Cinemark (NYSE:CNK) Receives “Outperform” Rating from Barrington Research

Barrington Research reissued their outperform rating on shares of Cinemark (NYSE:CNK) in a report released on Monday,Benzinga reports. Barrington Research currently has a $36.00 target price on the stock.

CNK has been the topic of a number of other reports. JPMorgan Chase & Co. lifted their price objective on shares of Cinemark from $34.00 to $35.00 and gave the company an “overweight” rating in a research note on Monday. Benchmark lowered their target price on shares of Cinemark from $40.00 to $35.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th. Morgan Stanley reduced their price target on shares of Cinemark from $40.00 to $35.00 and set an “overweight” rating for the company in a research note on Thursday, February 20th. Wells Fargo & Company decreased their price objective on shares of Cinemark from $38.00 to $36.00 and set an “overweight” rating for the company in a report on Wednesday, January 29th. Finally, Wedbush reissued a “neutral” rating and set a $32.00 target price on shares of Cinemark in a report on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Cinemark has an average rating of “Moderate Buy” and an average price target of $32.80.

Cinemark Price Performance

NYSE CNK opened at $29.79 on Monday. The company has a 50-day moving average price of $26.47 and a two-hundred day moving average price of $29.34. The stock has a market cap of $3.51 billion, a price-to-earnings ratio of 14.68 and a beta of 2.07. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 3.28. Cinemark has a 52 week low of $16.32 and a 52 week high of $36.28.

Cinemark (NYSE:CNK) last issued its quarterly earnings data on Friday, May 2nd. The company reported ($0.32) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.32). The business had revenue of $540.70 million during the quarter, compared to analyst estimates of $604.62 million. Cinemark had a return on equity of 65.83% and a net margin of 10.16%. The business’s revenue for the quarter was down 6.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.19 EPS. Analysts forecast that Cinemark will post 1.93 EPS for the current year.

Cinemark Announces Dividend

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

Insiders Place Their Bets

In other Cinemark news, insider Wanda Marie Gierhart sold 9,119 shares of the firm’s 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 directly owns 147,414 shares in the company, valued at $3,980,178. This trade represents a 5.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 2.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Cinemark

Several hedge funds have recently made changes to their positions in CNK. Elequin Capital LP grew its position in Cinemark by 211.6% during 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. Russell Investments Group Ltd. boosted 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 worth $32,000 after buying an additional 825 shares during the period. Aster Capital Management DIFC Ltd boosted its position in shares of Cinemark by 380.0% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,896 shares of the company’s stock worth $59,000 after buying an additional 1,501 shares during the period. R Squared Ltd purchased a new position in shares of Cinemark during the fourth quarter valued at $63,000. Finally, Quarry LP raised its position 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 buying an additional 623 shares during the period.

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.