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

Cinemark Holdings Inc (NYSE:CNK) has received a consensus rating of “Moderate Buy” from the twelve ratings firms that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and ten have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $33.6667.

A number of brokerages have recently weighed in on CNK. Wall Street Zen raised Cinemark from a “sell” rating to a “hold” rating in a research note on Sunday, August 10th. B. Riley began coverage on Cinemark in a research note on Friday, May 16th. They issued a “neutral” rating and a $35.00 price objective for the company. Roth Capital dropped their price objective on Cinemark from $36.00 to $34.00 and set a “buy” rating for the company in a research note on Monday, August 4th. Wedbush raised Cinemark from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $32.00 to $37.00 in a research note on Friday, July 11th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $36.00 price objective on shares of Cinemark in a research note on Monday, August 4th.

Insider Buying and Selling at Cinemark

In other Cinemark news, insider Valmir Fernandes sold 25,000 shares of Cinemark stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $33.01, for a total transaction of $825,250.00. Following the completion of the sale, the insider directly owned 130,612 shares of the company’s stock, valued at $4,311,502.12. The trade was a 16.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Wanda Marie Gierhart sold 52,524 shares of Cinemark stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $31.85, for a total value of $1,672,889.40. Following the sale, the insider directly owned 94,890 shares of the company’s stock, valued at $3,022,246.50. This trade represents a 35.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.10% of the company’s stock.

Institutional Trading of Cinemark

Institutional investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC lifted its holdings in shares of Cinemark by 118.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 935 shares of the company’s stock valued at $28,000 after purchasing an additional 507 shares during the last quarter. QRG Capital Management Inc. lifted its holdings in shares of Cinemark by 3.2% in the 2nd quarter. QRG Capital Management Inc. now owns 16,894 shares of the company’s stock valued at $510,000 after purchasing an additional 521 shares during the last quarter. LPL Financial LLC lifted its holdings in shares of Cinemark by 6.8% in the 4th quarter. LPL Financial LLC now owns 8,722 shares of the company’s stock valued at $270,000 after purchasing an additional 556 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its holdings in shares of Cinemark by 3.8% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 16,270 shares of the company’s stock valued at $504,000 after purchasing an additional 591 shares during the last quarter. Finally, Summit Investment Advisors Inc. lifted its holdings in shares of Cinemark by 5.7% in the 4th quarter. Summit Investment Advisors Inc. now owns 11,546 shares of the company’s stock valued at $358,000 after purchasing an additional 618 shares during the last quarter.

Cinemark Price Performance

CNK stock opened at $25.66 on Monday. The business has a fifty day moving average of $29.22 and a two-hundred day moving average of $28.81. The company has a quick ratio of 0.88, a current ratio of 0.91 and a debt-to-equity ratio of 4.32. The stock has a market cap of $2.95 billion, a price-to-earnings ratio of 14.02, a price-to-earnings-growth ratio of 1.81 and a beta of 1.90. Cinemark has a 52-week low of $23.12 and a 52-week high of $36.28.

Cinemark (NYSE:CNK) last issued its quarterly earnings data on Friday, August 1st. The company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.15). Cinemark had a net margin of 9.13% and a return on equity of 59.16%. The firm had revenue of $940.50 million during the quarter, compared to analyst estimates of $942.14 million. During the same period in the previous year, the firm posted $0.32 earnings per share. The company’s quarterly revenue was up 28.1% compared to the same quarter last year. As a group, research analysts anticipate that Cinemark will post 1.93 earnings per share for the current year.

Cinemark Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Wednesday, August 27th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Wednesday, August 27th. Cinemark’s payout ratio is presently 17.49%.

About Cinemark

Cinemark Holdings, Inc, together with its subsidiaries, engages in the motion picture exhibition business. As of February 16, 2024, it operated 501 theatres with 5,719 screens in 42 states and 13 countries in South and Central America. Cinemark Holdings, Inc was founded in 1984 and is headquartered in Plano, Texas.