Cinemark Holdings Inc. (CNK) Sees Large Volume Increase
Cinemark Holdings Inc. (NYSE:CNK) shares saw an uptick in trading volume on Wednesday . 612,335 shares traded hands during mid-day trading, an increase of 21% from the previous session’s volume of 505,727 shares.The stock last traded at $37.70 and had previously closed at $38.05.
A number of research firms have issued reports on CNK. Wunderlich lifted their price target on Cinemark Holdings from $40.00 to $47.00 and gave the company a “buy” rating in a research note on Friday, August 12th. Wedbush reiterated a “neutral” rating and set a $40.00 price target on shares of Cinemark Holdings in a research note on Friday, July 15th. B. Riley upgraded Cinemark Holdings from a “neutral” rating to a “buy” rating and lifted their price target for the company from $41.75 to $47.00 in a research note on Thursday, August 4th. Loop Capital began coverage on Cinemark Holdings in a research note on Tuesday, August 23rd. They set a “buy” rating and a $44.00 price target for the company. Finally, Drexel Hamilton downgraded Cinemark Holdings from a “buy” rating to a “hold” rating and set a $42.00 price target for the company. in a research note on Wednesday, August 10th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $40.46.
The stock’s 50 day moving average price is $38.16 and its 200 day moving average price is $36.19. The firm has a market cap of $4.40 billion, a price-to-earnings ratio of 20.39 and a beta of 1.04.
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Cinemark Holdings (NYSE:CNK) last announced its quarterly earnings data on Tuesday, August 9th. The company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by $0.05. Cinemark Holdings had a net margin of 7.58% and a return on equity of 19.68%. The company had revenue of $744.40 million for the quarter, compared to the consensus estimate of $746.05 million. During the same quarter in the previous year, the business earned $0.61 EPS. The company’s quarterly revenue was down 6.9% compared to the same quarter last year. Equities analysts forecast that Cinemark Holdings Inc. will post $1.94 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 13th. Investors of record on Wednesday, August 31st were issued a dividend of $0.27 per share. The ex-dividend date was Monday, August 29th. This represents a $1.08 dividend on an annualized basis and a yield of 2.83%. Cinemark Holdings’s payout ratio is 58.06%.
A number of large investors have recently made changes to their positions in CNK. 1832 Asset Management L.P. raised its stake in Cinemark Holdings by 377.4% in the first quarter. 1832 Asset Management L.P. now owns 1,068,794 shares of the company’s stock valued at $63,160,000 after buying an additional 844,925 shares in the last quarter. BlackRock Fund Advisors raised its stake in Cinemark Holdings by 10.3% in the first quarter. BlackRock Fund Advisors now owns 6,126,668 shares of the company’s stock valued at $219,519,000 after buying an additional 569,842 shares in the last quarter. Citadel Advisors LLC raised its stake in Cinemark Holdings by 146.0% in the second quarter. Citadel Advisors LLC now owns 738,168 shares of the company’s stock valued at $26,914,000 after buying an additional 438,044 shares in the last quarter. Bank of Montreal Can acquired a new stake in Cinemark Holdings during the second quarter valued at approximately $15,926,000. Finally, Vanguard Group Inc. raised its stake in Cinemark Holdings by 4.8% in the second quarter. Vanguard Group Inc. now owns 7,699,930 shares of the company’s stock valued at $280,740,000 after buying an additional 352,241 shares in the last quarter. Institutional investors own 88.52% of the company’s stock.
About Cinemark Holdings
Cinemark Holdings, Inc (Cinemark) is engaged in the motion picture exhibition business with theatres in the United States, Brazil, Mexico, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Curacao and Bolivia. The Company manages its business in two segments: United States markets and international markets.
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