JPMorgan Chase & Co. Lowers 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 report report published on Thursday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other equities research analysts have also recently weighed in on the stock. Benchmark lowered their price objective on shares of Cinemark from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Thursday. Macquarie increased their price objective on Cinemark from $32.00 to $34.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Wedbush restated a “neutral” rating and set a $32.00 target price on shares of Cinemark in a research report on Tuesday, February 18th. Wells Fargo & Company reduced their target price 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. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $40.00 price objective on shares of Cinemark in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $32.70.

Cinemark Stock Performance

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

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). The firm had revenue of $814.30 million for the quarter, compared to analyst estimates of $797.18 million. Cinemark had a return on equity of 65.83% and a net margin of 10.16%. The company’s revenue for the quarter was up 27.5% compared to the same quarter last year. During the same quarter last year, the business earned ($0.15) EPS. As a group, analysts predict that Cinemark will post 1.93 EPS for the current fiscal year.

Cinemark Dividend Announcement

The company 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. Cinemark’s dividend payout ratio (DPR) is 15.76%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Elequin Capital LP lifted its stake in 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 acquiring an additional 677 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of Cinemark by 402.4% in the fourth quarter. Russell Investments Group Ltd. now owns 1,030 shares of the company’s stock worth $32,000 after purchasing an additional 825 shares in the last quarter. Quarry LP lifted its position in shares of 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 grew its position in Cinemark by 380.0% in 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 in the last quarter. Finally, R Squared Ltd acquired a new stake in Cinemark in the 4th 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.