Cinemark (NYSE:CNK) Given New $35.00 Price Target at JPMorgan Chase & Co.

Cinemark (NYSE:CNK) had its price objective lifted by JPMorgan Chase & Co. from $34.00 to $35.00 in a report released on Monday morning,Benzinga reports. They currently have an overweight rating on the stock.

Other equities research analysts also recently issued reports about the company. Wells Fargo & Company decreased their price objective on Cinemark from $38.00 to $36.00 and set an “overweight” rating for the company in a report on Wednesday, January 29th. Wedbush reiterated a “neutral” rating and set a $32.00 price target on shares of Cinemark in a research note on Monday, April 28th. Morgan Stanley lowered their price objective on shares of Cinemark from $40.00 to $35.00 and set an “overweight” rating on the stock in a research report on Thursday, February 20th. Barrington Research reaffirmed an “outperform” rating and issued a $40.00 target price on shares of Cinemark in a report on Wednesday, February 19th. Finally, Macquarie reissued an “outperform” rating and set a $35.00 price target on shares of Cinemark in a report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $32.80.

Cinemark Price Performance

Shares of NYSE:CNK opened at $29.79 on Monday. Cinemark has a 12 month low of $16.32 and a 12 month high of $36.28. The firm has a market capitalization of $3.51 billion, a P/E ratio of 14.68 and a beta of 2.07. 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’s fifty day moving average price is $26.47 and its 200 day moving average price is $29.34.

Cinemark (NYSE:CNK) last posted its 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 for the quarter, compared to analysts’ expectations of $604.62 million. Cinemark had a return on equity of 65.83% and a net margin of 10.16%. The business’s revenue was down 6.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.19 earnings per share. As a group, sell-side analysts predict that Cinemark will post 1.93 earnings per share for the current fiscal year.

Cinemark Dividend Announcement

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

Insider Transactions at Cinemark

In other news, insider Wanda Marie Gierhart sold 9,119 shares of the stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $27.00, for a total value of $246,213.00. Following the completion of the transaction, the insider now owns 147,414 shares in the company, valued at $3,980,178. This trade represents a 5.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CNK. Elequin Capital LP boosted its stake in shares of Cinemark by 211.6% during the 4th quarter. Elequin Capital LP now owns 997 shares of the company’s stock worth $31,000 after acquiring an additional 677 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in Cinemark by 402.4% during the fourth quarter. Russell Investments Group Ltd. now owns 1,030 shares of the company’s stock worth $32,000 after purchasing an additional 825 shares during the last quarter. Aster Capital Management DIFC Ltd boosted its position in 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. R Squared Ltd acquired a new stake in Cinemark in the fourth quarter valued at $63,000. Finally, Quarry LP increased its position 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 buying an additional 623 shares in 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.