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

by · The Markets Daily

Cinemark Holdings Inc (NYSE:CNK – Get Free Report) has been assigned an average recommendation of “Moderate Buy” from the fifteen brokerages that are covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, three have given a hold recommendation and ten have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $32.0769.

A number of research firms have weighed in on CNK. Barrington Research restated an “outperform” rating and set a $32.00 price objective on shares of Cinemark in a research report on Thursday, February 19th. B. Riley Financial reissued a “neutral” rating on shares of Cinemark in a report on Thursday, February 19th. UBS Group upgraded Cinemark to a “buy” rating in a research report on Tuesday, January 20th. The Goldman Sachs Group reiterated a “sell” rating and issued a $22.00 target price on shares of Cinemark in a report on Thursday, February 19th. Finally, Macquarie Infrastructure reduced their price target on shares of Cinemark from $36.00 to $34.00 and set an “outperform” rating on the stock in a research report on Thursday, January 15th.

View Our Latest Stock Analysis on Cinemark

Cinemark Stock Up 0.6%

Shares of CNK stock opened at $28.73 on Friday. The stock has a 50 day moving average of $24.56 and a 200 day moving average of $25.98. Cinemark has a twelve month low of $21.60 and a twelve month high of $34.01. The stock has a market cap of $3.32 billion, a P/E ratio of 33.02 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 – Get Free Report) last released its quarterly earnings results on Wednesday, February 18th. The company reported $0.16 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $778.41 million. During the same quarter in the prior year, the business posted $0.33 EPS. The firm’s quarterly revenue was down 4.7% compared to the same quarter last year. As a group, sell-side analysts expect that Cinemark will post 1.93 EPS for the current year.

Cinemark Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 17th. Investors of record on Tuesday, March 3rd will be issued a $0.09 dividend. The ex-dividend date of this dividend is Tuesday, March 3rd. This represents a $0.36 annualized dividend and a yield of 1.3%. Cinemark’s dividend payout ratio (DPR) is 41.38%.

Insider Buying and Selling

In other Cinemark news, EVP Melissa Thomas sold 22,082 shares of the firm’s stock in a transaction on Wednesday, December 10th. The stock was 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 $4,152,201.60. This trade represents a 11.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Cinemark

Several hedge funds and other institutional investors have recently bought and sold shares of CNK. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Cinemark by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,699 shares of the company’s stock worth $1,635,000 after acquiring an additional 2,872 shares during the period. Woodline Partners LP purchased a new position in Cinemark in the first quarter valued at about $570,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Cinemark by 8.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 345,258 shares of the company’s stock valued at $8,593,000 after acquiring an additional 25,490 shares during the period. Acadian Asset Management LLC acquired a new stake in Cinemark in the first quarter valued at $372,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Cinemark during the 2nd quarter worth approximately $1,316,000.

About Cinemark

(Get Free Report)

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.

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