Cinemark (NYSE:CNK) Stock Price Crosses Above 200 Day Moving Average - What's Next?

Key Points

• Cinemark shares moved above their 200-day moving average on Tuesday, trading as high as $29.95 and last changing hands at about $29.37. The move came with volume of roughly 2.08 million shares.
• Analyst sentiment is generally positive, with eight Buy ratings and five Hold ratings. The consensus rating is “Moderate Buy,” and the average price target is $35.00, while several firms recently raised targets or upgraded the stock.
• Recent financial results were mixed but showed revenue growth: Cinemark reported a small EPS miss for the quarter, but revenue came in above expectations at $643.1 million, up 18.9% year over year. The company also pays a quarterly dividend of $0.09, or $0.36 annually, for a 1.2% yield.

Cinemark Holdings Inc (NYSE:CNK - Get Free Report) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $27.64 and traded as high as $29.95. Cinemark shares last traded at $29.3670, with a volume of 2,077,374 shares.

Wall Street Analysts Forecast Growth

CNK has been the subject of a number of research reports. JPMorgan Chase & Co. increased their target price on Cinemark from $35.00 to $36.00 and gave the stock an "overweight" rating in a report on Monday, May 4th. The Goldman Sachs Group raised Cinemark from a "sell" rating to a "neutral" rating and upped their price objective for the stock from $23.00 to $30.00 in a research report on Wednesday, July 8th. Zacks Research downgraded Cinemark from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 2nd. Wells Fargo & Company increased their price objective on Cinemark from $32.00 to $36.00 and gave the stock an "overweight" rating in a report on Thursday, April 9th. Finally, Roth Capital reissued a "buy" rating and issued a $37.00 target price on shares of Cinemark in a research report on Thursday, April 23rd. Eight research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $35.00.

Cinemark Trading Up 0.7%

The firm has a market cap of $3.43 billion, a P/E ratio of 25.99 and a beta of 0.98. The business's 50-day moving average is $29.97 and its two-hundred day moving average is $27.64. The company has a debt-to-equity ratio of 5.03, a current ratio of 0.62 and a quick ratio of 0.58.

Cinemark (NYSE:CNK - Get Free Report) last issued its quarterly 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 net margin of 5.31% and a return on equity of 41.31%. The business had revenue of $643.10 million during the quarter, compared to analyst estimates of $632.74 million. During the same quarter in the previous year, the firm posted ($0.32) earnings per share. The firm's quarterly revenue was up 18.9% on a year-over-year basis. As a group, analysts predict that Cinemark Holdings Inc will post 2.17 earnings per share for the current fiscal year.

Cinemark Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Thursday, May 28th were given a $0.09 dividend. The ex-dividend date of this dividend was Thursday, May 28th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.2%. Cinemark's payout ratio is currently 31.86%.

Institutional Trading of Cinemark

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Orbis Allan Gray Ltd grew its stake in Cinemark by 31.0% in the fourth quarter. Orbis Allan Gray Ltd now owns 15,057,911 shares of the company's stock valued at $349,946,000 after purchasing an additional 3,563,810 shares in the last quarter. Wellington Management Group LLP raised its stake 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 worth $221,638,000 after purchasing an additional 742,307 shares in the last quarter. Lavaca Capital LLC bought a new stake in shares of Cinemark during the 4th quarter worth approximately $133,045,000. State Street Corp boosted its holdings 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 buying an additional 60,176 shares during the last quarter. Finally, Alyeska Investment Group L.P. acquired a new stake in shares of Cinemark in the 4th quarter valued at approximately $55,296,000.

About Cinemark

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.