Cinemark (NYSE:CNK) Hits New 12-Month High – Still a Buy?

Cinemark Holdings Inc (NYSE:CNK – Get Free Report)’s stock price reached a new 52-week high on Monday. The stock traded as high as $38.99 and last traded at $38.6640, with a volume of 219235 shares changing hands. The stock had previously closed at $37.77.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CNK. Weiss Ratings upgraded Cinemark from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, August 21st. Morgan Stanley cut their price objective on shares of Cinemark from $42.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Thursday. Wells Fargo & Company increased their target price on shares of Cinemark from $31.00 to $34.00 and gave the company an “equal weight” rating in a research note on Friday, July 31st. JPMorgan Chase & Co. lowered shares of Cinemark from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $40.00 to $39.00 in a report on Friday, August 14th. Finally, Roth Capital set a $40.00 price target on shares of Cinemark in a research note on Thursday, July 30th. Nine investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Cinemark presently has an average rating of “Moderate Buy” and a consensus target price of $37.93.

View Our Latest Research Report on CNK

Cinemark Stock Performance

The company has a debt-to-equity ratio of 3.87, a current ratio of 0.84 and a quick ratio of 0.81. The firm has a fifty day moving average price of $35.80 and a two-hundred day moving average price of $31.61. The stock has a market capitalization of $4.43 billion, a PE ratio of 22.54 and a beta of 0.98.

Cinemark (NYSE:CNK – Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The company reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.16. Cinemark had a return on equity of 50.94% and a net margin of 6.44%.The firm had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same period last year, the company earned $0.63 EPS. Cinemark’s quarterly revenue was up 15.5% compared to the same quarter last year. Research analysts expect that Cinemark Holdings Inc will post 2.51 EPS for the current year.

Cinemark Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 9th. Shareholders of record on Wednesday, August 26th were paid a $0.09 dividend. The ex-dividend date was Wednesday, August 26th. This represents a $0.36 dividend on an annualized basis and a yield of 0.9%. Cinemark’s dividend payout ratio (DPR) is presently 21.30%.

Institutional Trading of Cinemark

A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. purchased a new position in Cinemark in the 2nd quarter worth about $530,855,000. Park West Asset Management LLC bought a new stake in Cinemark during the 2nd quarter valued at about $40,707,000. Bank of New York Mellon Corp purchased a new stake in Cinemark in the 2nd quarter valued at about $29,387,000. Bank of America Corp DE boosted its position in Cinemark by 115.1% in the 1st quarter. Bank of America Corp DE now owns 831,389 shares of the company’s stock valued at $23,711,000 after buying an additional 444,965 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Cinemark in the 2nd quarter valued at about $22,657,000.

Cinemark Company Profile

(Get Free Report)

Cinemark Holdings, Inc is a motion picture exhibition company that operates movie theaters in the United States and Latin America. Through its Cinemark and Century-branded locations, the company offers theatrical screenings of newly released films across a range of formats and venue types.

In addition to movie tickets, Cinemark generates revenue through food and beverage concessions, advertising, and premium entertainment experiences. Its offerings include luxury seating, large-format screens, and enhanced audio and visual presentations, along with online and mobile ticketing and the Movie Club customer loyalty program.

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

Further Reading

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