Cinemark (NYSE:CNK) Upgraded to “Strong-Buy” at Zacks Research

Zacks Research upgraded shares of Cinemark (NYSE:CNK) from a hold rating to a strong-buy rating in a report published on Tuesday,Zacks reports.

Several other research firms have also recently commented on CNK. The Goldman Sachs Group raised Cinemark from a “sell” rating to a “neutral” rating and increased their price objective for the company from $23.00 to $30.00 in a research report on Wednesday, July 8th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $40.00 target price on shares of Cinemark in a research report on Friday, July 31st. Wall Street Zen cut shares of Cinemark from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 29th. Roth Capital set a $40.00 target price on shares of Cinemark in a research note on Thursday, July 30th. Finally, Wells Fargo & Company raised their price target on shares of Cinemark from $31.00 to $34.00 and gave the company an “equal weight” rating in a report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $37.93.

Cinemark Stock Performance

CNK stock opened at $38.15 on Tuesday. The stock has a market capitalization of $4.42 billion, a PE ratio of 22.57 and a beta of 1.03. Cinemark has a 12-month low of $21.60 and a 12-month high of $39.07. The company has a current ratio of 0.84, a quick ratio of 0.81 and a debt-to-equity ratio of 3.87. The stock’s 50 day simple moving average is $36.38 and its 200 day simple moving average is $32.54.

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 business had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same period last year, the business posted $0.63 EPS. The company’s revenue was up 15.5% compared to the same quarter last year. As a group, research analysts forecast that Cinemark will post 2.49 earnings per share for the current fiscal year.

Cinemark Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 9th. Stockholders of record on Wednesday, August 26th were issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Wednesday, August 26th. Cinemark’s dividend payout ratio is presently 21.30%.

Institutional Trading of Cinemark

Several large investors have recently modified their holdings of CNK. GAMMA Investing LLC increased its holdings in Cinemark by 7.8% during the third quarter. GAMMA Investing LLC now owns 5,371 shares of the company’s stock valued at $200,000 after buying an additional 389 shares during the last quarter. Sequoia Financial Advisors LLC bought a new position in Cinemark in the second quarter worth approximately $2,477,000. WINTON GROUP Ltd raised its position in Cinemark by 637.5% in the second quarter. WINTON GROUP Ltd now owns 117,527 shares of the company’s stock worth $3,729,000 after acquiring an additional 101,592 shares during the period. Engineers Gate Manager LP bought a new position in Cinemark in the second quarter worth approximately $3,671,000. Finally, Integrated Wealth Concepts LLC purchased a new position in shares of Cinemark during the 2nd quarter worth $60,000.

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 other regional theater brands, the company shows first-run films and provides audiences with large-format entertainment experiences.

Cinemark’s services include movie ticketing, food and beverage concessions, premium seating, and enhanced presentation formats such as its XD auditoriums. The company also offers customer loyalty programs, advertising opportunities, private theater rentals, and other event-based entertainment services.

Founded in 1987 by Lee Roy Mitchell, Cinemark is headquartered in Plano, Texas.