Cinemark Holdings Inc (NYSE:CNK) Receives $34.46 Consensus Target Price from Analysts

Cinemark Holdings Inc (NYSE:CNK) has received a consensus rating of “Moderate Buy” from the fifteen analysts that are covering the firm, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $35.2143.

CNK has been the topic of several recent analyst reports. JPMorgan Chase & Co. upped their target price on Cinemark from $35.00 to $36.00 and gave the company an “overweight” rating in a research report on Monday, May 4th. Guggenheim set a $37.00 price target on Cinemark in a research note on Thursday, July 2nd. Morgan Stanley upped their price objective on shares of Cinemark from $30.00 to $36.00 and gave the company an “equal weight” rating in a report on Tuesday, June 9th. Zacks Research lowered shares of Cinemark from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 2nd. Finally, Barrington Research reiterated an “outperform” rating and issued a $36.00 target price on shares of Cinemark in a research note on Monday, May 4th.

Cinemark Price Performance

NYSE CNK opened at $29.67 on Thursday. The firm’s fifty day simple moving average is $29.92 and its two-hundred day simple moving average is $27.45. The firm has a market capitalization of $3.47 billion, a P/E ratio of 26.26 and a beta of 0.98. The company has a current ratio of 0.62, a quick ratio of 0.58 and a debt-to-equity ratio of 5.03. Cinemark has a 12-month low of $21.60 and a 12-month high of $34.73.

Cinemark (NYSE:CNK) last issued its quarterly earnings data on Friday, May 1st. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The business had revenue of $643.10 million for the quarter, compared to analysts’ expectations of $632.74 million. Cinemark had a net margin of 5.31% and a return on equity of 41.31%. The business’s revenue for the quarter was up 18.9% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.32) EPS. Analysts forecast that Cinemark will post 2.18 EPS for the current fiscal year.

Cinemark Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Thursday, May 28th were issued a $0.09 dividend. The ex-dividend date of this dividend was Thursday, May 28th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.2%. Cinemark’s dividend payout ratio (DPR) is currently 31.86%.

Institutional Investors Weigh In On Cinemark

Institutional investors and hedge funds have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC increased its position in shares of Cinemark by 118.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 935 shares of the company’s stock valued at $28,000 after acquiring an additional 507 shares during the period. Leonteq Securities AG purchased a new position in Cinemark in the 4th quarter worth $83,000. GAMMA Investing LLC lifted its position in Cinemark by 51.8% during the 4th quarter. GAMMA Investing LLC now owns 4,022 shares of the company’s stock worth $93,000 after acquiring an additional 1,372 shares during the period. Kestra Advisory Services LLC acquired a new stake in Cinemark during the 4th quarter worth about $102,000. Finally, Bayforest Capital Ltd purchased a new stake in Cinemark during the 4th quarter valued at about $121,000.

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.