Wall Street Zen downgraded shares of Cinemark (NYSE:CNK – Free Report) from a strong-buy rating to a buy rating in a research report released on Saturday,Wall Street Zen reports.
A number of other research analysts also recently commented on the stock. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $40.00 price objective on shares of Cinemark in a research report on Friday, July 31st. Wedbush boosted their price target on Cinemark from $45.00 to $46.00 and gave the stock an “outperform” rating in a research report on Wednesday. Weiss Ratings upgraded Cinemark from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. Roth Capital reaffirmed a “buy” rating and issued a $45.00 price objective on shares of Cinemark in a research report on Friday, October 23rd. Finally, Morgan Stanley lifted their target price on Cinemark from $40.00 to $45.00 and gave the stock 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 assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Cinemark presently has an average rating of “Moderate Buy” and an average price target of $39.57.
Read Our Latest Stock Report on Cinemark
Cinemark Trading Down 2.9%
Cinemark stock opened at $38.89 on Friday. The company has a market cap of $4.51 billion, a price-to-earnings ratio of 16.69 and a beta of 1.07. Cinemark has a one year low of $21.60 and a one year high of $41.55. The firm has a 50-day moving average of $37.14 and a 200-day moving average of $31.65. The company has a debt-to-equity ratio of 3.13, a current ratio of 0.94 and a quick ratio of 0.81.
Cinemark (NYSE:CNK – Get Free Report) last released its quarterly earnings data on Tuesday, November 3rd. The company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.98 by $0.06. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.04 billion. Cinemark had a return on equity of 60.04% and a net margin of 8.13%. The firm’s revenue for the quarter was up 23.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.40 EPS. On average, equities analysts expect that Cinemark will post 2.75 earnings per share for the current fiscal year.
Cinemark Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 9th. Shareholders of record on Wednesday, August 26th were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Wednesday, August 26th. Cinemark’s dividend payout ratio is currently 15.45%.
Institutional Investors Weigh In On Cinemark
Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. acquired a new position in shares of Cinemark in the second quarter valued at about $530,855,000. Park West Asset Management LLC acquired a new stake in Cinemark in the 2nd quarter worth about $40,707,000. Bank of New York Mellon Corp acquired a new stake in Cinemark in the 2nd quarter worth about $29,387,000. Bank of America Corp DE boosted its holdings 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 purchasing an additional 444,965 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in Cinemark in the 2nd quarter valued at about $22,657,000.
Cinemark Company Profile
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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