Cinemark (NYSE:CNK) Downgraded by Zacks Research to “Hold”

Zacks Research lowered shares of Cinemark (NYSE:CNK) from a strong-buy rating to a hold rating in a research note published on Tuesday,Zacks.com reports.

CNK has been the subject of a number of other research reports. B. Riley Financial reaffirmed a “neutral” rating on shares of Cinemark in a report on Friday, April 17th. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $22.00 price objective on shares of Cinemark in a report on Thursday, February 19th. Wall Street Zen raised shares of Cinemark from a “hold” rating to a “buy” rating in a report on Sunday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cinemark in a report on Friday, March 27th. Finally, Barrington Research reiterated an “outperform” rating and issued a $36.00 target price on shares of Cinemark in a research report on Monday, May 4th. Ten equities research 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, the stock currently has an average rating of “Moderate Buy” and an average target price of $33.31.

Cinemark Stock Down 2.7%

CNK opened at $29.78 on Tuesday. Cinemark has a fifty-two week low of $21.60 and a fifty-two week high of $32.95. The company has a debt-to-equity ratio of 5.03, a quick ratio of 0.58 and a current ratio of 0.62. The company has a fifty day moving average of $28.40 and a two-hundred day moving average of $26.37. The stock has a market capitalization of $3.48 billion, a price-to-earnings ratio of 26.35 and a beta of 1.00.

Cinemark (NYSE:CNK) last released its quarterly earnings data on Friday, May 1st. The company reported ($0.06) earnings per share 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 previous year, the firm posted ($0.32) EPS. The firm’s quarterly revenue was up 18.9% on a year-over-year basis. On average, research analysts expect that Cinemark will post 2.11 earnings per share for the current year.

Cinemark Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 11th. Stockholders of record on Thursday, May 28th will be given a $0.09 dividend. The ex-dividend date is Thursday, May 28th. This represents a $0.36 annualized dividend and a dividend yield of 1.2%. Cinemark’s dividend payout ratio (DPR) is 31.86%.

Institutional Trading of Cinemark

Several institutional investors have recently modified their holdings of the stock. Orbis Allan Gray Ltd grew its position in shares of Cinemark by 31.0% in the fourth quarter. Orbis Allan Gray Ltd now owns 15,057,911 shares of the company’s stock valued at $349,946,000 after purchasing an additional 3,563,810 shares during the period. Wellington Management Group LLP grew its position in shares of Cinemark by 8.4% in the fourth quarter. Wellington Management Group LLP now owns 9,536,900 shares of the company’s stock valued at $221,638,000 after purchasing an additional 742,307 shares during the period. Lavaca Capital LLC acquired a new stake in shares of Cinemark in the fourth quarter valued at about $133,045,000. State Street Corp grew its position in shares of Cinemark by 1.5% in the fourth quarter. State Street Corp now owns 3,950,606 shares of the company’s stock valued at $91,812,000 after purchasing an additional 60,176 shares during the period. Finally, Alyeska Investment Group L.P. acquired a new position in Cinemark during the fourth quarter worth about $55,296,000.

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.