Cinemark’s (CNK) “Neutral” Rating Reiterated at Wedbush

Wedbush reissued their neutral rating on shares of Cinemark (NYSE:CNK) in a research report report published on Tuesday,RTT News reports. They currently have a $32.00 target price on the stock.

CNK has been the subject of a number of other research reports. Wells Fargo & Company decreased their target price on shares of Cinemark from $38.00 to $36.00 and set an “overweight” rating for the company in a research report on Wednesday, January 29th. JPMorgan Chase & Co. upped their price target on shares of Cinemark from $29.00 to $31.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. Barrington Research upgraded shares of Cinemark from a “market perform” rating to an “outperform” rating and set a $36.00 price objective on the stock in a research note on Thursday, October 31st. StockNews.com upgraded Cinemark from a “sell” rating to a “hold” rating in a research report on Sunday, November 10th. Finally, Macquarie lifted their price target on Cinemark from $32.00 to $34.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. One analyst has rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.70.

Cinemark Stock Performance

CNK opened at $27.72 on Tuesday. The company has a current ratio of 0.98, a quick ratio of 0.96 and a debt-to-equity ratio of 3.46. The business’s 50 day moving average is $30.33 and its 200-day moving average is $29.75. The stock has a market cap of $3.39 billion, a PE ratio of 17.88 and a beta of 2.38. Cinemark has a twelve month low of $15.74 and a twelve month high of $36.28.

Cinemark (NYSE:CNK) last announced its earnings results 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). Cinemark had a net margin of 8.36% and a return on equity of 60.21%. The business had revenue of $814.30 million for the quarter, compared to the consensus estimate of $797.18 million. During the same period in the previous year, the firm earned ($0.15) EPS. The firm’s revenue was up 27.5% on a year-over-year basis. On average, analysts predict that Cinemark will post 2.08 earnings per share for the current year.

Cinemark Dividend Announcement

The company also recently announced a — dividend, which will be paid on Wednesday, March 19th. Shareholders 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 Inflows and Outflows

Several large investors have recently bought and sold shares of CNK. Elequin Capital LP increased its holdings in shares of Cinemark by 211.6% in the 4th 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. raised its holdings in shares of Cinemark by 402.4% during the 4th 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 in the last quarter. Quarry LP boosted its holdings in Cinemark by 714.8% in the third quarter. Quarry LP now owns 1,491 shares of the company’s stock worth $42,000 after purchasing an additional 1,308 shares in the last quarter. Aster Capital Management DIFC Ltd boosted its holdings in Cinemark by 380.0% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,896 shares of the company’s stock worth $59,000 after purchasing an additional 1,501 shares in the last quarter. Finally, R Squared Ltd acquired a new position in Cinemark during the fourth quarter worth $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.