Cinemark (NYSE:CNK) Reaches New 12-Month High – Should You Buy?

Shares of Cinemark Holdings Inc (NYSE:CNK) reached a new 52-week high on Tuesday. The company traded as high as $41.67 and last traded at $41.49, with a volume of 891,503 shares. The stock had previously closed at $40.89.

Analysts Set New Price Targets

Several brokerages recently weighed in on CNK. Roth Capital reiterated a “buy” rating and issued a $45.00 price objective on shares of Cinemark in a research report on Friday, October 23rd. Zacks Research upgraded shares of Cinemark from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 13th. Moffett Nathanson restated a “buy” rating and issued a $40.00 target price on shares of Cinemark in a research report on Thursday, July 30th. Benchmark raised their price target on shares of Cinemark from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Finally, Morgan Stanley lifted their price target on Cinemark from $40.00 to $45.00 and gave the company an “equal weight” rating in a report on Monday, November 2nd. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $39.57.

Cinemark Stock Performance

The company has a market cap of $4.79 billion, a P/E ratio of 17.75 and a beta of 1.07. The company has a 50 day moving average price of $37.48 and a 200-day moving average price of $31.91. The company has a quick ratio of 0.91, a current ratio of 0.94 and a debt-to-equity ratio of 3.13.

Cinemark (NYSE:CNK) last issued its quarterly earnings results on Tuesday, November 3rd. The company reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.06. Cinemark had a return on equity of 60.04% and a net margin of 8.13%. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same period last year, the company earned $0.40 earnings per share. The company’s quarterly revenue was up 23.5% compared to the same quarter last year. Equities analysts expect that Cinemark Holdings Inc will post 2.75 EPS for the current fiscal year.

Hedge Funds Weigh In On Cinemark

Several large investors have recently bought and sold shares of the stock. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in shares of Cinemark by 9.4% in the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 269,589 shares of the company’s stock valued at $10,056,000 after acquiring an additional 23,092 shares in the last quarter. Ieq Capital LLC raised its holdings in Cinemark by 86.8% during the third quarter. Ieq Capital LLC now owns 41,345 shares of the company’s stock worth $1,542,000 after purchasing an additional 19,210 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in Cinemark during the third quarter worth approximately $92,000. Voya Investment Management LLC raised its holdings in Cinemark by 40.3% during the third quarter. Voya Investment Management LLC now owns 28,138 shares of the company’s stock worth $1,050,000 after purchasing an additional 8,086 shares in the last quarter. Finally, Public Sector Pension Investment Board lifted its position in Cinemark by 66.5% in the third quarter. Public Sector Pension Investment Board now owns 588,623 shares of the company’s stock worth $22,424,000 after purchasing an additional 235,188 shares during the period.

About Cinemark

Cinemark Holdings, Inc. operates movie theaters in the United States and Latin America. Its theaters screen feature films and offer related entertainment experiences, including premium large-format presentations and in-theater amenities. The company operates under brands including Cinemark, Century Theatres and Tinseltown. Its services include concessions, advertising, private events and its Cinemark Movie Club subscription program. Cinemark traces its roots to 1984 and is headquartered in Plano, Texas.