Barrington Research Cuts Cinemark (NYSE:CNK) Price Target to $32.00

Cinemark (NYSE:CNK) had its price objective cut by Barrington Research from $36.00 to $32.00 in a report released on Monday morning,Benzinga reports. They currently have an outperform rating on the stock.

A number of other research analysts also recently issued reports on the company. B. Riley dropped their price target on Cinemark from $35.00 to $29.00 and set a “neutral” rating on the stock in a research note on Thursday, January 22nd. Weiss Ratings restated a “hold (c)” rating on shares of Cinemark in a research report on Monday, December 29th. Roth Mkm reaffirmed a “buy” rating and issued a $35.00 target price on shares of Cinemark in a report on Wednesday, November 5th. Zacks Research upgraded shares of Cinemark from a “strong sell” rating to a “hold” rating in a research note on Friday, October 3rd. Finally, Wells Fargo & Company lowered their price objective on shares of Cinemark from $33.00 to $32.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 14th. Ten equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $32.83.

Cinemark Price Performance

Shares of NYSE:CNK opened at $23.54 on Monday. Cinemark has a 12 month low of $21.60 and a 12 month high of $34.01. The firm has a market capitalization of $2.77 billion, a P/E ratio of 22.64, a P/E/G ratio of 2.29 and a beta of 1.10. The company has a debt-to-equity ratio of 5.01, a current ratio of 0.76 and a quick ratio of 0.72. The company’s fifty day moving average price is $24.18 and its 200 day moving average price is $26.28.

Cinemark (NYSE:CNK) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.04). Cinemark had a net margin of 4.93% and a return on equity of 34.33%. The company had revenue of $857.50 million during the quarter, compared to analyst estimates of $851.47 million. During the same quarter in the prior year, the company earned $1.19 EPS. The business’s revenue was down 7.0% on a year-over-year basis. As a group, sell-side analysts predict that Cinemark will post 1.93 earnings per share for the current fiscal year.

Cinemark Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 12th. Investors of record on Friday, November 28th were given a $0.09 dividend. This is a positive change from Cinemark’s previous quarterly dividend of $0.08. The ex-dividend date was Friday, November 28th. This represents a $0.36 dividend on an annualized basis and a yield of 1.5%. Cinemark’s payout ratio is 34.62%.

Insider Buying and Selling

In other Cinemark news, EVP Melissa Thomas sold 22,082 shares of the company’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $24.81, for a total transaction of $547,854.42. Following the completion of the transaction, the executive vice president owned 167,360 shares in the company, valued at approximately $4,152,201.60. This represents a 11.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Marshall Wace LLP lifted its position in Cinemark by 758.9% in the second quarter. Marshall Wace LLP now owns 4,497,305 shares of the company’s stock valued at $135,729,000 after purchasing an additional 3,973,689 shares during the period. Woodline Partners LP purchased a new position in shares of Cinemark during the 3rd quarter worth approximately $33,390,000. Squarepoint Ops LLC lifted its holdings in shares of Cinemark by 119.9% in the 2nd quarter. Squarepoint Ops LLC now owns 2,180,513 shares of the company’s stock valued at $65,808,000 after buying an additional 1,188,709 shares during the period. Man Group plc acquired a new stake in shares of Cinemark in the 2nd quarter valued at approximately $33,953,000. Finally, SG Americas Securities LLC boosted its stake in shares of Cinemark by 102.4% in the third quarter. SG Americas Securities LLC now owns 24,281 shares of the company’s stock valued at $680,000 after buying an additional 1,023,333 shares in the last quarter.

About Cinemark

Cinemark Holdings, Inc (NYSE: CNK) is a leading theatrical exhibitor that acquires, develops and operates motion picture theatres under the Cinemark® brand in the United States and Latin America. The company’s core business involves the presentation of first-run feature films coupled with an array of in‐theatre services, including concessions, premium auditoriums and loyalty programs. Cinemark’s exhibition portfolio encompasses both corporate‐owned and franchised complexes, offering moviegoers a range of experiences from standard screens to large‐format halls.

The company’s product offerings extend beyond ticket sales to include an assortment of concession items, such as popcorn, fountain beverages, candy and specialty snacks, as well as bar and lounge concepts in select locations.