Cinemark Holdings Inc (NYSE:CNK) Receives $32.08 Average Price Target from Analysts

Shares of Cinemark Holdings Inc (NYSE:CNK) have received an average rating of “Moderate Buy” from the fifteen research firms that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $32.0769.

CNK has been the subject of a number of recent research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Cinemark in a report on Monday, December 29th. B. Riley Financial reaffirmed a “neutral” rating on shares of Cinemark in a research note on Thursday, February 19th. JPMorgan Chase & Co. lowered their price objective on shares of Cinemark from $37.00 to $31.00 and set an “overweight” rating for the company in a research report on Thursday, January 22nd. Zacks Research raised shares of Cinemark from a “strong sell” rating to a “hold” rating in a research note on Monday, March 2nd. Finally, UBS Group upgraded shares of Cinemark to a “buy” rating in a report on Tuesday, January 20th.

Insider Transactions at Cinemark

In other Cinemark news, EVP Melissa Thomas sold 7,944 shares of the company’s stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $26.05, for a total transaction of $206,941.20. Following the sale, the executive vice president directly owned 159,416 shares in the company, valued at $4,152,786.80. This represents a 4.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 2.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cinemark

Several large investors have recently modified their holdings of the stock. Intech Investment Management LLC increased its position in Cinemark by 129.0% during the third quarter. Intech Investment Management LLC now owns 156,602 shares of the company’s stock valued at $4,388,000 after acquiring an additional 88,203 shares during the last quarter. Jain Global LLC lifted its stake in shares of Cinemark by 37.4% during the 3rd quarter. Jain Global LLC now owns 1,644,623 shares of the company’s stock worth $46,082,000 after acquiring an additional 447,468 shares during the last quarter. Marshall Wace LLP lifted its position in shares of Cinemark by 758.9% during the second quarter. Marshall Wace LLP now owns 4,497,305 shares of the company’s stock worth $135,729,000 after purchasing an additional 3,973,689 shares during the last quarter. Cartenna Capital LP boosted its stake in shares of Cinemark by 29.4% during the third quarter. Cartenna Capital LP now owns 1,650,000 shares of the company’s stock valued at $46,233,000 after purchasing an additional 375,000 shares during the period. Finally, Junto Capital Management LP bought a new position in shares of Cinemark in the third quarter worth about $25,509,000.

Cinemark Price Performance

NYSE:CNK opened at $28.07 on Tuesday. The business’s 50-day moving average is $25.89 and its 200 day moving average is $26.11. Cinemark has a 12 month low of $21.60 and a 12 month high of $34.01. The company has a market capitalization of $3.24 billion, a P/E ratio of 32.26 and a beta of 1.08. The company has a current ratio of 0.71, a quick ratio of 0.67 and a debt-to-equity ratio of 4.74.

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

Cinemark Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 17th. Shareholders of record on Tuesday, March 3rd were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Tuesday, March 3rd. Cinemark’s payout ratio is presently 41.38%.

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.