Cinemark (NYSE:CNK) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Cinemark (NYSE:CNK) had its price objective boosted by JPMorgan Chase & Co. from $34.00 to $35.00 in a report issued on Monday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Several other analysts also recently commented on the stock. Macquarie reissued an “outperform” rating and issued a $35.00 target price on shares of Cinemark in a research report on Thursday, February 20th. Benchmark reduced their price target on shares of Cinemark from $40.00 to $35.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Wedbush reaffirmed a “neutral” rating and issued a $32.00 target price on shares of Cinemark in a research report on Monday, April 28th. Morgan Stanley decreased their target price on shares of Cinemark from $40.00 to $35.00 and set an “overweight” rating on the stock in a research report on Thursday, February 20th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $40.00 price objective on shares of Cinemark in a research note on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Cinemark currently has an average rating of “Moderate Buy” and a consensus price target of $32.80.

Cinemark Trading Up 1.3 %

Shares of NYSE CNK opened at $31.20 on Monday. The stock has a market capitalization of $3.68 billion, a P/E ratio of 15.37 and a beta of 1.91. Cinemark has a 52-week low of $16.32 and a 52-week high of $36.28. The stock’s 50 day moving average price is $26.69 and its two-hundred day moving average price is $29.36. The company has a quick ratio of 0.96, a current ratio of 1.01 and a debt-to-equity ratio of 3.28.

Cinemark (NYSE:CNK) last posted its quarterly earnings data on Friday, May 2nd. The company reported ($0.32) EPS for the quarter, hitting analysts’ consensus estimates of ($0.32). The company had revenue of $540.70 million for the quarter, compared to the consensus estimate of $604.62 million. Cinemark had a return on equity of 65.83% and a net margin of 10.16%. The company’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.19 EPS. On average, analysts anticipate that Cinemark will post 1.93 earnings per share for the current fiscal year.

Cinemark Dividend Announcement

The firm also recently disclosed a — dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were paid a $0.08 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. Cinemark’s dividend payout ratio (DPR) is 21.05%.

Insider Buying and Selling

In other Cinemark news, insider Wanda Marie Gierhart sold 9,119 shares of Cinemark stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $27.00, for a total transaction of $246,213.00. Following the completion of the sale, the insider now directly owns 147,414 shares in the company, valued at $3,980,178. The trade was a 5.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Cinemark

A number of large investors have recently bought and sold shares of CNK. Elequin Capital LP increased its stake in shares of Cinemark by 211.6% during the fourth quarter. Elequin Capital LP now owns 997 shares of the company’s stock valued at $31,000 after buying an additional 677 shares during the period. Russell Investments Group Ltd. boosted its stake in shares of Cinemark by 402.4% during the 4th quarter. Russell Investments Group Ltd. now owns 1,030 shares of the company’s stock valued at $32,000 after purchasing an additional 825 shares in the last quarter. Aster Capital Management DIFC Ltd lifted its holdings in Cinemark by 380.0% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,896 shares of the company’s stock worth $59,000 after buying an additional 1,501 shares during the period. R Squared Ltd purchased a new position in shares of Cinemark in the 4th quarter valued at approximately $63,000. Finally, Quarry LP grew its stake in Cinemark by 41.8% in the fourth quarter. Quarry LP now owns 2,114 shares of the company’s stock worth $65,000 after purchasing an additional 623 shares during the period.

About Cinemark

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.