Cinemark Holdings Inc (NYSE:CNK) Receives Average Rating of "Moderate Buy" from Analysts

Key Points

• Analysts maintain a “Moderate Buy” consensus on Cinemark, with eight buy ratings, six holds and one strong buy. The average 12-month price target is $37.93, roughly in line with the stock’s $37.01 opening price.
• Cinemark reported stronger-than-expected quarterly results, earning $1.19 per share versus the $1.03 consensus estimate on revenue of $1.09 billion. Revenue increased 15.5% year over year.
• The company declared a quarterly dividend of $0.09 per share, equating to an annualized $0.36 payout and a 1.0% yield; institutional investors also made notable investments, including BlackRock’s approximately $531 million new stake.

Shares of Cinemark Holdings Inc (NYSE:CNK - Get Free Report) have been given an average recommendation of "Moderate Buy" by the fifteen research firms that are currently covering the company, MarketBeat reports. Six equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $37.9286.

A number of equities analysts have recently weighed in on the company. Zacks Research upgraded Cinemark from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 4th. Wall Street Zen upgraded shares of Cinemark from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 15th. Benchmark raised their target price on Cinemark from $37.00 to $40.00 and gave the company a "buy" rating in a report on Friday, July 31st. Moffett Nathanson reiterated a "buy" rating and set a $40.00 price target on shares of Cinemark in a research note on Thursday, July 30th. Finally, Barrington Research set a $42.00 price objective on Cinemark in a report on Thursday, July 30th.

Cinemark Price Performance

Shares of CNK stock opened at $37.01 on Friday. The firm has a fifty day moving average of $33.65 and a two-hundred day moving average of $29.88. The firm has a market cap of $4.29 billion, a P/E ratio of 21.90 and a beta of 1.00. Cinemark has a 1-year low of $21.60 and a 1-year high of $38.98. The company has a debt-to-equity ratio of 3.87, a current ratio of 0.84 and a quick ratio of 0.81.

Cinemark (NYSE:CNK - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.16. The firm had revenue of $1.09 billion for the quarter, compared to analysts' expectations of $1.03 billion. Cinemark had a return on equity of 50.94% and a net margin of 6.44%.The firm's revenue for the quarter was up 15.5% on a year-over-year basis. During the same period last year, the business posted $0.63 earnings per share. As a group, research analysts anticipate that Cinemark will post 2.36 earnings per share for the current fiscal year.

Cinemark Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Wednesday, August 26th will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.0%. The ex-dividend date is Wednesday, August 26th. Cinemark's payout ratio is currently 21.30%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in shares of Cinemark during the 2nd quarter worth approximately $530,855,000. Orbis Allan Gray Ltd grew its holdings in Cinemark by 31.0% during the 4th quarter. Orbis Allan Gray Ltd now owns 15,057,911 shares of the company's stock worth $349,946,000 after acquiring an additional 3,563,810 shares during the period. Wellington Management Group LLP raised its position in shares of Cinemark by 8.4% during the 4th quarter. Wellington Management Group LLP now owns 9,536,900 shares of the company's stock valued at $221,638,000 after acquiring an additional 742,307 shares during the last quarter. Lavaca Capital LLC acquired a new position in shares of Cinemark in the 4th quarter valued at $133,045,000. Finally, State Street Corp lifted its stake in shares of Cinemark by 1.5% in the 4th quarter. State Street Corp now owns 3,950,606 shares of the company's stock valued at $91,812,000 after purchasing an additional 60,176 shares during the period.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source