JPMorgan Chase & Co. Cuts Cinemark (NYSE:CNK) Price Target to $30.00

Cinemark (NYSE:CNK - Free Report) had its target price lowered by JPMorgan Chase & Co. from $31.00 to $30.00 in a research note released on Thursday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other brokerages also recently issued reports on CNK. Barrington Research restated an "outperform" rating and issued a $40.00 price objective on shares of Cinemark in a research note on Wednesday. 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 research report on Thursday. Macquarie lifted their price objective on shares of Cinemark from $32.00 to $34.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. Wells Fargo & Company dropped their target price on shares of Cinemark from $38.00 to $36.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 29th. Finally, StockNews.com upgraded shares of Cinemark from a "sell" rating to a "hold" rating in a research note on Sunday, November 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $32.70.

Cinemark Stock Down 1.1 %

Shares of Cinemark stock traded down $0.32 during trading on Thursday, reaching $27.47. 4,297,576 shares of the company traded hands, compared to its average volume of 2,861,287. The company has a debt-to-equity ratio of 3.87, a current ratio of 0.98 and a quick ratio of 0.96. The firm has a market capitalization of $3.36 billion, a PE ratio of 13.53 and a beta of 2.38. The company has a 50 day moving average price of $30.33 and a 200-day moving average price of $29.75. Cinemark has a 1-year low of $15.74 and a 1-year 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 for the quarter, missing the consensus estimate of $0.39 by ($0.06). The company had revenue of $814.30 million for the quarter, compared to analyst estimates of $797.18 million. Cinemark had a net margin of 10.16% and a return on equity of 65.83%. Cinemark's revenue for the quarter was up 27.5% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.15) EPS. As a group, equities research analysts expect that Cinemark will post 1.98 earnings per share for the current fiscal year.

Cinemark Dividend Announcement

The business also recently declared 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 payout ratio is currently 15.76%.

Institutional Trading of Cinemark

A number of hedge funds and other institutional investors have recently made changes to their positions in CNK. Vanguard Group Inc. grew its holdings in Cinemark by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 12,505,099 shares of the company's stock valued at $387,408,000 after buying an additional 109,179 shares in the last quarter. Candlestick Capital Management LP boosted its position in shares of Cinemark by 48.1% in the fourth quarter. Candlestick Capital Management LP now owns 4,931,618 shares of the company's stock valued at $152,782,000 after acquiring an additional 1,601,537 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in Cinemark by 100.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,104,552 shares of the company's stock valued at $127,159,000 after acquiring an additional 2,054,579 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Cinemark by 12.8% during 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 period. Finally, Marshall Wace LLP increased its holdings in Cinemark by 14.5% during 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 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.