Cinemark (NYSE:CNK) Price Target Raised to $36.00

Cinemark (NYSE:CNK) had its target price raised by Wells Fargo & Company from $32.00 to $36.00 in a research note released on Thursday, Marketbeat reports. Wells Fargo & Company currently has an overweight rating on the stock.

A number of other research analysts have also recently issued reports on the stock. Morgan Stanley reiterated an “equal weight” rating and issued a $28.00 target price (down from $35.00) on shares of Cinemark in a research note on Thursday, December 18th. Zacks Research upgraded shares of Cinemark from a “strong sell” rating to a “hold” rating in a research note on Monday, March 2nd. UBS Group upgraded shares of Cinemark to a “buy” rating in a research note on Tuesday, January 20th. Weiss Ratings reiterated a “hold (c)” rating on shares of Cinemark in a research note on Friday, March 27th. Finally, Benchmark reiterated a “buy” rating on shares of Cinemark in a research note on Thursday, February 19th. Ten research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $32.69.

Cinemark Stock Performance

NYSE CNK opened at $30.37 on Thursday. Cinemark has a 1-year low of $21.60 and a 1-year high of $34.01. The company has a 50 day moving average of $27.09 and a 200-day moving average of $26.20. The company has a current ratio of 0.71, a quick ratio of 0.67 and a debt-to-equity ratio of 4.74. The firm has a market cap of $3.55 billion, a price-to-earnings ratio of 34.91 and a beta of 1.09.

Cinemark (NYSE:CNK) last posted its earnings results on Wednesday, February 18th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.08). Cinemark had a net margin of 4.44% and a return on equity of 34.11%. The firm had revenue of $776.30 million during the quarter, compared to the consensus estimate of $778.41 million. During the same quarter last year, the firm posted $0.33 EPS. The business’s revenue was down 4.7% on a year-over-year basis. On average, equities analysts forecast that Cinemark will post 1.93 earnings per share for the current fiscal year.

Cinemark Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 17th. Shareholders of record on Tuesday, March 3rd were paid a $0.09 dividend. The ex-dividend date of this dividend was Tuesday, March 3rd. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.2%. Cinemark’s payout ratio is currently 41.38%.

Insider Buying and Selling at Cinemark

In other Cinemark news, EVP Melissa Thomas sold 7,944 shares of the business’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $26.05, for a total value of $206,941.20. Following the completion of the transaction, the executive vice president directly owned 159,416 shares of the company’s stock, valued at approximately $4,152,786.80. The trade was a 4.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Cinemark

Institutional investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC raised its stake in shares of Cinemark by 118.5% in the second quarter. EverSource Wealth Advisors LLC now owns 935 shares of the company’s stock worth $28,000 after acquiring an additional 507 shares during the last quarter. Financial Consulate Inc. bought a new position in shares of Cinemark in the third quarter worth about $50,000. Meeder Asset Management Inc. bought a new position in shares of Cinemark in the third quarter worth about $63,000. Smartleaf Asset Management LLC raised its stake in shares of Cinemark by 20.1% in the third 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. Finally, Leonteq Securities AG bought a new stake in shares of Cinemark during the fourth quarter worth approximately $83,000.

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.