Cinemark (NYSE:CNK) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Cinemark (NYSE:CNK) from a hold rating to a strong-buy rating in a research report sent to investors on Monday,Zacks.com reports.

Several other research firms have also recently commented on CNK. Roth Mkm reissued a “buy” rating and set a $37.00 target price on shares of Cinemark in a research note on Thursday, April 23rd. The Goldman Sachs Group reaffirmed a “sell” rating and set a $22.00 price objective on shares of Cinemark in a research report on Thursday, February 19th. UBS Group raised Cinemark to a “buy” rating in a research report on Tuesday, January 20th. B. Riley Financial reaffirmed a “neutral” rating on shares of Cinemark in a research report on Friday, April 17th. Finally, Morgan Stanley upped their price objective on Cinemark from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.31.

Cinemark Trading Down 1.0%

CNK opened at $26.99 on Monday. Cinemark has a 12 month low of $21.60 and a 12 month high of $34.01. The stock has a market capitalization of $3.15 billion, a price-to-earnings ratio of 23.88 and a beta of 1.03. The company has a debt-to-equity ratio of 4.81, a current ratio of 0.71 and a quick ratio of 0.67. The business has a fifty day moving average price of $28.23 and a 200 day moving average price of $26.42.

Cinemark (NYSE:CNK) last released 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 analyst estimates of $632.74 million. During the same period in the previous year, the firm earned ($0.32) earnings per share. The company’s revenue for the quarter was up 18.9% compared to the same quarter last year. Sell-side analysts expect that Cinemark will post 2.17 earnings per share for the current fiscal year.

Cinemark Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 17th. Stockholders of record on Tuesday, March 3rd were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend was Tuesday, March 3rd. Cinemark’s dividend payout ratio is currently 31.86%.

Institutional Trading of Cinemark

Institutional investors and hedge funds have recently made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its holdings in shares of Cinemark by 118.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 935 shares of the company’s stock valued at $28,000 after purchasing an additional 507 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Cinemark in the third quarter valued at approximately $63,000. Smartleaf Asset Management LLC boosted its holdings in shares of Cinemark by 20.1% in the third quarter. Smartleaf Asset Management LLC now owns 3,027 shares of the company’s stock valued at $83,000 after acquiring an additional 506 shares during the period. Leonteq Securities AG acquired a new stake in shares of Cinemark in the fourth quarter valued at approximately $83,000. Finally, GAMMA Investing LLC increased its holdings in shares of 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 acquiring an additional 1,372 shares during the period.

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.