Cinemark Holdings Inc (NYSE:CNK) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Cinemark Holdings Inc (NYSE:CNK) have been given an average recommendation of “Moderate Buy” by the eleven brokerages that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $33.20.

Several brokerages have recently weighed in on CNK. JPMorgan Chase & Co. raised their price objective on Cinemark from $34.00 to $35.00 and gave the company an “overweight” rating in a report on Monday, May 5th. Wedbush reiterated a “neutral” rating and issued a $32.00 target price on shares of Cinemark in a research note on Monday, April 28th. Barrington Research reiterated an “outperform” rating and issued a $36.00 target price on shares of Cinemark in a research note on Monday, May 5th. Finally, B. Riley initiated coverage on shares of Cinemark in a research note on Friday, May 16th. They issued a “neutral” rating and a $35.00 target price for the company.

Cinemark Price Performance

Shares of NYSE CNK opened at $31.82 on Friday. The stock has a market capitalization of $3.66 billion, a price-to-earnings ratio of 20.93, a PEG ratio of 1.91 and a beta of 1.93. The business has a 50-day moving average of $31.07 and a 200-day moving average of $29.43. The company has a debt-to-equity ratio of 5.53, a current ratio of 0.79 and a quick ratio of 0.76. Cinemark has a fifty-two week low of $20.00 and a fifty-two week high of $36.28.

Cinemark (NYSE:CNK) last announced its quarterly earnings data on Friday, May 2nd. The company reported ($0.32) earnings per share for the quarter, meeting the consensus estimate of ($0.32). The company had revenue of $540.70 million during the quarter, compared to analysts’ expectations of $604.62 million. Cinemark had a return on equity of 51.68% and a net margin of 8.17%. Cinemark’s revenue for the quarter was down 6.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.19 EPS. As a group, sell-side analysts predict that Cinemark will post 1.93 earnings per share for the current fiscal year.

Cinemark Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Thursday, May 29th were given a $0.08 dividend. The ex-dividend date was Thursday, May 29th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.01%. Cinemark’s payout ratio is 21.05%.

Insider Activity

In other news, insider Wanda Marie Gierhart sold 52,524 shares of Cinemark stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $31.85, for a total value of $1,672,889.40. Following the completion of the sale, the insider now directly owns 94,890 shares in the company, valued at approximately $3,022,246.50. The trade was a 35.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Valmir Fernandes sold 25,000 shares of Cinemark stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $33.01, for a total transaction of $825,250.00. Following the completion of the transaction, the insider now directly owns 130,612 shares in the company, valued at $4,311,502.12. This trade represents a 16.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 84,724 shares of company stock worth $2,724,435. Corporate insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd increased its stake in Cinemark by 26.9% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 152,400 shares of the company’s stock valued at $4,722,000 after acquiring an additional 32,310 shares during the last quarter. Franklin Resources Inc. increased its stake in Cinemark by 25.0% in the fourth quarter. Franklin Resources Inc. now owns 70,964 shares of the company’s stock valued at $2,198,000 after acquiring an additional 14,207 shares during the last quarter. Vanguard Group Inc. increased its stake in Cinemark by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 12,505,099 shares of the company’s stock valued at $387,408,000 after acquiring an additional 109,179 shares during the last quarter. Principal Financial Group Inc. increased its stake in Cinemark by 5.2% in the fourth quarter. Principal Financial Group Inc. now owns 662,790 shares of the company’s stock valued at $20,533,000 after acquiring an additional 33,008 shares during the last quarter. Finally, Prudential Financial Inc. increased its stake in Cinemark by 81.2% in the fourth quarter. Prudential Financial Inc. now owns 346,525 shares of the company’s stock valued at $10,735,000 after acquiring an additional 155,243 shares during the last quarter.

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.