JPMorgan Chase & Co. upgraded shares of Cinemark (NYSE:CNK - Free Report) from a neutral rating to an overweight rating in a report released on Friday, Marketbeat.com reports. They currently have $34.00 price objective on the stock, up from their previous price objective of $30.00.
A number of other analysts also recently weighed in on CNK. Wedbush reissued a "neutral" rating and set a $32.00 target price on shares of Cinemark in a research report on Tuesday, February 18th. Benchmark dropped their target price on shares of Cinemark from $40.00 to $35.00 and set a "buy" rating on the stock in a report on Thursday, February 20th. Morgan Stanley decreased their price target on Cinemark from $40.00 to $35.00 and set an "overweight" rating for the company in a report on Thursday, February 20th. Wells Fargo & Company dropped their price objective on Cinemark from $38.00 to $36.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 29th. Finally, Barrington Research reiterated an "outperform" rating and issued a $40.00 target price on shares of Cinemark in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $33.10.
Read Our Latest Stock Analysis on Cinemark
Cinemark Trading Up 1.4 %
Shares of Cinemark stock traded up $0.38 on Friday, hitting $28.14. The stock had a trading volume of 2,492,549 shares, compared to its average volume of 2,929,448. The stock has a 50 day moving average of $26.72 and a 200 day moving average of $29.21. 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 has a twelve month low of $16.32 and a twelve month high of $36.28. The firm has a market capitalization of $3.32 billion, a P/E ratio of 13.86 and a beta of 2.07.
Cinemark (NYSE:CNK - Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.33 EPS for the quarter, missing analysts' consensus estimates of $0.39 by ($0.06). The business had revenue of $814.30 million for the quarter, compared to analyst estimates of $797.18 million. Cinemark had a return on equity of 65.83% and a net margin of 10.16%. Cinemark's revenue for the quarter was up 27.5% on a year-over-year basis. During the same quarter last year, the firm posted ($0.15) EPS. Sell-side analysts expect that Cinemark will post 1.93 earnings per share for the current fiscal year.
Cinemark Announces Dividend
The business also recently announced a -- dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were given a dividend of $0.08 per share. The ex-dividend date was Wednesday, March 5th. Cinemark's dividend payout ratio is currently 15.76%.
Insiders Place Their Bets
In other news, insider Wanda Marie Gierhart sold 9,119 shares of the business's stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $27.00, for a total value of $246,213.00. Following the sale, the insider now owns 147,414 shares of the company's stock, valued at $3,980,178. The trade was a 5.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 2.30% of the company's stock.
Hedge Funds Weigh In On Cinemark
A number of large investors have recently made changes to their positions in CNK. Elequin Capital LP boosted its stake in Cinemark by 211.6% in the 4th quarter. Elequin Capital LP now owns 997 shares of the company's stock worth $31,000 after purchasing an additional 677 shares during the period. Russell Investments Group Ltd. grew its stake in Cinemark by 402.4% during the fourth quarter. Russell Investments Group Ltd. now owns 1,030 shares of the company's stock valued at $32,000 after acquiring an additional 825 shares in the last quarter. Aster Capital Management DIFC Ltd increased its holdings in Cinemark by 380.0% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,896 shares of the company's stock worth $59,000 after acquiring an additional 1,501 shares during the period. R Squared Ltd purchased a new stake in Cinemark in the 4th quarter worth approximately $63,000. Finally, Quarry LP grew its position in shares of Cinemark by 41.8% during the 4th quarter. Quarry LP now owns 2,114 shares of the company's stock valued at $65,000 after purchasing an additional 623 shares in the last quarter.
About Cinemark
(
Get Free Report)
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.
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