Cinemark (NYSE:CNK) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Cinemark (NYSE:CNK) from a buy rating to a strong-buy rating in a report published on Saturday morning.

Other equities research analysts have also recently issued research reports about the company. Roth Capital set a $40.00 price objective on Cinemark in a research note on Thursday, July 30th. Morgan Stanley set a $40.00 target price on Cinemark in a research report on Wednesday, July 29th. Barrington Research set a $42.00 target price on Cinemark in a report on Thursday, July 30th. Wedbush lifted their price target on shares of Cinemark from $40.00 to $43.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Finally, Zacks Research upgraded shares of Cinemark from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $37.93.

Cinemark Price Performance

CNK stock opened at $37.42 on Friday. The stock has a market capitalization of $4.34 billion, a PE ratio of 22.14 and a beta of 1.00. The company’s 50-day moving average is $33.41 and its 200-day moving average is $29.60. The company has a debt-to-equity ratio of 3.87, a current ratio of 0.84 and a quick ratio of 0.81. Cinemark has a 1 year low of $21.60 and a 1 year high of $38.98.

Cinemark (NYSE:CNK) last issued its earnings results on Thursday, July 30th. The company reported $1.19 EPS for the quarter, beating the consensus estimate of $1.03 by $0.16. Cinemark had a return on equity of 50.94% and a net margin of 6.44%.The company had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same period last year, the business posted $0.63 EPS. The firm’s revenue for the quarter was up 15.5% compared to the same quarter last year. Equities research analysts expect that Cinemark will post 2.34 EPS for the current fiscal year.

Cinemark Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Wednesday, August 26th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Wednesday, August 26th. Cinemark’s payout ratio is currently 21.30%.

Institutional Trading of Cinemark

Several institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. purchased a new position in shares of Cinemark during the second quarter valued at approximately $530,855,000. Orbis Allan Gray Ltd raised its position in Cinemark by 31.0% in the 4th quarter. Orbis Allan Gray Ltd now owns 15,057,911 shares of the company’s stock valued at $349,946,000 after buying an additional 3,563,810 shares during the last quarter. Wellington Management Group LLP lifted its stake in Cinemark by 8.4% during the 4th quarter. Wellington Management Group LLP now owns 9,536,900 shares of the company’s stock valued at $221,638,000 after acquiring an additional 742,307 shares in the last quarter. Lavaca Capital LLC bought a new position in Cinemark during the 4th quarter valued at $133,045,000. Finally, State Street Corp lifted its stake in Cinemark by 1.5% during the 4th quarter. State Street Corp now owns 3,950,606 shares of the company’s stock valued at $91,812,000 after acquiring an additional 60,176 shares in the last quarter.

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.