Cinemark (NYSE:CNK) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Cinemark Holdings Inc (NYSE:CNK) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $27.64 and traded as high as $29.95. Cinemark shares last traded at $29.3670, with a volume of 2,077,374 shares traded.

Analysts Set New Price Targets

CNK has been the subject of a number of recent analyst reports. Benchmark increased their price target on shares of Cinemark from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, June 17th. Wells Fargo & Company boosted their price objective on shares of Cinemark from $32.00 to $36.00 and gave the stock an “overweight” rating in a research note on Thursday, April 9th. JPMorgan Chase & Co. upped their target price on shares of Cinemark from $35.00 to $36.00 and gave the company an “overweight” rating in a report on Monday, May 4th. Wall Street Zen upgraded shares of Cinemark from a “hold” rating to a “buy” rating in a research note on Sunday, May 31st. Finally, Roth Capital reiterated a “buy” rating and set a $37.00 price target on shares of Cinemark in a report on Thursday, April 23rd. Eight research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $35.00.

Cinemark Price Performance

The company’s 50-day moving average price is $29.97 and its two-hundred day moving average price is $27.64. The company has a debt-to-equity ratio of 5.03, a current ratio of 0.62 and a quick ratio of 0.58. The company has a market capitalization of $3.43 billion, a P/E ratio of 25.99 and a beta of 0.98.

Cinemark (NYSE:CNK) last announced its earnings results on Friday, May 1st. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.01). Cinemark had a return on equity of 41.31% and a net margin of 5.31%.The company had revenue of $643.10 million for the quarter, compared to the consensus estimate of $632.74 million. During the same period in the previous year, the firm posted ($0.32) EPS. The business’s quarterly revenue was up 18.9% on a year-over-year basis. As a group, sell-side analysts expect that Cinemark Holdings Inc will post 2.17 EPS for the current year.

Cinemark Announces Dividend

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

Hedge Funds Weigh In On Cinemark

Several institutional investors and hedge funds have recently made changes to their positions in the company. EverSource Wealth Advisors LLC increased its stake in shares of Cinemark by 118.5% during the second quarter. EverSource Wealth Advisors LLC now owns 935 shares of the company’s stock worth $28,000 after purchasing an additional 507 shares during the period. Leonteq Securities AG bought a new stake in Cinemark in the 4th quarter valued at $83,000. GAMMA Investing LLC boosted its stake in Cinemark by 51.8% in the 4th quarter. GAMMA Investing LLC now owns 4,022 shares of the company’s stock valued at $93,000 after purchasing an additional 1,372 shares during the period. Kestra Advisory Services LLC bought a new stake in Cinemark in the 4th quarter valued at $102,000. Finally, Bayforest Capital Ltd acquired a new position in Cinemark in the 4th quarter valued at $121,000.

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.