Cinemark Holdings Inc (NYSE:CNK) Receives $37.93 Consensus PT from Brokerages

Shares of Cinemark Holdings Inc (NYSE:CNK) have earned a consensus rating of “Moderate Buy” from the fifteen research firms that are covering the stock, MarketBeat.com reports. Six research analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $37.9286.

CNK has been the subject of several recent research reports. JPMorgan Chase & Co. downgraded shares of Cinemark from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $40.00 to $39.00 in a research note on Friday, August 14th. Zacks Research cut shares of Cinemark from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 2nd. Benchmark raised their price objective on shares of Cinemark from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Weiss Ratings upgraded shares of Cinemark from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, August 21st. Finally, Roth Capital set a $40.00 target price on shares of Cinemark in a report on Thursday, July 30th.

Cinemark Stock Up 3.4%

CNK stock opened at $36.18 on Tuesday. The stock has a fifty day moving average of $35.26 and a 200-day moving average of $31.37. Cinemark has a fifty-two week low of $21.60 and a fifty-two week high of $38.98. The company has a market capitalization of $4.19 billion, a price-to-earnings ratio of 21.41 and a beta of 0.98. The company has a debt-to-equity ratio of 3.87, a quick ratio of 0.81 and a current ratio of 0.84.

Cinemark (NYSE:CNK) last announced its quarterly earnings data on Thursday, July 30th. The company reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.16. The business had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Cinemark had a return on equity of 50.94% and a net margin of 6.44%.The firm’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.63 EPS. As a group, equities research analysts predict that Cinemark will post 2.41 earnings per share for the current year.

Cinemark Dividend Announcement

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

Institutional Investors Weigh In On Cinemark

Hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. bought a new position in shares of Cinemark in the second quarter valued at approximately $530,855,000. Park West Asset Management LLC bought a new stake in Cinemark during the 2nd quarter worth approximately $40,707,000. Northwestern Mutual Wealth Management Co. lifted its stake in Cinemark by 5,472,594.7% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,039,812 shares of the company’s stock worth $24,165,000 after purchasing an additional 1,039,793 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in Cinemark in the 2nd quarter worth approximately $29,387,000. Finally, Bank of America Corp DE boosted its holdings in Cinemark by 115.1% in the 1st quarter. Bank of America Corp DE now owns 831,389 shares of the company’s stock valued at $23,711,000 after purchasing an additional 444,965 shares during the period.

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.