Cinemark (NYSE:CNK) Given “Neutral” Rating at Wedbush

Wedbush restated their neutral rating on shares of Cinemark (NYSE:CNK) in a research report report published on Monday morning,Benzinga reports. They currently have a $32.00 price target on the stock.

A number of other brokerages also recently weighed in on CNK. Morgan Stanley lowered their price objective on shares of Cinemark from $40.00 to $35.00 and set an “overweight” rating for the company in a research report on Thursday, February 20th. Wells Fargo & Company lowered 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. Barrington Research reissued an “outperform” rating and issued a $40.00 price target on shares of Cinemark in a report on Wednesday, February 19th. JPMorgan Chase & Co. upgraded Cinemark from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $30.00 to $34.00 in a research note on Friday, April 11th. Finally, Macquarie reaffirmed an “outperform” rating and issued a $35.00 target price on shares of Cinemark in a research report on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $33.10.

Cinemark Stock Up 1.5 %

NYSE:CNK opened at $29.98 on Monday. The stock has a 50-day simple moving average of $26.18 and a 200 day simple moving average of $29.30. Cinemark has a one year low of $16.32 and a one year high of $36.28. The company has a market capitalization of $3.54 billion, a price-to-earnings ratio of 14.77 and a beta of 2.07. 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 (NYSE:CNK) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $797.18 million. During the same period in the prior year, the company posted ($0.15) earnings per share. The business’s revenue was up 27.5% on a year-over-year basis. Sell-side analysts predict that Cinemark will post 1.93 EPS for the current fiscal year.

Cinemark Dividend Announcement

The business also recently disclosed a — dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were paid a dividend of $0.08 per share. The ex-dividend date was Wednesday, March 5th. Cinemark’s dividend payout ratio is currently 15.76%.

Insider Activity at Cinemark

In other Cinemark news, insider Wanda Marie Gierhart sold 9,119 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $27.00, for a total value of $246,213.00. Following the completion of the sale, the insider now directly owns 147,414 shares in the company, valued at $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 SEC, which is available at this hyperlink. 2.30% of the stock is currently owned by insiders.

Institutional Trading of Cinemark

A number of hedge funds and other institutional investors have recently modified their holdings of CNK. Elequin Capital LP grew its holdings 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 acquiring an additional 677 shares during the period. Russell Investments Group Ltd. boosted its position in shares of Cinemark by 402.4% during the 4th 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 in the last quarter. Aster Capital Management DIFC Ltd grew its stake 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 during the last quarter. R Squared Ltd bought a new stake in shares of Cinemark in the 4th quarter worth approximately $63,000. Finally, Quarry LP lifted its stake in Cinemark by 41.8% during 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 last quarter.

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.