Cinemark (NYSE:CNK) Stock Breaks Above Two Hundred Day Moving Average – Should You Sell?

Shares of Cinemark Holdings Inc (NYSE:CNK) passed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $31.42 and traded as high as $36.93. Cinemark shares last traded at $35.8540, with a volume of 3,276,890 shares trading hands.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. lowered shares of Cinemark from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $40.00 to $39.00 in a research note on Friday, August 14th. Wells Fargo & Company increased their target price on shares of Cinemark from $31.00 to $34.00 and gave the stock an “equal weight” rating in a report on Friday, July 31st. Wedbush lifted their price target on shares of Cinemark from $40.00 to $43.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Guggenheim set a $37.00 price target on shares of Cinemark in a report on Thursday, July 2nd. Finally, Zacks Research cut shares of Cinemark from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 2nd. Nine equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, Cinemark has a consensus rating of “Moderate Buy” and an average price target of $37.93.

Cinemark Price Performance

The stock has a market cap of $4.28 billion, a price-to-earnings ratio of 21.85 and a beta of 0.98. The company has a 50 day simple moving average of $35.51 and a 200-day simple moving average of $31.47. The company has a current ratio of 0.84, a quick ratio of 0.81 and a debt-to-equity ratio of 3.87.

Cinemark (NYSE:CNK) last posted its quarterly earnings data on Thursday, July 30th. The company reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.16. The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.03 billion. Cinemark had a return on equity of 50.94% and a net margin of 6.44%.Cinemark’s quarterly revenue was up 15.5% on a year-over-year basis. During the same period last year, the company earned $0.63 earnings per share. Research analysts expect that Cinemark Holdings Inc will post 2.41 EPS for the current year.

Cinemark Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 9th. Stockholders of record on Wednesday, August 26th were issued a $0.09 dividend. The ex-dividend date was Wednesday, August 26th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.0%. Cinemark’s dividend payout ratio (DPR) is 21.30%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in CNK. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Cinemark during the 2nd quarter worth about $22,657,000. BlackRock Inc. bought a new position in shares of Cinemark in the 2nd quarter valued at about $530,855,000. EP Wealth Advisors LLC bought a new stake in Cinemark during the second quarter worth about $449,000. Legal & General Group Plc acquired a new position in Cinemark during the second quarter valued at approximately $7,680,000. Finally, The Manufacturers Life Insurance Company acquired a new position in Cinemark during the second quarter valued at approximately $1,659,000.

Cinemark Company Profile

Cinemark Holdings, Inc is a motion picture exhibition company that operates movie theaters in the United States and Latin America. Through its Cinemark and Century-branded locations, the company offers theatrical screenings of newly released films across a range of formats and venue types.

In addition to movie tickets, Cinemark generates revenue through food and beverage concessions, advertising, and premium entertainment experiences. Its offerings include luxury seating, large-format screens, and enhanced audio and visual presentations, along with online and mobile ticketing and the Movie Club customer loyalty program.

Founded in 1987 by Lee Roy Mitchell, Cinemark is headquartered in Plano, Texas.