Cinemark Holdings Inc (NYSE:CNK – Get Free Report)’s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $34.76 and last traded at $34.8180, with a volume of 486947 shares changing hands. The stock had previously closed at $33.66.
Wall Street Analyst Weigh In
Several research analysts recently weighed in on CNK shares. Zacks Research lowered Cinemark from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 2nd. Weiss Ratings reissued a “hold (c)” rating on shares of Cinemark in a research report on Wednesday, June 24th. Guggenheim set a $37.00 price target on shares of Cinemark in a research report on Thursday, July 2nd. Morgan Stanley increased their price objective on shares of Cinemark from $30.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Tuesday, June 9th. Finally, B. Riley Financial decreased their price target on shares of Cinemark from $36.00 to $35.00 and set a “neutral” rating for the company in a research report on Friday, July 17th. Seven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.58.
Check Out Our Latest Analysis on Cinemark
Cinemark Stock Up 3.5%
Cinemark (NYSE:CNK – Get Free Report) last released its quarterly earnings data on Friday, May 1st. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). Cinemark had a return on equity of 41.31% and a net margin of 5.31%.The firm had revenue of $643.10 million during the quarter, compared to analyst estimates of $632.74 million. During the same period last year, the business earned ($0.32) EPS. The firm’s revenue was up 18.9% on a year-over-year basis. On average, research analysts anticipate that Cinemark Holdings Inc will post 2.14 earnings per share for the current year.
Cinemark Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Thursday, May 28th were paid a dividend of $0.09 per share. The ex-dividend date of this dividend was Thursday, May 28th. This represents a $0.36 annualized dividend and a dividend yield of 1.0%. Cinemark’s dividend payout ratio (DPR) is currently 31.86%.
Hedge Funds Weigh In On Cinemark
A number of institutional investors have recently bought and sold shares of CNK. Lavaca Capital LLC acquired a new position in shares of Cinemark in the fourth quarter worth about $133,045,000. Orbis Allan Gray Ltd raised its stake in Cinemark by 31.0% during the 4th quarter. Orbis Allan Gray Ltd now owns 15,057,911 shares of the company’s stock valued at $349,946,000 after purchasing an additional 3,563,810 shares during the period. Alyeska Investment Group L.P. purchased a new position in shares of Cinemark during the fourth quarter valued at $55,296,000. Victory Capital Management Inc. raised its position in Cinemark by 12,759.3% during the fourth quarter. Victory Capital Management Inc. now owns 2,026,245 shares of the company’s stock valued at $47,090,000 after buying an additional 2,010,488 shares during the period. Finally, Woodline Partners LP purchased a new stake in Cinemark in the 3rd quarter worth about $33,390,000.
Cinemark Company Profile
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.
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