Cinemark (NYSE:CNK) Given New $35.00 Price Target at B. Riley Financial

Cinemark (NYSE:CNK) had its price target cut by B. Riley Financial from $36.00 to $35.00 in a research report sent to investors on Friday morning,Benzinga reports. They currently have a neutral rating on the stock.

Other equities analysts have also recently issued reports about the stock. Guggenheim set a $37.00 price target on shares of Cinemark in a research report on Thursday, July 2nd. Morgan Stanley upped their price objective on shares of Cinemark from $30.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Tuesday, June 9th. The Goldman Sachs Group upgraded shares of Cinemark from a “sell” rating to a “neutral” rating and increased their price target for the company from $23.00 to $30.00 in a research report on Wednesday, July 8th. Barrington Research reissued an “outperform” rating and set a $36.00 target price on shares of Cinemark in a report on Monday, May 4th. Finally, Roth Capital reiterated a “buy” rating and issued a $38.00 target price on shares of Cinemark in a research note on Friday. Seven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $34.58.

Cinemark Stock Up 1.9%

NYSE:CNK opened at $30.42 on Friday. The firm has a market capitalization of $3.55 billion, a P/E ratio of 26.92 and a beta of 0.98. The stock’s fifty day simple moving average is $30.12 and its 200-day simple moving average is $27.76. The company has a quick ratio of 0.58, a current ratio of 0.62 and a debt-to-equity ratio of 5.03. Cinemark has a 12-month low of $21.60 and a 12-month high of $34.73.

Cinemark (NYSE:CNK) last announced its quarterly earnings data on Friday, May 1st. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). Cinemark had a net margin of 5.31% and a return on equity of 41.31%. The firm had revenue of $643.10 million during the quarter, compared to the consensus estimate of $632.74 million. During the same period last year, the business earned ($0.32) EPS. The business’s revenue was up 18.9% on a year-over-year basis. Equities research analysts expect that Cinemark will post 2.18 earnings per share for the current year.

Cinemark Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Thursday, May 28th were issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Thursday, May 28th. Cinemark’s dividend payout ratio (DPR) is presently 31.86%.

Institutional Investors Weigh In On Cinemark

Institutional investors have recently added to or reduced their stakes in the business. Lavaca Capital LLC acquired a new position in Cinemark during the fourth quarter worth $133,045,000. Orbis Allan Gray Ltd grew its position in shares of Cinemark by 31.0% in the fourth quarter. Orbis Allan Gray Ltd now owns 15,057,911 shares of the company’s stock valued at $349,946,000 after purchasing an additional 3,563,810 shares during the period. Alyeska Investment Group L.P. purchased a new stake in shares of Cinemark in the fourth quarter valued at $55,296,000. Victory Capital Management Inc. increased its stake in Cinemark by 12,759.3% in the fourth quarter. Victory Capital Management Inc. now owns 2,026,245 shares of the company’s stock valued at $47,090,000 after purchasing an additional 2,010,488 shares during the last quarter. Finally, Woodline Partners LP acquired a new position in Cinemark in the third quarter valued at $33,390,000.

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.