Cinemark (NYSE:CNK) Sets New 52-Week Low – What’s Next?

Cinemark Holdings Inc (NYSE:CNK)’s share price hit a new 52-week low on Friday . The stock traded as low as $21.60 and last traded at $21.9280, with a volume of 6147942 shares trading hands. The stock had previously closed at $23.49.

Analyst Ratings Changes

A number of research analysts have commented on CNK shares. Weiss Ratings restated a “hold (c)” rating on shares of Cinemark in a research note on Monday. Zacks Research raised shares of Cinemark from a “strong sell” rating to a “hold” rating in a report on Friday, October 3rd. Morgan Stanley reaffirmed an “equal weight” rating and set a $28.00 price objective (down previously from $35.00) on shares of Cinemark in a report on Thursday. UBS Group set a $35.00 price objective on Cinemark in a research report on Wednesday, December 10th. Finally, Benchmark reissued a “buy” rating on shares of Cinemark in a report on Wednesday, December 10th. Eight research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $34.73.

Cinemark Price Performance

The company has a 50-day moving average price of $26.76 and a 200-day moving average price of $27.89. The firm has a market capitalization of $2.58 billion, a P/E ratio of 21.08, a price-to-earnings-growth ratio of 2.46 and a beta of 1.10. The company has a debt-to-equity ratio of 5.01, a quick ratio of 0.72 and a current ratio of 0.76.

Cinemark (NYSE:CNK) last posted its earnings results on Wednesday, November 5th. The company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.04). The company had revenue of $857.50 million for the quarter, compared to analyst estimates of $851.47 million. Cinemark had a return on equity of 34.33% and a net margin of 4.93%.Cinemark’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.19 earnings per share. On average, sell-side analysts predict that Cinemark Holdings Inc will post 1.93 earnings per share for the current year.

Cinemark Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 12th. Shareholders of record on Friday, November 28th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.6%. This is a boost from Cinemark’s previous quarterly dividend of $0.08. The ex-dividend date was Friday, November 28th. Cinemark’s dividend payout ratio (DPR) is 34.62%.

Insider Buying and Selling at Cinemark

In other news, EVP Melissa Thomas sold 22,082 shares of the business’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $24.81, for a total value of $547,854.42. Following the completion of the transaction, the executive vice president owned 167,360 shares of the company’s stock, valued at $4,152,201.60. The trade was a 11.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Cinemark

Large investors have recently modified their holdings of the business. Marshall Wace LLP raised its position in shares of Cinemark by 758.9% during the second quarter. Marshall Wace LLP now owns 4,497,305 shares of the company’s stock worth $135,729,000 after purchasing an additional 3,973,689 shares during the period. Assenagon Asset Management S.A. raised its holdings in Cinemark by 106.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 2,589,372 shares of the company’s stock worth $78,147,000 after buying an additional 1,338,153 shares during the period. Squarepoint Ops LLC lifted its stake in Cinemark by 119.9% in the second quarter. Squarepoint Ops LLC now owns 2,180,513 shares of the company’s stock valued at $65,808,000 after buying an additional 1,188,709 shares in the last quarter. Qube Research & Technologies Ltd boosted its holdings in shares of Cinemark by 2.8% in the third quarter. Qube Research & Technologies Ltd now owns 2,069,188 shares of the company’s stock valued at $57,979,000 after buying an additional 56,275 shares during the period. Finally, Cartenna Capital LP increased its position in shares of Cinemark by 29.4% during the third quarter. Cartenna Capital LP now owns 1,650,000 shares of the company’s stock worth $46,233,000 after acquiring an additional 375,000 shares in the last quarter.

Cinemark Company Profile

Cinemark Holdings, Inc, together with its subsidiaries, engages in the motion picture exhibition business. As of February 16, 2024, it operated 501 theatres with 5,719 screens in 42 states and 13 countries in South and Central America. Cinemark Holdings, Inc was founded in 1984 and is headquartered in Plano, Texas.