Brokerages Set Cinemark Holdings Inc (NYSE:CNK) Price Target at $33.31

Cinemark Holdings Inc (NYSE:CNK) has earned an average rating of “Moderate Buy” from the fifteen brokerages that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $34.3077.

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of Cinemark from $35.00 to $36.00 and gave the company an “overweight” rating in a research report on Monday, May 4th. Morgan Stanley lifted their price target on shares of Cinemark from $30.00 to $36.00 and gave the company an “equal weight” rating in a research report on Tuesday. Zacks Research downgraded shares of Cinemark from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 2nd. Roth Mkm reaffirmed a “buy” rating and set a $37.00 price target on shares of Cinemark in a research note on Thursday, April 23rd. Finally, Wells Fargo & Company lifted their price target on Cinemark from $32.00 to $36.00 and gave the stock an “overweight” rating in a research note on Thursday, April 9th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC raised its position in shares of Cinemark by 118.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 935 shares of the company’s stock worth $28,000 after purchasing an additional 507 shares during the last quarter. Smartleaf Asset Management LLC raised its position in shares of Cinemark by 20.1% during the 3rd quarter. Smartleaf Asset Management LLC now owns 3,027 shares of the company’s stock worth $83,000 after purchasing an additional 506 shares during the last quarter. Leonteq Securities AG acquired a new position in shares of Cinemark during the 4th quarter worth approximately $83,000. GAMMA Investing LLC raised its position in shares of Cinemark by 51.8% during the 4th quarter. GAMMA Investing LLC now owns 4,022 shares of the company’s stock worth $93,000 after purchasing an additional 1,372 shares during the last quarter. Finally, Kestra Advisory Services LLC acquired a new position in shares of Cinemark during the 4th quarter worth approximately $102,000.

Cinemark Price Performance

Cinemark stock opened at $34.04 on Friday. Cinemark has a one year low of $21.60 and a one year high of $34.05. The company has a debt-to-equity ratio of 5.03, a quick ratio of 0.58 and a current ratio of 0.62. The business has a fifty day moving average of $28.89 and a two-hundred day moving average of $26.47. The company has a market cap of $3.98 billion, a P/E ratio of 30.13 and a beta of 1.00.

Cinemark (NYSE:CNK) last posted its quarterly earnings results on Friday, May 1st. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). Cinemark had a net margin of 5.31% and a return on equity of 41.31%. The company had revenue of $643.10 million for the quarter, compared to analyst estimates of $632.74 million. During the same quarter in the previous year, the business posted ($0.32) earnings per share. Cinemark’s revenue was up 18.9% on a year-over-year basis. As a group, analysts predict that Cinemark will post 2.15 earnings per share for the current fiscal year.

Cinemark Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Thursday, May 28th were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Thursday, May 28th. Cinemark’s payout ratio is 31.86%.

Cinemark Company Profile

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.