Cinemark Holdings Inc (NYSE:CNK) Stock Has Average Target Price of $37.93

Cinemark Holdings Inc (NYSE:CNK) has received a consensus recommendation of “Moderate Buy” from the fifteen ratings firms that are presently covering the stock, Marketbeat reports. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $37.93.

CNK has been the subject of several recent analyst reports. Barrington Research set a $42.00 price objective on shares of Cinemark in a research report on Thursday, July 30th. Weiss Ratings raised shares of Cinemark from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday. JPMorgan Chase & Co. lowered shares of Cinemark from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $40.00 to $39.00 in a research note on Friday, August 14th. Zacks Research downgraded shares of Cinemark from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 2nd. Finally, Guggenheim set a $37.00 target price on shares of Cinemark in a research note on Thursday, July 2nd.

Hedge Funds Weigh In On Cinemark

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio bought a new stake in Cinemark in the 2nd quarter valued at about $32,000. Integrated Wealth Concepts LLC bought a new position in Cinemark in the second quarter worth approximately $60,000. KBC Group NV grew its stake in Cinemark by 56.9% in the first quarter. KBC Group NV now owns 4,334 shares of the company’s stock valued at $124,000 after acquiring an additional 1,572 shares during the period. Nykredit A S acquired a new stake in Cinemark in the second quarter valued at approximately $135,000. Finally, GAMMA Investing LLC increased its holdings in shares of Cinemark by 10.2% during the second quarter. GAMMA Investing LLC now owns 4,982 shares of the company’s stock valued at $158,000 after acquiring an additional 462 shares in the last quarter.

Cinemark Stock Performance

Shares of CNK stock opened at $36.37 on Friday. The business’s 50 day simple moving average is $36.39 and its 200 day simple moving average is $32.30. Cinemark has a one year low of $21.60 and a one year high of $39.07. The stock has a market capitalization of $4.22 billion, a PE ratio of 21.52 and a beta of 1.03. The company has a debt-to-equity ratio of 3.87, a current ratio of 0.84 and a quick ratio of 0.81.

Cinemark (NYSE:CNK) last released its earnings results on Thursday, July 30th. The company reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.03 by $0.16. Cinemark had a net margin of 6.44% and a return on equity of 50.94%. The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.03 billion. The company’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.63 EPS. As a group, research analysts forecast that Cinemark will post 2.51 earnings per share for the current year.

Cinemark Dividend Announcement

The business also recently disclosed 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. The ex-dividend date was Wednesday, August 26th. This represents a $0.36 annualized dividend and a dividend yield of 1.0%. Cinemark’s dividend payout ratio is currently 21.30%.

About Cinemark

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.