Cinemark (CNK) Upgraded to Neutral by Moffett Nathanson

Moffett Nathanson upgraded shares of Cinemark (NYSE:CNK) from a sell rating to a neutral rating in a research report sent to investors on Thursday morning, Marketbeat Ratings reports. Moffett Nathanson currently has $35.00 price objective on the stock.

Other equities analysts have also issued reports about the stock. Wedbush set a $38.00 price target on shares of Cinemark and gave the stock a buy rating in a research report on Monday, January 8th. Piper Jaffray set a $47.00 price target on shares of Cinemark and gave the stock a buy rating in a research report on Friday, February 23rd. Barrington Research restated a buy rating and set a $49.00 price target on shares of Cinemark in a research report on Friday, March 2nd. MKM Partners lowered their price target on shares of Cinemark to $44.00 and set a buy rating on the stock in a research report on Wednesday, January 24th. Finally, B. Riley restated a buy rating and set a $42.50 price target (down from $47.00) on shares of Cinemark in a research report on Monday, January 22nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the stock. Cinemark presently has an average rating of Hold and an average target price of $41.71.

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Shares of NYSE CNK traded down $0.03 during trading on Thursday, hitting $39.19. The company had a trading volume of 1,544,867 shares, compared to its average volume of 1,428,154. Cinemark has a fifty-two week low of $32.03 and a fifty-two week high of $44.74. The firm has a market cap of $4,428.24, a price-to-earnings ratio of 17.35, a price-to-earnings-growth ratio of 1.07 and a beta of 0.99. The company has a quick ratio of 1.37, a current ratio of 1.40 and a debt-to-equity ratio of 1.45.

Cinemark (NYSE:CNK) last posted its quarterly earnings results on Friday, February 23rd. The company reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.35. The firm had revenue of $750.00 million for the quarter, compared to analyst estimates of $745.92 million. Cinemark had a net margin of 8.83% and a return on equity of 19.48%. Cinemark’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.66 earnings per share. equities research analysts anticipate that Cinemark will post 2.37 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, March 22nd. Shareholders of record on Thursday, March 8th were paid a dividend of $0.32 per share. The ex-dividend date of this dividend was Wednesday, March 7th. This is an increase from Cinemark’s previous quarterly dividend of $0.29. This represents a $1.28 dividend on an annualized basis and a yield of 3.27%. Cinemark’s payout ratio is 56.64%.

In other Cinemark news, insider Valmir Fernandes sold 6,000 shares of Cinemark stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $43.59, for a total transaction of $261,540.00. Following the transaction, the insider now directly owns 103,582 shares of the company’s stock, valued at $4,515,139.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 9.20% of the stock is owned by insiders.

Hedge funds have recently modified their holdings of the business. Cerebellum GP LLC purchased a new position in Cinemark during the fourth quarter worth about $118,000. Zions Bancorporation purchased a new position in Cinemark during the third quarter worth about $125,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Cinemark by 54.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,862 shares of the company’s stock worth $204,000 after purchasing an additional 2,070 shares during the period. State of Alaska Department of Revenue purchased a new position in Cinemark during the fourth quarter worth about $219,000. Finally, Amundi Pioneer Asset Management Inc. purchased a new position in Cinemark during the fourth quarter worth about $228,000. 93.97% of the stock is currently owned by institutional investors.

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Cinemark Company Profile

Cinemark Holdings, Inc, together with its subsidiaries, engages in the motion picture exhibition business. It operates theatres in the United States, Brazil, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Bolivia, Curacao, and Paraguay. As of December 31, 2017, the company operated 533 theatres and 5,959 screens.

Analyst Recommendations for Cinemark (NYSE:CNK)

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