Macquarie Reaffirms Outperform Rating for Cinemark (NYSE:CNK)

Macquarie restated their outperform rating on shares of Cinemark (NYSE:CNK) in a report released on Thursday morning,Benzinga reports. They currently have a $35.00 price objective on the stock.

Several other research analysts have also commented on CNK. JPMorgan Chase & Co. cut their price target on Cinemark from $31.00 to $30.00 and set a “neutral” rating on the stock in a research report on Thursday. Morgan Stanley lowered their target price on shares of Cinemark from $40.00 to $35.00 and set an “overweight” rating on the stock in a research report on Thursday. 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. StockNews.com raised shares of Cinemark from a “sell” rating to a “hold” rating in a research report on Sunday, November 10th. Finally, Wells Fargo & Company dropped their price objective 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. 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 given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $32.70.

Cinemark Trading Down 3.0 %

NYSE CNK opened at $27.72 on Thursday. The firm’s fifty day moving average price is $30.33 and its 200 day moving average price is $29.75. Cinemark has a 12 month low of $15.74 and a 12 month high of $36.28. The company has a debt-to-equity ratio of 3.46, a current ratio of 0.98 and a quick ratio of 0.96. The company has a market capitalization of $3.39 billion, a price-to-earnings ratio of 17.88 and a beta of 2.38.

Cinemark (NYSE:CNK) last issued its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $797.18 million. During the same period in the previous year, the business posted ($0.15) EPS. The business’s revenue for the quarter was up 27.5% compared to the same quarter last year. On average, sell-side analysts expect that Cinemark will post 2.08 earnings per share for the current fiscal year.

Cinemark Announces Dividend

The firm 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 of this dividend is Wednesday, March 5th.

Institutional Trading of Cinemark

Institutional investors have recently modified their holdings of the business. Arrowstreet Capital Limited Partnership lifted its holdings in Cinemark by 100.2% in 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 during the period. Candlestick Capital Management LP boosted 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 worth $152,782,000 after purchasing an additional 1,601,537 shares in the last quarter. Maverick Capital Ltd. increased its position 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 buying an additional 1,413,557 shares in the last quarter. Simcoe Capital Management LLC purchased a new position in shares of Cinemark in the fourth quarter valued at $37,763,000. Finally, Man Group plc acquired a new position in shares of Cinemark during the 4th quarter worth $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.