Cinemark Holdings Inc (NYSE:CNK) Given Average Recommendation of “Moderate Buy” by Brokerages

Cinemark Holdings Inc (NYSE:CNK) has received a consensus recommendation of “Moderate Buy” from the fifteen ratings firms that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $34.4615.

CNK has been the subject of a number of research reports. JPMorgan Chase & Co. lifted their price objective on shares of Cinemark from $35.00 to $36.00 and gave the stock an “overweight” rating in a report on Monday, May 4th. B. Riley Financial increased their target price on shares of Cinemark from $34.00 to $36.00 and gave the stock a “neutral” rating in a report on Thursday, June 11th. Wall Street Zen upgraded shares of Cinemark from a “hold” rating to a “buy” rating in a research report on Sunday, May 31st. Zacks Research lowered shares of Cinemark from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 2nd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cinemark in a research report on Wednesday, June 24th.

Cinemark Price Performance

Shares of CNK opened at $31.80 on Thursday. The firm has a market cap of $3.71 billion, a price-to-earnings ratio of 28.14 and a beta of 0.98. The stock has a 50 day moving average of $29.76 and a 200-day moving average of $27.21. The company has a current ratio of 0.62, a quick ratio of 0.58 and a debt-to-equity ratio of 5.03. Cinemark has a 52 week low of $21.60 and a 52 week high of $34.73.

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

Cinemark Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Thursday, May 28th were issued a $0.09 dividend. The ex-dividend date of this dividend was Thursday, May 28th. This represents a $0.36 dividend on an annualized basis and a yield of 1.1%. Cinemark’s dividend payout ratio (DPR) is currently 31.86%.

Hedge Funds Weigh In On Cinemark

Several institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE lifted its holdings in shares of Cinemark by 115.1% in the 1st quarter. Bank of America Corp DE now owns 831,389 shares of the company’s stock worth $23,711,000 after purchasing an additional 444,965 shares during the last quarter. Janus Henderson Group PLC grew its stake in Cinemark by 53.2% during the 1st quarter. Janus Henderson Group PLC now owns 376,632 shares of the company’s stock worth $10,742,000 after buying an additional 130,785 shares during the last quarter. Amundi grew its stake in Cinemark by 64.8% during the 1st quarter. Amundi now owns 18,212 shares of the company’s stock worth $519,000 after buying an additional 7,161 shares during the last quarter. California State Teachers Retirement System increased its position in Cinemark by 25.3% in the first quarter. California State Teachers Retirement System now owns 121,664 shares of the company’s stock worth $3,470,000 after buying an additional 24,543 shares during the period. Finally, Empowered Funds LLC acquired a new stake in Cinemark in the first quarter worth $328,000.

Cinemark Company Profile

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.