Cinemark (NYSE:CNK – Free Report) had its price target raised by Wedbush from $45.00 to $46.00 in a research report report published on Wednesday,Benzinga reports. The firm currently has an outperform rating on the stock.
A number of other equities research analysts have also commented on CNK. Wells Fargo & Company upped their price target on shares of Cinemark from $34.00 to $42.00 and gave the company an “equal weight” rating in a report on Wednesday. JPMorgan Chase & Co. raised their price target on shares of Cinemark from $39.00 to $41.00 and gave the stock a “neutral” rating in a report on Friday, October 23rd. Weiss Ratings upgraded shares of Cinemark from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Benchmark upped their price objective on shares of Cinemark from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Finally, Morgan Stanley upped their price objective on shares of Cinemark from $40.00 to $45.00 and gave the company an “equal weight” rating in a research note on Monday, November 2nd. One research 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 company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $39.57.
Check Out Our Latest Research Report on CNK
Cinemark Trading Down 2.9%
Cinemark stock traded down $1.15 during trading hours on Wednesday, reaching $38.89. The company had a trading volume of 2,758,098 shares, compared to its average volume of 1,805,463. 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 has a 12-month low of $21.60 and a 12-month high of $41.55. The company has a 50-day moving average price of $37.14 and a 200 day moving average price of $31.65. The firm has a market cap of $4.51 billion, a price-to-earnings ratio of 16.69 and a beta of 1.07.
Cinemark (NYSE:CNK – Get Free Report) last released its quarterly earnings data on Tuesday, November 3rd. The company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.06. Cinemark had a return on equity of 50.94% and a net margin of 6.44%. The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the prior year, the firm posted $0.40 earnings per share. The business’s quarterly revenue was up 23.5% compared to the same quarter last year. Equities analysts forecast that Cinemark will post 2.75 earnings per share for the current year.
Cinemark Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 9th. Investors of record on Wednesday, August 26th were paid a $0.09 dividend. The ex-dividend date of this dividend 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 15.45%.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its position in shares of Cinemark by 7.8% in the 3rd quarter. GAMMA Investing LLC now owns 5,371 shares of the company’s stock worth $200,000 after purchasing an additional 389 shares during the period. Gabelli Funds LLC increased its position in shares of Cinemark by 0.5% during the first quarter. Gabelli Funds LLC now owns 101,866 shares of the company’s stock valued at $2,905,000 after buying an additional 490 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of Cinemark by 5.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 10,636 shares of the company’s stock valued at $385,000 after buying an additional 585 shares during the period. Choreo LLC increased its position in shares of Cinemark by 10.9% during the third quarter. Choreo LLC now owns 7,061 shares of the company’s stock valued at $263,000 after buying an additional 693 shares during the period. Finally, PNC Financial Services Group Inc. raised its stake in Cinemark by 14.3% in the first quarter. PNC Financial Services Group Inc. now owns 7,613 shares of the company’s stock worth $217,000 after buying an additional 951 shares in the last quarter.
About Cinemark
Cinemark Holdings, Inc (NYSE: CNK) is a leading motion picture exhibition company that operates movie theaters in the United States and Latin America. Through its Cinemark and Century theater brands, the company provides audiences with theatrical entertainment, including first-run films, premium large-format presentations and enhanced viewing experiences.
Cinemark’s theaters generate revenue primarily through ticket sales and food and beverage concessions. Its offerings may include reserved seating, luxury reclining seats, Cinemark XD premium auditoriums, online and mobile ticketing, and loyalty programs such as Cinemark Movie Rewards.
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