Cinemark (NYSE:CNK) Given New $35.00 Price Target at Benchmark

Cinemark (NYSE:CNK - Free Report) had its target price lowered by Benchmark from $40.00 to $35.00 in a research report released on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other equities analysts have also recently weighed in on the stock. Wedbush reaffirmed a "neutral" rating and set a $32.00 target price on shares of Cinemark in a research note on Tuesday. Barrington Research reaffirmed an "outperform" rating and set a $40.00 target price on shares of Cinemark in a research note on Wednesday. StockNews.com raised shares of Cinemark from a "sell" rating to a "hold" rating in a research note on Sunday, November 10th. JPMorgan Chase & Co. raised their target price on shares of Cinemark from $29.00 to $31.00 and gave the company a "neutral" rating in a research note on Thursday, January 30th. Finally, Macquarie raised their target price on shares of Cinemark from $32.00 to $34.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $32.70.

Cinemark Price Performance

Shares of NYSE CNK traded down $0.32 during midday trading on Thursday, reaching $27.47. The stock had a trading volume of 4,297,576 shares, compared to its average volume of 2,861,287. The stock has a 50-day moving average of $30.33 and a 200-day moving average of $29.75. The company has a debt-to-equity ratio of 3.87, a quick ratio of 0.96 and a current ratio of 0.98. The company has a market capitalization of $3.36 billion, a price-to-earnings ratio of 13.53 and a beta of 2.38. Cinemark has a 12-month low of $15.74 and a 12-month high of $36.28.

Cinemark (NYSE:CNK - Get Free Report) last announced its quarterly earnings data 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). The firm had revenue of $814.30 million during the quarter, compared to analysts' expectations of $797.18 million. Cinemark had a return on equity of 65.83% and a net margin of 10.16%. The business's revenue for the quarter was up 27.5% on a year-over-year basis. During the same period last year, the company earned ($0.15) earnings per share. As a group, research analysts anticipate that Cinemark will post 1.98 EPS for the current fiscal year.

Cinemark Dividend Announcement

The company also recently announced a -- dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be issued a $0.08 dividend. The ex-dividend date is Wednesday, March 5th. Cinemark's dividend payout ratio (DPR) is presently 15.76%.

Institutional Investors Weigh In On Cinemark

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Cinemark by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 12,505,099 shares of the company's stock worth $387,408,000 after acquiring an additional 109,179 shares during the last quarter. Candlestick Capital Management LP lifted its holdings in shares of Cinemark by 48.1% in the 4th quarter. Candlestick Capital Management LP now owns 4,931,618 shares of the company's stock worth $152,782,000 after acquiring an additional 1,601,537 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings 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 worth $127,159,000 after acquiring an additional 2,054,579 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Cinemark by 12.8% in the 4th quarter. Renaissance Technologies LLC now owns 3,801,578 shares of the company's stock worth $117,773,000 after acquiring an additional 430,006 shares during the last quarter. Finally, Marshall Wace LLP lifted its holdings in shares of Cinemark by 14.5% in the 4th quarter. Marshall Wace LLP now owns 3,124,834 shares of the company's stock worth $96,807,000 after acquiring an additional 396,720 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.