Cinemark (NYSE:CNK) Price Target Lowered to $29.00 at B. Riley

Cinemark (NYSE:CNK) had its price objective trimmed by B. Riley from $35.00 to $29.00 in a research note published on Thursday morning, Marketbeat reports. The firm currently has a neutral rating on the stock.

CNK has been the subject of a number of other reports. Weiss Ratings restated a “hold (c)” rating on shares of Cinemark in a report on Monday, December 29th. Roth Mkm reissued a “buy” rating and issued a $35.00 target price on shares of Cinemark in a report on Wednesday, November 5th. Wells Fargo & Company decreased their price target on Cinemark from $33.00 to $32.00 and set an “overweight” rating for the company in a research note on Wednesday, January 14th. Benchmark reaffirmed a “buy” rating on shares of Cinemark in a research report on Thursday, January 15th. Finally, Zacks Research upgraded Cinemark from a “strong sell” rating to a “hold” rating in a report on Friday, October 3rd. Ten investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $33.17.

Cinemark Stock Down 0.3%

CNK stock opened at $24.10 on Thursday. Cinemark has a fifty-two week low of $21.60 and a fifty-two week high of $34.01. The company has a market capitalization of $2.83 billion, a price-to-earnings ratio of 23.17, a price-to-earnings-growth ratio of 2.39 and a beta of 1.10. The business’s 50 day moving average price is $24.69 and its two-hundred day moving average price is $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 (NYSE:CNK) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.40 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.04). Cinemark had a return on equity of 34.33% and a net margin of 4.93%.The business had revenue of $857.50 million for the quarter, compared to the consensus estimate of $851.47 million. During the same period in the previous year, the firm earned $1.19 EPS. The company’s revenue was down 7.0% on a year-over-year basis. As a group, analysts forecast that Cinemark will post 1.93 earnings per share for the current fiscal year.

Cinemark Increases Dividend

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

Insider Activity

In other Cinemark news, EVP Melissa Thomas sold 22,082 shares of Cinemark stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $24.81, for a total value of $547,854.42. Following the sale, the executive vice president directly owned 167,360 shares in the company, valued at approximately $4,152,201.60. The trade was a 11.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 2.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Cinemark

Large investors have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC raised its position in Cinemark by 118.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 935 shares of the company’s stock worth $28,000 after purchasing an additional 507 shares during the period. Elevation Point Wealth Partners LLC bought a new position in shares of Cinemark during the second quarter valued at approximately $47,000. Financial Consulate Inc. purchased a new stake in shares of Cinemark in the third quarter worth approximately $50,000. Meeder Asset Management Inc. purchased a new stake in shares of Cinemark in the third quarter worth approximately $63,000. Finally, Smartleaf Asset Management LLC lifted its stake in shares of Cinemark by 20.1% during the 3rd quarter. Smartleaf Asset Management LLC now owns 3,027 shares of the company’s stock worth $83,000 after acquiring an additional 506 shares during the last quarter.

About Cinemark

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.