on Cinemark from $40.00 to $35.00 and set an “overweight” rating on the stock in a research report on Thursday, February 20th. Wells Fargo & Company lowered their price target on Cinemark from $38.00 to $36.00 and set an “overweight” rating for the company in a report on Wednesday, January 29th. Finally, Benchmark cut their price objective on shares of Cinemark from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Thursday, February 20th.

Insiders Place Their Bets

In other Cinemark news, insider Wanda Marie Gierhart sold 9,119 shares of the company’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $27.00, for a total value of $246,213.00. Following the sale, the insider now directly owns 147,414 shares of the company’s stock, valued at approximately $3,980,178. This represents a 5.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Cinemark

Several institutional investors and hedge funds have recently modified their holdings of CNK. Mackenzie Financial Corp acquired a new stake in Cinemark during the fourth quarter worth about $221,000. Elequin Capital LP boosted its position in Cinemark by 211.6% in the 4th quarter. Elequin Capital LP now owns 997 shares of the company’s stock worth $31,000 after purchasing an additional 677 shares in the last quarter. PharVision Advisers LLC acquired a new stake in shares of Cinemark during the 4th quarter worth approximately $277,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Cinemark by 24.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 319,768 shares of the company’s stock valued at $9,906,000 after purchasing an additional 61,911 shares in the last quarter. Finally, Voloridge Investment Management LLC acquired a new position in shares of Cinemark in the 4th quarter valued at $8,317,000.

Cinemark Price Performance

Shares of CNK stock opened at $24.98 on Friday. The stock’s 50-day moving average is $28.15 and its 200 day moving average is $29.54. Cinemark has a 1-year low of $16.32 and a 1-year high of $36.28. The company has a debt-to-equity ratio of 3.28, a current ratio of 1.01 and a quick ratio of 0.96. The company has a market cap of $3.06 billion, a P/E ratio of 12.31 and a beta of 2.41.

Cinemark (NYSE:CNK) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.06). Cinemark had a net margin of 10.16% and a return on equity of 65.83%. The firm had revenue of $814.30 million during the quarter, compared to the consensus estimate of $797.18 million. During the same quarter in the prior year, the business posted ($0.15) earnings per share. The firm’s quarterly revenue was up 27.5% on a year-over-year basis. Research analysts predict that Cinemark will post 1.93 earnings per share for the current fiscal year.

Cinemark Dividend Announcement

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

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.