Cinemark Holdings Inc (NYSE:CNK) Given Average Recommendation of “Moderate Buy” by Analysts

Cinemark Holdings Inc (NYSE:CNK) has been given a consensus recommendation of “Moderate Buy” by the twelve ratings firms that are currently covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $34.7273.

A number of research firms recently issued reports on CNK. JPMorgan Chase & Co. dropped their target price on shares of Cinemark from $38.00 to $37.00 and set an “overweight” rating for the company in a research report on Thursday, November 6th. Morgan Stanley reissued an “equal weight” rating and issued a $28.00 price objective (down previously from $35.00) on shares of Cinemark in a research report on Thursday, December 18th. Weiss Ratings restated a “hold (c)” rating on shares of Cinemark in a report on Monday, December 29th. Benchmark reiterated a “buy” rating on shares of Cinemark in a report on Wednesday, December 10th. Finally, UBS Group set a $35.00 price objective on Cinemark in a research report on Wednesday, December 10th.

Cinemark Trading Down 0.9%

Shares of CNK opened at $22.55 on Thursday. Cinemark has a twelve month low of $21.60 and a twelve month high of $34.01. The firm has a market capitalization of $2.65 billion, a P/E ratio of 21.68, a price-to-earnings-growth ratio of 2.25 and a beta of 1.10. The company has a current ratio of 0.76, a quick ratio of 0.72 and a debt-to-equity ratio of 5.01. The stock’s fifty day simple moving average is $25.74 and its 200 day simple moving average is $26.96.

Cinemark (NYSE:CNK) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.40 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.04). The firm had revenue of $857.50 million for the quarter, compared to analyst estimates of $851.47 million. Cinemark had a return on equity of 34.33% and a net margin of 4.93%.The business’s revenue was down 7.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.19 earnings per share. On average, equities research analysts forecast that Cinemark will post 1.93 earnings per share for the current year.

Cinemark Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 12th. Shareholders of record on Friday, November 28th were issued a $0.09 dividend. The ex-dividend date was Friday, November 28th. This represents a $0.36 dividend on an annualized basis and a yield of 1.6%. This is an increase from Cinemark’s previous quarterly dividend of $0.08. Cinemark’s dividend payout ratio (DPR) is presently 34.62%.

Insiders Place Their Bets

In other news, EVP Melissa Thomas sold 22,082 shares of the firm’s stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $24.81, for a total transaction of $547,854.42. Following the completion of the sale, the executive vice president owned 167,360 shares of the company’s stock, valued at approximately $4,152,201.60. This trade represents a 11.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cinemark

A number of large investors have recently bought and sold shares of CNK. Amundi boosted its position in Cinemark by 115.1% during the 1st quarter. Amundi now owns 423,102 shares of the company’s stock worth $10,573,000 after acquiring an additional 226,421 shares during the period. AQR Capital Management LLC grew its position in Cinemark by 13.5% in the 1st quarter. AQR Capital Management LLC now owns 497,812 shares of the company’s stock valued at $12,077,000 after buying an additional 59,358 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Cinemark by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,699 shares of the company’s stock valued at $1,635,000 after buying an additional 2,872 shares in the last quarter. Woodline Partners LP acquired a new position in Cinemark during the 1st quarter valued at about $570,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Cinemark by 8.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 345,258 shares of the company’s stock worth $8,593,000 after buying an additional 25,490 shares in the last quarter.

Cinemark Company Profile

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.