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

Cinemark (NYSE:CNK) had its price target lowered by Morgan Stanley from $40.00 to $35.00 in a report published on Thursday,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other research analysts have also issued reports on CNK. Barrington Research reaffirmed an “outperform” rating and set a $40.00 target price on shares of Cinemark in a research report on Wednesday. Wedbush reaffirmed a “neutral” rating and set a $32.00 target price on shares of Cinemark in a research report on Tuesday. StockNews.com raised Cinemark from a “sell” rating to a “hold” rating in a research report on Sunday, November 10th. Macquarie raised their target price on Cinemark from $32.00 to $34.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Wells Fargo & Company lowered their target price on Cinemark from $38.00 to $36.00 and set an “overweight” rating for the company in a research report on Wednesday, January 29th. One analyst has rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.70.

Cinemark Stock Down 3.0 %

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 stock has a market capitalization of $3.39 billion, a price-to-earnings ratio of 17.88 and a beta of 2.38. The company has a debt-to-equity ratio of 3.46, a quick ratio of 0.96 and a current ratio of 0.98. The stock has a fifty day moving average of $30.33 and a 200-day moving average of $29.75.

Cinemark (NYSE:CNK) last announced 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). The company had revenue of $814.30 million for the quarter, compared to the consensus estimate of $797.18 million. Cinemark had a return on equity of 60.21% and a net margin of 8.36%. The firm’s revenue for the quarter was up 27.5% on a year-over-year basis. During the same period in the prior year, the business earned ($0.15) earnings per share. As a group, sell-side analysts anticipate 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. Shareholders of record on Wednesday, March 5th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Wednesday, March 5th.

Institutional Trading of Cinemark

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Cinemark by 0.9% in 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 during the period. Candlestick Capital Management LP grew its stake in shares of Cinemark by 48.1% in the 4th quarter. Candlestick Capital Management LP now owns 4,931,618 shares of the company’s stock valued at $152,782,000 after buying an additional 1,601,537 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in shares of Cinemark by 100.2% in 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. Renaissance Technologies LLC grew its stake in shares of Cinemark by 12.8% in the 4th quarter. Renaissance Technologies LLC now owns 3,801,578 shares of the company’s stock valued at $117,773,000 after buying an additional 430,006 shares during the period. Finally, Marshall Wace LLP grew its stake in shares of Cinemark by 14.5% in the 4th quarter. Marshall Wace LLP now owns 3,124,834 shares of the company’s stock valued at $96,807,000 after buying an additional 396,720 shares during the period.

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.