Cinemark (NYSE:CNK) Downgraded by Zacks Research to “Hold”

Zacks Research downgraded shares of Cinemark (NYSE:CNK) from a strong-buy rating to a hold rating in a report issued on Wednesday morning,Zacks reports.

CNK has been the subject of a number of other reports. The Goldman Sachs Group upgraded Cinemark from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $23.00 to $30.00 in a research note on Wednesday, July 8th. JPMorgan Chase & Co. lowered Cinemark from an “overweight” rating to a “neutral” rating and cut their target price for the company from $40.00 to $39.00 in a research note on Friday, August 14th. Moffett Nathanson reiterated a “buy” rating and issued a $40.00 target price on shares of Cinemark in a report on Thursday, July 30th. B. Riley Financial increased their price target on shares of Cinemark from $35.00 to $37.00 and gave the company a “neutral” rating in a research report on Friday, July 31st. Finally, Wall Street Zen cut shares of Cinemark from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 29th. Nine equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $37.93.

Cinemark Stock Performance

Shares of NYSE:CNK opened at $34.98 on Wednesday. The company has a market capitalization of $4.05 billion, a price-to-earnings ratio of 20.70 and a beta of 0.98. Cinemark has a 52 week low of $21.60 and a 52 week high of $38.98. The company has a quick ratio of 0.81, a current ratio of 0.84 and a debt-to-equity ratio of 3.87. The firm has a 50 day moving average of $34.25 and a 200 day moving average of $30.66.

Cinemark (NYSE:CNK) last posted its earnings results on Thursday, July 30th. The company reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $1.03 billion. During the same quarter in the prior year, the business earned $0.63 earnings per share. Cinemark’s revenue was up 15.5% on a year-over-year basis. On average, sell-side analysts predict that Cinemark will post 2.36 earnings per share for the current fiscal year.

Cinemark Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Wednesday, August 26th will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.0%. The ex-dividend date is Wednesday, August 26th. Cinemark’s payout ratio is 21.30%.

Institutional Investors Weigh In On Cinemark

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC grew 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 acquiring an additional 507 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of Cinemark in the 2nd quarter valued at approximately $32,000. Leonteq Securities AG acquired a new stake in Cinemark in the 4th quarter worth approximately $83,000. Nykredit A S acquired a new stake in Cinemark in the 2nd quarter worth approximately $135,000. Finally, KBC Group NV grew its position in Cinemark by 56.9% during the 1st quarter. KBC Group NV now owns 4,334 shares of the company’s stock worth $124,000 after purchasing an additional 1,572 shares during the last quarter.

Cinemark Company Profile

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.