MKM Partners Lowers Cinemark (NYSE:CNK) Price Target to $43.00

Cinemark (NYSE:CNK) had its price target trimmed by MKM Partners to $43.00 in a report issued on Monday, The Fly reports. The brokerage currently has a buy rating on the stock.

A number of other brokerages also recently weighed in on CNK. Wedbush set a $13.00 price target on shares of SLM and gave the stock a buy rating in a report on Monday, April 22nd. ValuEngine raised shares of Zynerba Pharmaceuticals from a sell rating to a hold rating in a research note on Monday, April 1st. Finally, Loop Capital reissued a hold rating on shares of AMC Entertainment in a research note on Wednesday, July 3rd. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $44.56.

Shares of Cinemark stock opened at $36.47 on Monday. The stock’s 50 day moving average price is $37.39. Cinemark has a 1-year low of $34.03 and a 1-year high of $43.51. The company has a debt-to-equity ratio of 2.18, a quick ratio of 0.80 and a current ratio of 0.83. The company has a market cap of $4.42 billion, a P/E ratio of 23.91, a PEG ratio of 1.10 and a beta of 0.73.

Cinemark (NYSE:CNK) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $0.28 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.04. Cinemark had a net margin of 5.85% and a return on equity of 12.61%. The company had revenue of $714.70 million during the quarter, compared to the consensus estimate of $688.51 million. During the same quarter in the prior year, the firm posted $0.53 EPS. The firm’s quarterly revenue was down 8.4% on a year-over-year basis. As a group, equities analysts predict that Cinemark will post 2.29 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 24th. Investors of record on Monday, June 10th were paid a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 3.73%. The ex-dividend date of this dividend was Friday, June 7th. Cinemark’s payout ratio is 74.32%.

In related news, insider Valmir Fernandes sold 4,033 shares of the stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $43.00, for a total value of $173,419.00. Following the completion of the transaction, the insider now owns 114,961 shares of the company’s stock, valued at approximately $4,943,323. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 9.00% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of CNK. Quadrant Capital Group LLC raised its stake in shares of Cinemark by 766.1% during the first quarter. Quadrant Capital Group LLC now owns 1,429 shares of the company’s stock valued at $55,000 after acquiring an additional 1,264 shares during the last quarter. Marshall Wace LLP bought a new position in shares of Cinemark during the first quarter valued at $65,000. Cutler Group LP bought a new position in shares of Cinemark during the first quarter valued at $115,000. Starr International Co. Inc. bought a new position in shares of Cinemark during the first quarter valued at $154,000. Finally, QS Investors LLC bought a new position in shares of Cinemark during the fourth quarter valued at $162,000. 98.67% of the stock is owned by institutional investors and hedge funds.

Cinemark Company Profile

Cinemark Holdings, Inc, together with its subsidiaries, engages in the motion picture exhibition business. As of December 31, 2018, it operated 341 theatres and 4,586 screens in 41 states of the United States; and 205 theatres and 1,462 screens in Brazil, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Bolivia, Curacao, and Paraguay.

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Analyst Recommendations for Cinemark (NYSE:CNK)

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