Cinemark Holdings Inc (NYSE:CNK) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Cinemark Holdings Inc (NYSE:CNK) have been assigned an average recommendation of “Moderate Buy” from the twelve brokerages that are covering the stock, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $34.7273.

Several equities research analysts recently weighed in on the company. UBS Group set a $35.00 price objective on Cinemark in a report on Wednesday, December 10th. JPMorgan Chase & Co. cut their target price on shares of Cinemark from $38.00 to $37.00 and set an “overweight” rating for the company in a research report on Thursday, November 6th. Morgan Stanley reiterated an “equal weight” rating and issued a $28.00 target price (down previously from $35.00) on shares of Cinemark in a research note on Thursday, December 18th. Barrington Research reissued an “outperform” rating and issued a $36.00 price target on shares of Cinemark in a research report on Tuesday, September 23rd. Finally, Roth Capital reaffirmed a “buy” rating and issued a $35.00 price objective on shares of Cinemark in a report on Wednesday, November 5th.

Insider Activity

In related news, EVP Melissa Thomas sold 22,082 shares of the stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $24.81, for a total transaction of $547,854.42. Following the sale, the executive vice president owned 167,360 shares of the company’s stock, valued at approximately $4,152,201.60. This represents a 11.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On Cinemark

Institutional investors and hedge funds have recently modified their holdings of the company. EverSource Wealth Advisors LLC boosted its position in shares of Cinemark by 118.5% in the second quarter. EverSource Wealth Advisors LLC now owns 935 shares of the company’s stock valued at $28,000 after acquiring an additional 507 shares during the period. Elevation Point Wealth Partners LLC bought a new position in Cinemark in the 2nd quarter valued at $47,000. Financial Consulate Inc. purchased a new position in shares of Cinemark during the 3rd quarter valued at $50,000. Meeder Asset Management Inc. bought a new position in shares of Cinemark in the third quarter worth $63,000. Finally, Smartleaf Asset Management LLC raised its position in shares of Cinemark by 20.1% in the third quarter. Smartleaf Asset Management LLC now owns 3,027 shares of the company’s stock worth $83,000 after buying an additional 506 shares in the last quarter.

Cinemark Stock Up 6.2%

Cinemark stock opened at $23.86 on Thursday. The company has a quick ratio of 0.72, a current ratio of 0.76 and a debt-to-equity ratio of 5.01. The company has a market capitalization of $2.80 billion, a P/E ratio of 22.94, a P/E/G ratio of 2.23 and a beta of 1.10. The firm has a 50 day moving average price of $25.52 and a 200-day moving average price of $26.77. Cinemark has a twelve month low of $21.60 and a twelve month high of $34.01.

Cinemark (NYSE:CNK) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.40 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.04). Cinemark had a net margin of 4.93% and a return on equity of 34.33%. The firm had revenue of $857.50 million during the quarter, compared to analysts’ expectations of $851.47 million. During the same quarter in the previous year, the company posted $1.19 EPS. Cinemark’s revenue for the quarter was down 7.0% on a year-over-year basis. As a group, equities analysts predict that Cinemark will post 1.93 EPS for the current year.

Cinemark Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 12th. Stockholders of record on Friday, November 28th were issued a $0.09 dividend. The ex-dividend date of this dividend was Friday, November 28th. This is an increase from Cinemark’s previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.5%. Cinemark’s dividend payout ratio is 34.62%.

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.