Cinemark (NYSE:CNK) Price Target Cut to $31.00 by Analysts at JPMorgan Chase & Co.

Cinemark (NYSE:CNK) had its target price cut by JPMorgan Chase & Co. from $37.00 to $31.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other research firms have also recently commented on CNK. Moffett Nathanson raised Cinemark from a “neutral” rating to a “buy” rating and set a $30.00 target price for the company in a research note on Tuesday. Wells Fargo & Company dropped their price target on Cinemark from $33.00 to $32.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 14th. Macquarie dropped their price target on Cinemark from $36.00 to $34.00 and set an “outperform” rating on the stock in a research note on Thursday, January 15th. Roth Mkm reaffirmed a “buy” rating and issued a $35.00 target price on shares of Cinemark in a research report on Wednesday, November 5th. Finally, B. Riley cut their price objective on Cinemark from $35.00 to $29.00 and set a “neutral” rating for the company in a report on Thursday. Ten equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Cinemark has a consensus rating of “Moderate Buy” and an average price target of $33.17.

Cinemark Stock Performance

CNK opened at $24.10 on Thursday. The stock has a 50-day moving average of $24.69 and a 200-day moving average of $26.47. The company has a debt-to-equity ratio of 5.01, a quick ratio of 0.72 and a current ratio of 0.76. Cinemark has a 52-week low of $21.60 and a 52-week high of $34.01. The company has a market cap of $2.83 billion, a PE ratio of 23.17, a price-to-earnings-growth ratio of 2.39 and a beta of 1.10.

Cinemark (NYSE:CNK) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.04). The company had revenue of $857.50 million during the quarter, compared to analyst estimates of $851.47 million. Cinemark had a return on equity of 34.33% and a net margin of 4.93%.The business’s revenue for the quarter was down 7.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.19 earnings per share. As a group, equities research analysts forecast that Cinemark will post 1.93 earnings per share for the current fiscal year.

Cinemark Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 12th. Investors of record on Friday, November 28th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Friday, November 28th. This is a boost from Cinemark’s previous quarterly dividend of $0.08. Cinemark’s dividend payout ratio is presently 34.62%.

Insider Transactions at Cinemark

In other news, EVP Melissa Thomas sold 22,082 shares of the business’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $24.81, for a total transaction of $547,854.42. Following the completion of the sale, the executive vice president directly owned 167,360 shares of the company’s stock, valued at $4,152,201.60. The trade was a 11.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 2.10% of the company’s stock.

Institutional Trading of Cinemark

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Marshall Wace LLP raised its holdings in shares of Cinemark by 758.9% in the 2nd quarter. Marshall Wace LLP now owns 4,497,305 shares of the company’s stock valued at $135,729,000 after acquiring an additional 3,973,689 shares in the last quarter. Woodline Partners LP purchased a new position in shares of Cinemark in the third quarter worth about $33,390,000. Squarepoint Ops LLC boosted its stake in shares of Cinemark by 119.9% during the second quarter. Squarepoint Ops LLC now owns 2,180,513 shares of the company’s stock valued at $65,808,000 after purchasing an additional 1,188,709 shares during the period. Man Group plc purchased a new position in shares of Cinemark in the second quarter valued at about $33,953,000. Finally, SG Americas Securities LLC lifted its holdings in Cinemark by 102.4% in the 3rd quarter. SG Americas Securities LLC now owns 24,281 shares of the company’s stock worth $680,000 after buying an additional 1,023,333 shares during the period.

Cinemark Company Profile

Cinemark Holdings, Inc (NYSE: CNK) is a leading theatrical exhibitor that acquires, develops and operates motion picture theatres under the Cinemark® brand in the United States and Latin America. The company’s core business involves the presentation of first-run feature films coupled with an array of in‐theatre services, including concessions, premium auditoriums and loyalty programs. Cinemark’s exhibition portfolio encompasses both corporate‐owned and franchised complexes, offering moviegoers a range of experiences from standard screens to large‐format halls.

The company’s product offerings extend beyond ticket sales to include an assortment of concession items, such as popcorn, fountain beverages, candy and specialty snacks, as well as bar and lounge concepts in select locations.