Cinemark (NYSE:CNK) Stock Price Passes Above 200 Day Moving Average - Here's What Happened

Key Points

• Cinemark's stock crossed above its 200-day moving average, trading as high as $30.18 and last at about $29.99 versus a 200‑day MA of $26.26, a bullish technical signal.
• Wall Street is mostly bullish — the consensus is a "Moderate Buy" (10 Buys, 4 Holds, 1 Sell) with a consensus target of $32.69 and JPMorgan raising its price target to $35.
• Fundamentals are mixed: the latest quarter missed EPS ($0.16 vs. $0.24) with revenue down 4.7% YoY, while the company pays a $0.09 quarterly dividend (≈1.2% yield) and has a high debt-to-equity ratio (4.74).

Cinemark Holdings Inc (NYSE:CNK - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $26.26 and traded as high as $30.18. Cinemark shares last traded at $29.9850, with a volume of 2,606,494 shares changing hands.

Wall Street Analysts Forecast Growth

CNK has been the topic of a number of analyst reports. Moffett Nathanson raised Cinemark from a "neutral" rating to a "buy" rating and set a $30.00 target price on the stock in a research note on Tuesday, January 20th. Weiss Ratings reissued a "hold (c)" rating on shares of Cinemark in a research report on Friday, March 27th. JPMorgan Chase & Co. raised their price target on shares of Cinemark from $31.00 to $35.00 and gave the company an "overweight" rating in a research note on Wednesday, April 8th. UBS Group upgraded shares of Cinemark to a "buy" rating in a report on Tuesday, January 20th. Finally, Wall Street Zen upgraded shares of Cinemark from a "sell" rating to a "hold" rating in a research note on Saturday, February 21st. Ten investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Cinemark currently has a consensus rating of "Moderate Buy" and a consensus target price of $32.69.

Cinemark Stock Performance

The stock has a fifty day moving average price of $27.51 and a two-hundred day moving average price of $26.26. The company has a market capitalization of $3.50 billion, a price-to-earnings ratio of 34.47 and a beta of 1.09. The company has a quick ratio of 0.67, a current ratio of 0.71 and a debt-to-equity ratio of 4.74.

Cinemark (NYSE:CNK - Get Free Report) last announced its earnings results on Wednesday, February 18th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.24 by ($0.08). The firm had revenue of $776.30 million for the quarter, compared to analyst estimates of $778.41 million. Cinemark had a return on equity of 34.11% and a net margin of 4.44%.The firm's revenue was down 4.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.33 EPS. As a group, analysts forecast that Cinemark Holdings Inc will post 1.93 EPS for the current fiscal year.

Cinemark Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 17th. Stockholders of record on Tuesday, March 3rd were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Tuesday, March 3rd. Cinemark's dividend payout ratio (DPR) is currently 41.38%.

Insider Transactions at Cinemark

In related news, EVP Melissa Thomas sold 7,944 shares of Cinemark stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $26.05, for a total transaction of $206,941.20. Following the sale, the executive vice president owned 159,416 shares of the company's stock, valued at $4,152,786.80. The trade was a 4.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Cinemark

Hedge funds and other institutional investors have recently modified their holdings of the stock. Intech Investment Management LLC boosted its stake in Cinemark by 129.0% during the 3rd quarter. Intech Investment Management LLC now owns 156,602 shares of the company's stock valued at $4,388,000 after purchasing an additional 88,203 shares during the period. Jain Global LLC increased its stake in Cinemark by 37.4% in the 3rd quarter. Jain Global LLC now owns 1,644,623 shares of the company's stock valued at $46,082,000 after buying an additional 447,468 shares during the period. Cartenna Capital LP boosted its holdings in shares of Cinemark by 29.4% during the 3rd quarter. Cartenna Capital LP now owns 1,650,000 shares of the company's stock worth $46,233,000 after buying an additional 375,000 shares during the period. Junto Capital Management LP bought a new stake in shares of Cinemark during the 3rd quarter worth $25,509,000. Finally, Gabelli Funds LLC bought a new stake in Cinemark in the 3rd quarter valued at $1,444,000.

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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