Cinemark (NYSE:CNK) had its price target lowered by MKM Partners from $45.00 to $43.00 in a report published on Tuesday, The Fly reports. The firm currently has a buy rating on the stock.
Several other research firms have also weighed in on CNK. Loop Capital upgraded shares of Cinemark from a hold rating to a buy rating and set a $44.00 price target for the company in a research report on Wednesday, July 3rd. Credit Suisse Group began coverage on shares of Cinemark in a research report on Friday, July 19th. They set an outperform rating and a $43.00 price target for the company. Wedbush restated a buy rating and set a $49.00 price target on shares of Cinemark in a research report on Friday, August 2nd. ValuEngine upgraded shares of Cinemark from a hold rating to a buy rating in a research report on Thursday, August 1st. Finally, Morgan Stanley reduced their price target on shares of Cinemark from $41.00 to $37.00 and set an equal weight rating for the company in a research report on Tuesday, July 23rd. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock currently has an average rating of Buy and an average target price of $44.00.
CNK opened at $38.92 on Tuesday. The firm has a market cap of $4.51 billion, a P/E ratio of 21.27, a PEG ratio of 1.10 and a beta of 0.70. The firm has a 50-day moving average of $38.55 and a 200 day moving average of $39.00. The company has a debt-to-equity ratio of 2.08, a quick ratio of 0.92 and a current ratio of 0.95. Cinemark has a fifty-two week low of $34.49 and a fifty-two week high of $43.51.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th will be issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 3.49%. The ex-dividend date of this dividend is Tuesday, September 3rd. Cinemark’s dividend payout ratio (DPR) is presently 74.32%.
In other Cinemark news, CFO Sean Gamble sold 5,669 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $41.50, for a total transaction of $235,263.50. Following the sale, the chief financial officer now directly owns 126,025 shares of the company’s stock, valued at $5,230,037.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 9.00% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CNK. Dimensional Fund Advisors LP lifted its holdings in Cinemark by 2.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,821,728 shares of the company’s stock valued at $65,217,000 after purchasing an additional 34,887 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Cinemark by 17.2% in the fourth quarter. Geode Capital Management LLC now owns 1,153,475 shares of the company’s stock worth $41,294,000 after buying an additional 169,339 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of Cinemark by 4.2% in the first quarter. Janney Montgomery Scott LLC now owns 40,715 shares of the company’s stock worth $1,628,000 after buying an additional 1,625 shares in the last quarter. First Republic Investment Management Inc. lifted its holdings in shares of Cinemark by 8.6% in the first quarter. First Republic Investment Management Inc. now owns 20,992 shares of the company’s stock worth $839,000 after buying an additional 1,655 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in shares of Cinemark by 8.0% in the first quarter. Janus Henderson Group PLC now owns 138,915 shares of the company’s stock worth $5,555,000 after buying an additional 10,258 shares in the last quarter. 99.86% of the stock is currently owned by institutional investors and hedge funds.
Cinemark Company Profile
Cinemark Holdings, Inc, together with its subsidiaries, engages in the motion picture exhibition business. As of December 31, 2018, it operated 341 theatres and 4,586 screens in 41 states of the United States; and 205 theatres and 1,462 screens in Brazil, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Bolivia, Curacao, and Paraguay.
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