Cinemark (NYSE:CNK) Hits New 12-Month High - Here's What Happened

Key Points

• Cinemark shares reached a new 52-week high, trading near $34.82 after previously closing at $33.66. The stock’s consensus analyst rating is “Moderate Buy,” with an average price target of $34.58.
• Recent analyst views have been mixed but generally improved, including Goldman Sachs upgrading the stock to “neutral” and Morgan Stanley raising its price target to $36; seven analysts rate Cinemark a Buy and six rate it a Hold.
• Cinemark reported quarterly revenue of $643.1 million, up 18.9% year over year and above estimates, though it missed EPS expectations slightly. The company also paid a quarterly dividend of $0.09 per share, representing a 1.0% annualized yield.

Cinemark Holdings Inc (NYSE:CNK - Get Free Report) reached a new 52-week high on Tuesday . The company traded as high as $34.76 and last traded at $34.8180, with a volume of 486947 shares traded. The stock had previously closed at $33.66.

Analyst Upgrades and Downgrades

CNK has been the topic of several recent analyst reports. B. Riley Financial decreased their target price on shares of Cinemark from $36.00 to $35.00 and set a "neutral" rating on the stock in a report on Friday, July 17th. The Goldman Sachs Group raised Cinemark from a "sell" rating to a "neutral" rating and raised their target price for the stock from $23.00 to $30.00 in a research note on Wednesday, July 8th. Zacks Research lowered Cinemark from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 2nd. Morgan Stanley raised their price objective on Cinemark from $30.00 to $36.00 and gave the stock an "equal weight" rating in a research report on Tuesday, June 9th. Finally, Guggenheim set a $37.00 target price on shares of Cinemark in a research report on Thursday, July 2nd. Seven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $34.58.

Cinemark Stock Performance

The company has a quick ratio of 0.58, a current ratio of 0.62 and a debt-to-equity ratio of 5.03. The firm has a 50-day moving average price of $30.85 and a 200 day moving average price of $28.19. The firm has a market capitalization of $4.07 billion, a PE ratio of 30.86 and a beta of 0.98.

Cinemark (NYSE:CNK - Get Free Report) last posted its earnings results on Friday, May 1st. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.01). Cinemark had a return on equity of 41.31% and a net margin of 5.31%.The firm had revenue of $643.10 million for the quarter, compared to analyst estimates of $632.74 million. During the same period in the previous year, the company posted ($0.32) EPS. Cinemark's revenue was up 18.9% on a year-over-year basis. Research analysts expect that Cinemark Holdings Inc will post 2.14 earnings per share for the current year.

Cinemark Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Thursday, May 28th were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Thursday, May 28th. Cinemark's dividend payout ratio (DPR) is presently 31.86%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CNK. EverSource Wealth Advisors LLC lifted its position in Cinemark by 118.5% in the second quarter. EverSource Wealth Advisors LLC now owns 935 shares of the company's stock valued at $28,000 after acquiring an additional 507 shares during the last quarter. Leonteq Securities AG acquired a new position in shares of Cinemark in the fourth quarter valued at approximately $83,000. GAMMA Investing LLC grew its stake in Cinemark by 51.8% in the 4th quarter. GAMMA Investing LLC now owns 4,022 shares of the company's stock worth $93,000 after acquiring an additional 1,372 shares during the period. KBC Group NV raised its holdings in Cinemark by 56.9% in the 1st quarter. KBC Group NV now owns 4,334 shares of the company's stock valued at $124,000 after acquiring an additional 1,572 shares during the last quarter. Finally, Kestra Advisory Services LLC acquired a new stake in shares of Cinemark during the fourth quarter worth $102,000.

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.

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