Cinemark (NYSE:CNK) Price Target Cut to $35.00 by Analysts at Benchmark

Cinemark (NYSE:CNK) had its price target decreased by Benchmark from $40.00 to $35.00 in a research report report published on Thursday,Benzinga reports. Benchmark currently has a buy rating on the stock.

CNK has been the subject of a number of other research reports. JPMorgan Chase & Co. upped their price objective on Cinemark from $29.00 to $31.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. Wells Fargo & Company dropped their price target on Cinemark from $38.00 to $36.00 and set an “overweight” rating for the company in a research note on Wednesday, January 29th. StockNews.com upgraded shares of Cinemark from a “sell” rating to a “hold” rating in a research report on Sunday, November 10th. Wedbush restated a “neutral” rating and set a $32.00 target price on shares of Cinemark in a research report on Tuesday. 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 issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $32.70.

Cinemark Stock Performance

Shares of CNK opened at $27.72 on Thursday. Cinemark has a 52 week low of $15.74 and a 52 week high of $36.28. The company has a quick ratio of 0.96, a current ratio of 0.98 and a debt-to-equity ratio of 3.46. The stock has a market cap of $3.39 billion, a price-to-earnings ratio of 17.88 and a beta of 2.38. The business has a 50-day simple moving average of $30.33 and a two-hundred day simple moving average of $29.75.

Cinemark (NYSE:CNK) last released its 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 return on equity of 60.21% and a net margin of 8.36%. The firm had revenue of $814.30 million during the quarter, compared to analysts’ expectations of $797.18 million. During the same period in the prior year, the company posted ($0.15) earnings per share. The company’s revenue was up 27.5% compared to the same quarter last year. On average, analysts expect that Cinemark will post 2.08 EPS for the current year.

Cinemark Dividend Announcement

The firm also recently disclosed a — dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be paid a $0.08 dividend. The ex-dividend date is Wednesday, March 5th.

Institutional Trading of Cinemark

Several hedge funds have recently made changes to their positions in CNK. Arrowstreet Capital Limited Partnership raised its holdings in Cinemark by 100.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,104,552 shares of the company’s stock valued at $127,159,000 after buying an additional 2,054,579 shares during the period. Candlestick Capital Management LP increased its position in Cinemark by 48.1% during 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 last quarter. Maverick Capital Ltd. raised its stake in shares of Cinemark by 1,356.4% in the third quarter. Maverick Capital Ltd. now owns 1,517,771 shares of the company’s stock valued at $42,255,000 after acquiring an additional 1,413,557 shares during the period. Simcoe Capital Management LLC bought a new stake in shares of Cinemark in the 4th quarter worth about $37,763,000. Finally, Man Group plc bought a new stake in shares of Cinemark in the 4th quarter worth about $28,040,000.

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.