Cinemark Holdings Inc to Issue Quarterly Dividend of $0.08 (NYSE:CNK)

Key Points

• Cinemark Holdings Inc declared a quarterly dividend of $0.08 per share, with investors of record receiving the payout on September 10th, representing an annualized dividend yield of 1.2%.
• The company reported $940.50 million in revenue for the last quarter, an increase of 28.1% year-over-year, though earnings per share fell short of analysts' expectations at $0.63.
• Cinemark's current payout ratio stands at 14.5%, indicating that the dividend is well covered by earnings and is expected to remain sustainable based on forecasts for future earnings.

Cinemark Holdings Inc (NYSE:CNK - Get Free Report) announced a quarterly dividend on Wednesday, August 13th, RTT News reports. Stockholders of record on Wednesday, August 27th will be given a dividend of 0.08 per share on Wednesday, September 10th. This represents a c) annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Wednesday, August 27th.

Cinemark has a dividend payout ratio of 14.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Cinemark to earn $2.58 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 12.4%.

Cinemark Stock Performance

Shares of NYSE:CNK traded up $0.49 during midday trading on Monday, hitting $26.11. The stock had a trading volume of 5,602,996 shares, compared to its average volume of 4,519,448. Cinemark has a 1 year low of $23.12 and a 1 year high of $36.28. The company has a current ratio of 0.91, a quick ratio of 0.88 and a debt-to-equity ratio of 4.32. The stock has a 50 day moving average price of $29.11 and a two-hundred day moving average price of $28.79. The company has a market capitalization of $3.00 billion, a PE ratio of 14.27, a P/E/G ratio of 1.83 and a beta of 1.90.

Cinemark (NYSE:CNK - Get Free Report) last announced its quarterly earnings data on Friday, August 1st. The company reported $0.63 earnings per share for the quarter, missing analysts' consensus estimates of $0.78 by ($0.15). Cinemark had a net margin of 9.13% and a return on equity of 59.16%. The business had revenue of $940.50 million during the quarter, compared to analysts' expectations of $942.14 million. During the same period in the prior year, the firm posted $0.32 EPS. Cinemark's revenue for the quarter was up 28.1% compared to the same quarter last year. As a group, equities analysts predict that Cinemark will post 1.93 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently weighed in on CNK shares. JPMorgan Chase & Co. lifted their price target on Cinemark from $34.00 to $35.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Roth Capital decreased their target price on shares of Cinemark from $36.00 to $34.00 and set a "buy" rating on the stock in a research report on Monday, August 4th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Cinemark in a research note on Thursday, July 10th. They set a "buy" rating and a $36.00 price target on the stock. Benchmark reiterated a "buy" rating and issued a $35.00 price objective on shares of Cinemark in a research note on Wednesday, July 2nd. Finally, Wall Street Zen upgraded shares of Cinemark from a "sell" rating to a "hold" rating in a research report on Sunday, August 10th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $33.67.

About Cinemark

Cinemark Holdings, Inc, together with its subsidiaries, engages in the motion picture exhibition business. As of February 16, 2024, it operated 501 theatres with 5,719 screens in 42 states and 13 countries in South and Central America. Cinemark Holdings, Inc was founded in 1984 and is headquartered in Plano, Texas.