Cinemark (NYSE:CNK) Hits New 1-Year High – What’s Next?

Cinemark Holdings Inc (NYSE:CNK)’s share price hit a new 52-week high during trading on Monday . The stock traded as high as $34.73 and last traded at $34.1110, with a volume of 104102 shares trading hands. The stock had previously closed at $33.76.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on CNK shares. Barrington Research restated an “outperform” rating and issued a $36.00 price target on shares of Cinemark in a research report on Monday, May 4th. Weiss Ratings reiterated a “hold (c)” rating on shares of Cinemark in a report on Friday, March 27th. JPMorgan Chase & Co. increased their target price on Cinemark from $35.00 to $36.00 and gave the company an “overweight” rating in a research note on Monday, May 4th. Wall Street Zen upgraded Cinemark from a “hold” rating to a “buy” rating in a report on Sunday, May 31st. Finally, Benchmark boosted their target price on Cinemark from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, June 17th. Ten investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Cinemark presently has a consensus rating of “Moderate Buy” and an average price target of $34.46.

Cinemark Trading Up 1.9%

The company’s fifty day simple moving average is $29.35 and its two-hundred day simple moving average is $26.71. The company has a market capitalization of $4.02 billion, a price-to-earnings ratio of 30.41 and a beta of 1.00. 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 (NYSE:CNK) last posted its earnings results on Friday, May 1st. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The business 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 period in the previous year, the firm posted ($0.32) earnings per share. Research analysts forecast that Cinemark Holdings Inc will post 2.18 earnings per share for the current fiscal year.

Cinemark Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Thursday, May 28th were given a $0.09 dividend. The ex-dividend date was Thursday, May 28th. This represents a $0.36 annualized dividend and a dividend yield of 1.0%. Cinemark’s payout ratio is currently 31.86%.

Institutional Trading of Cinemark

Several hedge funds have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC boosted its holdings in shares of 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 buying an additional 507 shares during the period. Leonteq Securities AG acquired a new stake in shares of Cinemark during the fourth quarter worth $83,000. GAMMA Investing LLC lifted its position in Cinemark by 51.8% in the 4th quarter. GAMMA Investing LLC now owns 4,022 shares of the company’s stock valued at $93,000 after acquiring an additional 1,372 shares in the last quarter. Kestra Advisory Services LLC acquired a new position in Cinemark in the 4th quarter worth $102,000. Finally, Bayforest Capital Ltd acquired a new position in Cinemark in the 4th quarter worth $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.