Cinemark (NYSE:CNK) Coverage Initiated by Analysts at B. Riley

B. Riley started coverage on shares of Cinemark (NYSE:CNK) in a research report released on Friday. The brokerage issued a neutral rating and a $35.00 price target on the stock.

Several other brokerages also recently issued reports on CNK. Barrington Research reissued an “outperform” rating and set a $36.00 price target on shares of Cinemark in a report on Monday, May 5th. JPMorgan Chase & Co. lifted their price target on shares of Cinemark from $34.00 to $35.00 and gave the company an “overweight” rating in a report on Monday, May 5th. Macquarie reissued an “outperform” rating and set a $35.00 price target on shares of Cinemark in a report on Thursday, February 20th. Wells Fargo & Company cut their price target 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 reissued a “neutral” rating and set a $32.00 price target on shares of Cinemark in a report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Cinemark has an average rating of “Moderate Buy” and an average target price of $33.20.

Cinemark Price Performance

NYSE:CNK opened at $31.82 on Friday. The company has a 50-day moving average of $27.51 and a 200-day moving average of $29.46. The company has a market capitalization of $3.66 billion, a price-to-earnings ratio of 15.67 and a beta of 1.91. Cinemark has a 52 week low of $16.32 and a 52 week high of $36.28. The company has a debt-to-equity ratio of 3.28, a quick ratio of 0.96 and a current ratio of 1.01.

Cinemark (NYSE:CNK) last released 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 during the quarter, compared to the consensus estimate of $604.62 million. Cinemark had a net margin of 10.16% and a return on equity of 65.83%. The firm’s revenue for the quarter was down 6.6% compared to the same quarter last year. During the same period last year, the firm earned $0.19 EPS. As a group, equities research analysts anticipate that Cinemark will post 1.93 earnings per share for the current fiscal year.

Cinemark Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 29th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date is Thursday, May 29th. Cinemark’s dividend payout ratio is presently 21.05%.

Insider Transactions at Cinemark

In other news, EVP Melissa Thomas sold 7,200 shares of Cinemark stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $31.43, for a total transaction of $226,296.00. Following the completion of the sale, the executive vice president now owns 210,968 shares in the company, valued at $6,630,724.24. The trade was a 3.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Wanda Marie Gierhart sold 9,119 shares of Cinemark stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $27.00, for a total transaction of $246,213.00. Following the sale, the insider now owns 147,414 shares of the company’s stock, valued at approximately $3,980,178. This represents a 5.83% decrease in their position. The disclosure for this sale can be found here. 2.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cinemark

Several institutional investors have recently modified their holdings of the business. Woodline Partners LP acquired a new stake in shares of Cinemark during the 1st quarter worth approximately $570,000. Rivermont Capital Management LP acquired a new position in Cinemark during the first quarter valued at approximately $11,000,000. Aristeia Capital L.L.C. grew its holdings in Cinemark by 47.2% during the first quarter. Aristeia Capital L.L.C. now owns 13,801 shares of the company’s stock valued at $344,000 after purchasing an additional 4,428 shares during the period. 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 valued at $1,635,000 after purchasing an additional 2,872 shares during the period. Finally, Cinctive Capital Management LP grew its holdings in Cinemark by 20.2% during the first quarter. Cinctive Capital Management LP now owns 224,980 shares of the company’s stock valued at $5,600,000 after purchasing an additional 37,884 shares during the period.

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.