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

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

A number of other brokerages also recently issued reports on CNK. Wells Fargo & Company lowered their price target on shares of Cinemark from $38.00 to $36.00 and set an “overweight” rating on the stock in a report on Wednesday, January 29th. Benchmark decreased their price objective on shares of Cinemark from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Thursday. Barrington Research reaffirmed an “outperform” rating and set a $40.00 price objective on shares of Cinemark in a report on Wednesday. Wedbush reaffirmed a “neutral” rating and set a $32.00 price objective on shares of Cinemark in a report on Tuesday. Finally, Macquarie increased their price objective on shares of Cinemark from $32.00 to $34.00 and gave the company an “outperform” rating in a report on Friday, November 1st. One research 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 company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $32.70.

Cinemark Stock Down 3.0 %

NYSE:CNK opened at $27.72 on Thursday. The firm has a market capitalization of $3.39 billion, a P/E ratio of 17.88 and a beta of 2.38. Cinemark has a 1-year low of $15.74 and a 1-year high of $36.28. The company’s fifty day moving average price is $30.33 and its 200-day moving average price is $29.75. The company has a debt-to-equity ratio of 3.46, a current ratio of 0.98 and a quick ratio of 0.96.

Cinemark (NYSE:CNK) last released its quarterly earnings data 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 return on equity of 60.21% and a net margin of 8.36%. The business had revenue of $814.30 million during the quarter, compared to analyst estimates of $797.18 million. During the same quarter in the previous year, the company earned ($0.15) EPS. The firm’s revenue was up 27.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Cinemark will post 2.08 EPS for the current year.

Cinemark Announces Dividend

The firm also recently declared 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 of this dividend is Wednesday, March 5th.

Hedge Funds Weigh In On Cinemark

Several hedge funds and other institutional investors have recently modified their holdings of the business. LPL Financial LLC lifted its stake in shares of Cinemark by 6.8% in the fourth quarter. LPL Financial LLC now owns 8,722 shares of the company’s stock worth $270,000 after buying an additional 556 shares in the last quarter. QRG Capital Management Inc. increased its position in Cinemark by 3.2% during the fourth quarter. QRG Capital Management Inc. now owns 17,730 shares of the company’s stock worth $549,000 after purchasing an additional 557 shares during the last quarter. Natixis Advisors LLC increased its position in Cinemark by 2.9% during the third quarter. Natixis Advisors LLC now owns 20,638 shares of the company’s stock worth $575,000 after purchasing an additional 583 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its position in Cinemark by 3.8% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 16,270 shares of the company’s stock worth $504,000 after purchasing an additional 591 shares during the last quarter. Finally, Summit Investment Advisors Inc. increased its position in Cinemark by 5.7% during the fourth quarter. Summit Investment Advisors Inc. now owns 11,546 shares of the company’s stock worth $358,000 after purchasing an additional 618 shares during the last quarter.

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.