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

Key Points

• Cinemark Holdings Inc (NYSE:CNK) receives a consensus rating of "Moderate Buy" from twelve brokerages, with ten analysts recommending a buy, one a hold, and one a sell.
• The company recently reported $0.63 EPS for the quarter, missing estimates by $0.15, despite a 28.1% revenue increase year over year.
• Cinemark has declared a quarterly dividend of $0.08, representing an annual yield of 1.3%, with the ex-dividend date set for August 27.

Shares of Cinemark Holdings Inc (NYSE:CNK - Get Free Report) have earned an average rating of "Moderate Buy" from the twelve ratings firms that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have issued a buy rating on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $33.6667.

CNK has been the topic of a number of research analyst reports. B. Riley initiated coverage on shares of Cinemark in a research note on Friday, May 16th. They issued a "neutral" rating and a $35.00 price target on the stock. Deutsche Bank Aktiengesellschaft started coverage on shares of Cinemark in a report on Thursday, July 10th. They issued a "buy" rating and a $36.00 price objective on the stock. Benchmark restated a "buy" rating and set a $35.00 target price on shares of Cinemark in a research note on Wednesday, July 2nd. Roth Capital cut their target price on shares of Cinemark from $36.00 to $34.00 and set a "buy" rating on the stock in a research note on Monday, August 4th. Finally, Wedbush raised Cinemark from a "neutral" rating to an "outperform" rating and upped their price target for the company from $32.00 to $37.00 in a report on Friday, July 11th.

Insider Buying and Selling at Cinemark

In related news, insider Wanda Marie Gierhart sold 52,524 shares of the stock in a transaction on Friday, June 13th. The stock was sold at an average price of $31.85, for a total transaction of $1,672,889.40. Following the completion of the sale, the insider directly owned 94,890 shares of the company's stock, valued at $3,022,246.50. This trade represents a 35.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Melissa Thomas sold 7,200 shares of the stock in a transaction on Friday, August 15th. The stock was sold at an average price of $25.17, for a total value of $181,224.00. Following the sale, the executive vice president directly owned 203,768 shares of the company's stock, valued at approximately $5,128,840.56. This represents a 3.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Cinemark

Hedge funds and other institutional investors have recently bought and sold shares of the business. Osaic Holdings Inc. raised its stake in shares of Cinemark by 769.6% during the 2nd quarter. Osaic Holdings Inc. now owns 14,922 shares of the company's stock worth $427,000 after buying an additional 13,206 shares during the last quarter. Advisory Services Network LLC raised its stake in shares of Cinemark by 526.4% during the 2nd quarter. Advisory Services Network LLC now owns 82,224 shares of the company's stock worth $2,482,000 after buying an additional 69,098 shares during the last quarter. Hudson Bay Capital Management LP acquired a new position in shares of Cinemark during the 2nd quarter worth $3,427,000. Castleark Management LLC purchased a new stake in shares of Cinemark in the second quarter valued at $4,455,000. Finally, Public Sector Pension Investment Board lifted its position in shares of Cinemark by 1.6% in the second quarter. Public Sector Pension Investment Board now owns 344,119 shares of the company's stock valued at $10,386,000 after acquiring an additional 5,496 shares in the last quarter.

Cinemark Stock Performance

NYSE:CNK traded down $0.11 during midday trading on Friday, hitting $26.90. The company's stock had a trading volume of 477,686 shares, compared to its average volume of 3,918,778. Cinemark has a fifty-two week low of $23.12 and a fifty-two week high of $36.28. The firm's 50 day moving average is $27.43 and its 200-day moving average is $28.30. The company has a debt-to-equity ratio of 4.32, a current ratio of 0.91 and a quick ratio of 0.88. The firm has a market cap of $3.09 billion, a P/E ratio of 14.67, a P/E/G ratio of 1.96 and a beta of 1.85.

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

Cinemark Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Wednesday, August 27th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Wednesday, August 27th. This represents a $0.32 annualized dividend and a dividend yield of 1.2%. Cinemark's dividend payout ratio (DPR) is currently 17.49%.

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.