Cinemark (NYSE:CNK) Price Target Cut to $32.00 by Analysts at Barrington Research

Cinemark (NYSE:CNK) had its target price lowered by Barrington Research from $36.00 to $32.00 in a research report report published on Monday morning,Benzinga reports. Barrington Research currently has an outperform rating on the stock.

A number of other analysts have also recently issued reports on CNK. Morgan Stanley reissued an “equal weight” rating and set a $28.00 price objective (down previously from $35.00) on shares of Cinemark in a report on Thursday, December 18th. Macquarie lowered their price target on shares of Cinemark from $36.00 to $34.00 and set an “outperform” rating on the stock in a report on Thursday, January 15th. Roth Mkm restated a “buy” rating and issued a $35.00 price objective on shares of Cinemark in a research report on Wednesday, November 5th. UBS Group raised shares of Cinemark to a “buy” rating in a report on Tuesday, January 20th. Finally, Moffett Nathanson upgraded shares of Cinemark from a “neutral” rating to a “buy” rating and set a $30.00 target price on the stock in a research note on Tuesday, January 20th. Ten equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $32.83.

Cinemark Stock Performance

Shares of CNK stock opened at $23.64 on Monday. The firm’s 50 day moving average is $24.46 and its 200 day moving average is $26.34. The stock has a market capitalization of $2.78 billion, a P/E ratio of 22.73, a PEG ratio of 2.41 and a beta of 1.10. Cinemark has a 12 month low of $21.60 and a 12 month high of $34.01. The company has a current ratio of 0.76, a quick ratio of 0.72 and a debt-to-equity ratio of 5.01.

Cinemark (NYSE:CNK) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.04). The business had revenue of $857.50 million during the quarter, compared to analysts’ expectations of $851.47 million. Cinemark had a net margin of 4.93% and a return on equity of 34.33%. The firm’s quarterly revenue was down 7.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.19 earnings per share. On average, sell-side analysts anticipate that Cinemark will post 1.93 earnings per share for the current year.

Cinemark Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 12th. Stockholders of record on Friday, November 28th were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Friday, November 28th. This is a positive change from Cinemark’s previous quarterly dividend of $0.08. Cinemark’s payout ratio is currently 34.62%.

Insider Buying and Selling at Cinemark

In other 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 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 approximately $4,152,201.60. The trade was a 11.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On Cinemark

Large investors have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue lifted its stake in Cinemark by 2.0% during the fourth quarter. State of Alaska Department of Revenue now owns 52,567 shares of the company’s stock worth $1,221,000 after purchasing an additional 1,050 shares during the last quarter. Tectonic Advisors LLC raised its holdings in shares of Cinemark by 8.6% during the 4th quarter. Tectonic Advisors LLC now owns 33,612 shares of the company’s stock valued at $781,000 after buying an additional 2,659 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in Cinemark by 11.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 8,680 shares of the company’s stock worth $204,000 after buying an additional 859 shares during the last quarter. GAMMA Investing LLC boosted its stake in Cinemark by 51.8% in the fourth quarter. GAMMA Investing LLC now owns 4,022 shares of the company’s stock worth $93,000 after buying an additional 1,372 shares in the last quarter. Finally, Hudson Bay Capital Management LP grew its position in Cinemark by 251.2% during the third quarter. Hudson Bay Capital Management LP now owns 398,762 shares of the company’s stock valued at $11,173,000 after acquiring an additional 285,225 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.