Cinemark (NYSE:CNK) Shares Down 5.3% – Should You Sell?

Cinemark Holdings Inc (NYSE:CNK) shares dropped 5.3% during trading on Monday . The stock traded as low as $29.84 and last traded at $29.8570. Approximately 170,308 shares were traded during trading, a decline of 93% from the average session volume of 2,334,067 shares. The stock had previously closed at $31.53.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company lifted their price objective on Cinemark from $32.00 to $36.00 and gave the company an “overweight” rating in a research note on Thursday, April 9th. Barrington Research restated an “outperform” rating and set a $36.00 target price on shares of Cinemark in a report on Monday, May 4th. Benchmark lifted their target price on Cinemark from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, June 17th. B. Riley Financial boosted their price target on shares of Cinemark from $34.00 to $36.00 and gave the stock a “neutral” rating in a research note on Thursday, June 11th. Finally, Zacks Research cut shares of Cinemark from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 2nd. Ten analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $34.64.

Cinemark Trading Down 1.9%

The company’s 50 day simple moving average is $29.92 and its 200 day simple moving average is $27.40. The company has a debt-to-equity ratio of 5.03, a current ratio of 0.62 and a quick ratio of 0.58. The firm has a market cap of $3.43 billion, a price-to-earnings ratio of 26.01 and a beta of 0.98.

Cinemark (NYSE:CNK) last announced its quarterly earnings data on Friday, May 1st. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The company had revenue of $643.10 million during the quarter, compared to analyst estimates of $632.74 million. Cinemark had a net margin of 5.31% and a return on equity of 41.31%. The firm’s revenue was up 18.9% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.32) earnings per share. As a group, research analysts expect that Cinemark Holdings Inc will post 2.18 earnings per share for the current fiscal 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 $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Thursday, May 28th. Cinemark’s dividend payout ratio (DPR) is presently 31.86%.

Institutional Trading of Cinemark

A number of large investors have recently made changes to their positions in CNK. GAMMA Investing LLC lifted its stake in Cinemark by 10.2% in the second quarter. GAMMA Investing LLC now owns 4,982 shares of the company’s stock worth $158,000 after acquiring an additional 462 shares during the last quarter. Bank of America Corp DE increased its position in shares of 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 last quarter. Janus Henderson Group PLC increased its position in shares of Cinemark by 53.2% in the 1st quarter. Janus Henderson Group PLC now owns 376,632 shares of the company’s stock valued at $10,742,000 after purchasing an additional 130,785 shares during the last quarter. Amundi raised its holdings in shares of Cinemark by 64.8% in the 1st quarter. Amundi now owns 18,212 shares of the company’s stock valued at $519,000 after purchasing an additional 7,161 shares in the last quarter. Finally, California State Teachers Retirement System lifted its position in shares of Cinemark by 25.3% during the 1st quarter. California State Teachers Retirement System now owns 121,664 shares of the company’s stock worth $3,470,000 after purchasing an additional 24,543 shares during the last quarter.

About Cinemark

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.