Cinemark (NYSE:CNK) Given Outperform Rating at Macquarie

Macquarie reiterated their outperform rating on shares of Cinemark (NYSE:CNK) in a research note published on Thursday,Benzinga reports. Macquarie currently has a $35.00 price target on the stock.

A number of other analysts also recently issued reports on CNK. Morgan Stanley cut their price objective on Cinemark from $40.00 to $35.00 and set an “overweight” rating for the company in a research report on Thursday. StockNews.com upgraded shares of Cinemark from a “sell” rating to a “hold” rating in a research report on Sunday, November 10th. JPMorgan Chase & Co. decreased their price objective on shares of Cinemark from $31.00 to $30.00 and set a “neutral” rating on the stock in a report on Thursday. Wells Fargo & Company dropped their target price on shares of Cinemark from $38.00 to $36.00 and set an “overweight” rating for the company in a report on Wednesday, January 29th. Finally, Wedbush restated a “neutral” rating and set a $32.00 price target on shares of Cinemark in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.70.

Cinemark Price Performance

Cinemark stock opened at $27.72 on Thursday. Cinemark has a 52-week low of $15.74 and a 52-week high of $36.28. The firm has a market capitalization of $3.39 billion, a price-to-earnings ratio of 17.88 and a beta of 2.38. The company has a quick ratio of 0.96, a current ratio of 0.98 and a debt-to-equity ratio of 3.46. The company has a fifty day simple moving average of $30.33 and a 200-day simple moving average of $29.75.

Cinemark (NYSE:CNK) last issued its earnings results on Wednesday, February 19th. The company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.06). Cinemark had a return on equity of 60.21% and a net margin of 8.36%. The company had revenue of $814.30 million during the quarter, compared to analyst estimates of $797.18 million. During the same period last year, the business earned ($0.15) earnings per share. The firm’s revenue was up 27.5% compared to the same quarter last year. On average, equities analysts anticipate that Cinemark will post 2.08 EPS for the current fiscal year.

Cinemark Announces Dividend

The company also recently announced a — dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Wednesday, March 5th.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership increased its position in shares of Cinemark by 100.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,104,552 shares of the company’s stock valued at $127,159,000 after purchasing an additional 2,054,579 shares during the last quarter. Candlestick Capital Management LP lifted its position in shares of Cinemark by 48.1% during the 4th quarter. Candlestick Capital Management LP now owns 4,931,618 shares of the company’s stock worth $152,782,000 after purchasing an additional 1,601,537 shares during the last quarter. Maverick Capital Ltd. grew its stake in shares of Cinemark by 1,356.4% during the third quarter. Maverick Capital Ltd. now owns 1,517,771 shares of the company’s stock worth $42,255,000 after purchasing an additional 1,413,557 shares in the last quarter. Simcoe Capital Management LLC purchased a new position in Cinemark in the fourth quarter valued at $37,763,000. Finally, Man Group plc acquired a new stake in Cinemark in the fourth quarter valued at $28,040,000.

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.