Cinemark Holdings Inc (NYSE:CNK) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Cinemark Holdings Inc (NYSE:CNK) have been given a consensus recommendation of “Moderate Buy” by the thirteen ratings firms that are currently covering the firm, MarketBeat reports. Six equities research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $34.5833.

A number of equities analysts recently commented on the stock. B. Riley Financial lowered their target price on shares of Cinemark from $36.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday, July 17th. The Goldman Sachs Group raised Cinemark from a “sell” rating to a “neutral” rating and increased their target price for the company from $23.00 to $30.00 in a report on Wednesday, July 8th. Benchmark raised their price target on Cinemark from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, June 17th. Barrington Research reaffirmed an “outperform” rating and set a $36.00 price target on shares of Cinemark in a report on Monday, May 4th. Finally, JPMorgan Chase & Co. upped their price objective on Cinemark from $35.00 to $36.00 and gave the stock an “overweight” rating in a research report on Monday, May 4th.

Cinemark Stock Down 0.1%

Shares of Cinemark stock opened at $32.67 on Monday. The company has a quick ratio of 0.58, a current ratio of 0.62 and a debt-to-equity ratio of 5.03. Cinemark has a 52-week low of $21.60 and a 52-week high of $34.73. The company has a market capitalization of $3.82 billion, a P/E ratio of 28.91 and a beta of 0.98. The company has a 50 day moving average of $30.71 and a 200 day moving average of $28.11.

Cinemark (NYSE:CNK) last announced its quarterly earnings data on Friday, May 1st. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). Cinemark had a net margin of 5.31% and a return on equity of 41.31%. The firm had revenue of $643.10 million during the quarter, compared to analysts’ expectations of $632.74 million. During the same period in the prior year, the company posted ($0.32) earnings per share. The company’s revenue for the quarter was up 18.9% on a year-over-year basis. As a group, research analysts forecast that Cinemark will post 2.14 EPS for the current fiscal year.

Cinemark Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Thursday, May 28th were paid a dividend of $0.09 per share. The ex-dividend date was Thursday, May 28th. This represents a $0.36 annualized dividend and a yield of 1.1%. Cinemark’s payout ratio is presently 31.86%.

Hedge Funds Weigh In On Cinemark

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC increased its stake in Cinemark by 118.5% in the second quarter. EverSource Wealth Advisors LLC now owns 935 shares of the company’s stock valued at $28,000 after purchasing an additional 507 shares during the last quarter. Leonteq Securities AG purchased a new stake in shares of Cinemark during the 4th quarter worth approximately $83,000. GAMMA Investing LLC lifted its position in shares of 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 buying an additional 1,372 shares during the last quarter. Kestra Advisory Services LLC acquired a new position in shares of Cinemark in the 4th quarter valued at $102,000. Finally, Bayforest Capital Ltd acquired a new position in shares of Cinemark in the 4th quarter valued at $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.