Morgan Stanley Cuts Cinemark (NYSE:CNK) Price Target to $35.00

Cinemark (NYSE:CNK - Free Report) had its target price reduced by Morgan Stanley from $40.00 to $35.00 in a research note released on Thursday,Benzinga reports. Morgan Stanley currently has an overweight rating on the stock.

CNK has been the subject of a number of other reports. StockNews.com raised shares of Cinemark from a "sell" rating to a "hold" rating in a research note on Sunday, November 10th. Benchmark dropped their target price on shares of Cinemark from $40.00 to $35.00 and set a "buy" rating for the company in a research note on Thursday. Macquarie boosted their target price on shares of Cinemark from $32.00 to $34.00 and gave the stock an "outperform" rating in a research note on Friday, November 1st. Barrington Research reaffirmed an "outperform" rating and issued a $40.00 target price on shares of Cinemark in a research note on Wednesday. Finally, Wells Fargo & Company dropped their target price on shares of Cinemark from $38.00 to $36.00 and set an "overweight" rating for the company in a research note on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Cinemark presently has an average rating of "Moderate Buy" and an average target price of $32.70.

Cinemark Price Performance

CNK stock traded down $0.32 during trading on Thursday, hitting $27.47. 4,297,576 shares of the stock traded hands, compared to its average volume of 2,861,287. Cinemark has a one year low of $15.74 and a one year high of $36.28. The stock has a market cap of $3.36 billion, a price-to-earnings ratio of 13.53 and a beta of 2.38. The company has a 50 day simple moving average of $30.33 and a 200 day simple moving average of $29.75. The company has a current ratio of 0.98, a quick ratio of 0.96 and a debt-to-equity ratio of 3.87.

Cinemark (NYSE:CNK - Get Free Report) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.06). Cinemark had a net margin of 10.16% and a return on equity of 65.83%. The firm had revenue of $814.30 million for the quarter, compared to the consensus estimate of $797.18 million. During the same period in the prior year, the business earned ($0.15) earnings per share. The company's revenue for the quarter was up 27.5% on a year-over-year basis. Equities analysts expect that Cinemark will post 1.98 EPS for the current fiscal year.

Cinemark Announces Dividend

The firm also recently declared a -- dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Wednesday, March 5th. Cinemark's dividend payout ratio (DPR) is 15.76%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Elequin Capital LP grew its holdings in Cinemark by 211.6% during the fourth quarter. Elequin Capital LP now owns 997 shares of the company's stock valued at $31,000 after purchasing an additional 677 shares during the period. Russell Investments Group Ltd. grew its holdings 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 purchasing an additional 825 shares during the period. Quarry LP grew its holdings in Cinemark by 714.8% during the third quarter. Quarry LP now owns 1,491 shares of the company's stock valued at $42,000 after purchasing an additional 1,308 shares during the period. Aster Capital Management DIFC Ltd grew its holdings in Cinemark by 380.0% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,896 shares of the company's stock valued at $59,000 after purchasing an additional 1,501 shares during the period. Finally, R Squared Ltd acquired a new position in Cinemark during the fourth quarter valued at approximately $63,000.

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.