Cinemark (NYSE:CNK) Upgraded at B. Riley

B. Riley upgraded shares of Cinemark (NYSE:CNK) to a hold rating in a research report report published on Thursday morning,Zacks.com reports.

Several other equities analysts have also issued reports on the company. Barrington Research reiterated an “outperform” rating and issued a $36.00 target price on shares of Cinemark in a research note on Monday, May 5th. JPMorgan Chase & Co. lifted their target price on Cinemark from $34.00 to $35.00 and gave the company an “overweight” rating in a research note on Monday, May 5th. Macquarie reiterated an “outperform” rating and issued a $35.00 target price on shares of Cinemark in a research note on Thursday, February 20th. Morgan Stanley cut their target price on Cinemark from $40.00 to $35.00 and set an “overweight” rating on the stock in a research note on Thursday, February 20th. Finally, 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. One analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $33.20.

Cinemark Stock Down 0.2%

NYSE:CNK opened at $31.82 on Thursday. The company has a market cap of $3.66 billion, a price-to-earnings ratio of 15.67 and a beta of 1.91. 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 twelve month low of $16.32 and a twelve month high of $36.28. The stock has a fifty day simple moving average of $27.67 and a 200-day simple moving average of $29.47.

Cinemark (NYSE:CNK) last announced its quarterly earnings results on Friday, May 2nd. The company reported ($0.32) EPS for the quarter, meeting the consensus estimate of ($0.32). The firm had revenue of $540.70 million for 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% on a year-over-year basis. During the same quarter last year, the firm posted $0.19 earnings per share. Analysts anticipate that Cinemark will post 1.93 EPS for the current year.

Cinemark Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 29th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date is Thursday, May 29th. Cinemark’s dividend payout ratio (DPR) is 21.05%.

Insider Buying and Selling

In related news, EVP Melissa Thomas sold 7,200 shares of Cinemark stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $31.43, for a total transaction of $226,296.00. Following the completion of the sale, the executive vice president now owns 210,968 shares of the company’s stock, valued at $6,630,724.24. The trade was a 3.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Wanda Marie Gierhart sold 9,119 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 147,414 shares of the company’s stock, valued at $3,980,178. The trade was a 5.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of CNK. Franklin Resources Inc. lifted its holdings in Cinemark by 6.8% in the third quarter. Franklin Resources Inc. now owns 56,757 shares of the company’s stock valued at $1,651,000 after acquiring an additional 3,632 shares during the period. Ritholtz Wealth Management lifted its holdings in Cinemark by 104.5% in the fourth quarter. Ritholtz Wealth Management now owns 35,953 shares of the company’s stock valued at $1,114,000 after acquiring an additional 18,371 shares during the period. Capricorn Fund Managers Ltd acquired a new position in Cinemark in the fourth quarter valued at approximately $1,053,000. Janney Montgomery Scott LLC acquired a new position in Cinemark in the fourth quarter valued at approximately $257,000. Finally, KBC Group NV lifted its holdings in Cinemark by 470.1% in the fourth quarter. KBC Group NV now owns 16,920 shares of the company’s stock valued at $524,000 after acquiring an additional 13,952 shares during the period.

About Cinemark

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.