Cinemark Holdings Inc (NYSE:CNK) Receives $34.91 Average Target Price from Analysts

Cinemark Holdings Inc (NYSE:CNK) has earned a consensus rating of “Moderate Buy” from the twelve ratings firms that are currently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $34.9091.

CNK has been the subject of several recent analyst reports. Wells Fargo & Company reissued an “overweight” rating and set a $33.00 price objective (down from $36.00) on shares of Cinemark in a report on Monday, August 4th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Cinemark in a research report on Thursday, July 10th. They issued a “buy” rating and a $36.00 price target on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of Cinemark in a research report on Saturday, September 27th. Roth Capital reduced their price target on shares of Cinemark from $36.00 to $34.00 and set a “buy” rating on the stock in a research report on Monday, August 4th. Finally, Benchmark restated a “buy” rating and issued a $35.00 price target on shares of Cinemark in a research report on Wednesday, July 2nd.

Cinemark Price Performance

Shares of CNK stock opened at $26.96 on Tuesday. The firm has a market cap of $3.10 billion, a P/E ratio of 14.73, a P/E/G ratio of 2.01 and a beta of 1.75. The company has a debt-to-equity ratio of 4.32, a current ratio of 0.91 and a quick ratio of 0.88. Cinemark has a 1-year low of $23.12 and a 1-year high of $36.28. The firm has a fifty day moving average of $26.78 and a two-hundred day moving average of $28.73.

Cinemark (NYSE:CNK) last announced its quarterly earnings data on Friday, August 1st. The company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.15). The company had revenue of $940.50 million for the quarter, compared to analyst estimates of $942.14 million. Cinemark had a return on equity of 59.16% and a net margin of 9.13%.Cinemark’s revenue was up 28.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.32 earnings per share. As a group, research analysts anticipate that Cinemark will post 1.93 earnings per share for the current fiscal year.

Cinemark Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 27th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Wednesday, August 27th. Cinemark’s dividend payout ratio (DPR) is presently 17.49%.

Insider Activity

In other news, EVP Melissa Thomas sold 7,200 shares of the firm’s stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $25.17, for a total value of $181,224.00. Following the transaction, the executive vice president directly owned 203,768 shares in the company, valued at approximately $5,128,840.56. This trade represents a 3.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 2.30% of the company’s stock.

Institutional Trading of Cinemark

Hedge funds have recently bought and sold shares of the company. Principal Financial Group Inc. lifted its position in Cinemark by 2.8% in the 1st quarter. Principal Financial Group Inc. now owns 681,435 shares of the company’s stock valued at $16,961,000 after purchasing an additional 18,645 shares during the last quarter. Intech Investment Management LLC lifted its position in Cinemark by 52.0% in the 1st quarter. Intech Investment Management LLC now owns 94,133 shares of the company’s stock valued at $2,343,000 after purchasing an additional 32,190 shares during the last quarter. Inspire Investing LLC lifted its position in Cinemark by 605.1% in the 1st quarter. Inspire Investing LLC now owns 102,936 shares of the company’s stock valued at $2,562,000 after purchasing an additional 88,338 shares during the last quarter. GHP Investment Advisors Inc. lifted its position in Cinemark by 104.8% in the 1st quarter. GHP Investment Advisors Inc. now owns 28,365 shares of the company’s stock valued at $706,000 after purchasing an additional 14,518 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in Cinemark by 1,677.9% in the 1st quarter. GAMMA Investing LLC now owns 52,020 shares of the company’s stock valued at $1,295,000 after purchasing an additional 49,094 shares during the last quarter.

Cinemark Company Profile

Cinemark Holdings, Inc, together with its subsidiaries, engages in the motion picture exhibition business. As of February 16, 2024, it operated 501 theatres with 5,719 screens in 42 states and 13 countries in South and Central America. Cinemark Holdings, Inc was founded in 1984 and is headquartered in Plano, Texas.