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

Cinemark (NYSE:CNK) had its target price decreased by JPMorgan Chase & Co. from $31.00 to $30.00 in a research report released on Thursday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

A number of other brokerages have also recently weighed in on CNK. Benchmark dropped their price objective on shares of Cinemark from $40.00 to $35.00 and set a “buy” rating for the company in a report on Thursday. Wedbush restated a “neutral” rating and issued a $32.00 price objective on shares of Cinemark in a report on Tuesday. Wells Fargo & Company dropped their price objective on shares of Cinemark from $38.00 to $36.00 and set an “overweight” rating for the company in a report on Wednesday, January 29th. StockNews.com upgraded shares of Cinemark from a “sell” rating to a “hold” rating in a report on Sunday, November 10th. Finally, Barrington Research restated an “outperform” rating and issued a $40.00 price objective on shares of Cinemark in a report on Wednesday. One analyst has rated the stock with a sell rating, four have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.70.

Cinemark Price Performance

Cinemark stock opened at $27.72 on Thursday. Cinemark has a 12-month low of $15.74 and a 12-month high of $36.28. The stock has a market cap of $3.39 billion, a P/E ratio of 17.88 and a beta of 2.38. The company has a 50-day moving average price of $30.33 and a 200 day moving average price of $29.75. The company has a current ratio of 0.98, a quick ratio of 0.96 and a debt-to-equity ratio of 3.46.

Cinemark (NYSE:CNK) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.06). Cinemark had a net margin of 8.36% and a return on equity of 60.21%. The company had revenue of $814.30 million for the quarter, compared to analyst estimates of $797.18 million. During the same quarter in the prior year, the business earned ($0.15) earnings per share. Cinemark’s revenue was up 27.5% on a year-over-year basis. Sell-side analysts anticipate that Cinemark will post 2.08 earnings per share for the current year.

Cinemark Announces Dividend

The company also recently declared a — dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Wednesday, March 5th.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Mackenzie Financial Corp purchased a new stake in shares of Cinemark during the 4th quarter worth approximately $221,000. Elequin Capital LP lifted its position in shares of Cinemark by 211.6% during the 4th quarter. Elequin Capital LP now owns 997 shares of the company’s stock worth $31,000 after buying an additional 677 shares during the last quarter. PharVision Advisers LLC purchased a new stake in shares of Cinemark during the 4th quarter worth approximately $277,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Cinemark by 24.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 319,768 shares of the company’s stock worth $9,906,000 after buying an additional 61,911 shares during the last quarter. Finally, Voloridge Investment Management LLC purchased a new stake in shares of Cinemark during the 4th quarter worth approximately $8,317,000.

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.