JPMorgan Chase & Co. Cuts Cinemark (NYSE:CNK) Price Target to $30.00

Cinemark (NYSE:CNK) had its price objective lowered by JPMorgan Chase & Co. from $31.00 to $30.00 in a research note issued to investors on Thursday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other research analysts have also recently commented on CNK. Barrington Research reiterated an “outperform” rating and issued a $40.00 target price on shares of Cinemark in a report on Wednesday. Wedbush reaffirmed a “neutral” rating and issued a $32.00 price objective on shares of Cinemark in a research note on Tuesday, February 18th. Benchmark cut their target price on shares of Cinemark from $40.00 to $35.00 and set a “buy” rating on the stock in a research note on Thursday. StockNews.com raised Cinemark from a “sell” rating to a “hold” rating in a research report on Sunday, November 10th. Finally, Macquarie upped 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 issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Cinemark has a consensus rating of “Moderate Buy” and an average price target of $32.70.

Cinemark Price Performance

NYSE CNK opened at $27.47 on Thursday. Cinemark has a 1 year low of $15.74 and a 1 year high of $36.28. The business’s fifty day moving average is $30.24 and its two-hundred day moving average is $29.79. The stock has a market capitalization of $3.36 billion, a P/E ratio of 13.53 and a beta of 2.38. The company has a debt-to-equity ratio of 3.28, a quick ratio of 0.96 and a current ratio of 1.01.

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 analysts’ consensus estimates of $0.39 by ($0.06). Cinemark had a return on equity of 65.83% and a net margin of 10.16%. The company had revenue of $814.30 million for the quarter, compared to analyst estimates of $797.18 million. During the same period last year, the firm earned ($0.15) earnings per share. The firm’s revenue for the quarter was up 27.5% on a year-over-year basis. On average, research analysts forecast that Cinemark will post 1.93 earnings per share for the current fiscal year.

Cinemark Dividend Announcement

The business also recently disclosed a — dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be paid a $0.08 dividend. The ex-dividend date is Wednesday, March 5th. Cinemark’s payout ratio is 15.76%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CNK. Elequin Capital LP grew its position in Cinemark by 211.6% during the fourth quarter. Elequin Capital LP now owns 997 shares of the company’s stock worth $31,000 after buying an additional 677 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of Cinemark by 402.4% in the 4th quarter. Russell Investments Group Ltd. now owns 1,030 shares of the company’s stock worth $32,000 after acquiring an additional 825 shares during the period. Quarry LP grew its holdings in shares of Cinemark by 714.8% during the 3rd 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 increased its position in shares of 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 shares of Cinemark in the fourth quarter valued at $63,000.

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.