Cinemark (NYSE:CNK) Stock Crosses Above 200 Day Moving Average - Time to Sell?

Key Points

• Cinemark shares crossed above their 200-day moving average, reaching $36.93 before last trading at $35.8540, compared with a 200-day average of $31.42.
• Analysts maintained a generally positive outlook, with nine Buy ratings and six Holds; the consensus rating was “Moderate Buy” and the average price target was $37.93.
• Cinemark exceeded quarterly expectations with earnings of $1.19 per share and revenue of $1.09 billion, while announcing a $0.09 quarterly dividend, equivalent to a 1.0% yield.

Cinemark Holdings Inc (NYSE:CNK - Get Free Report) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $31.42 and traded as high as $36.93. Cinemark shares last traded at $35.8540, with a volume of 3,276,890 shares.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Morgan Stanley set a $40.00 price target on shares of Cinemark in a research report on Wednesday, July 29th. Roth Capital set a $40.00 price objective on shares of Cinemark in a research report on Thursday, July 30th. Guggenheim set a $37.00 price objective on Cinemark in a research note on Thursday, July 2nd. B. Riley Financial raised their target price on Cinemark from $35.00 to $37.00 and gave the stock a "neutral" rating in a report on Friday, July 31st. Finally, Wells Fargo & Company raised their target price on Cinemark from $31.00 to $34.00 and gave the stock an "equal weight" rating in a report on Friday, July 31st. Nine research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, Cinemark currently has a consensus rating of "Moderate Buy" and a consensus target price of $37.93.

Cinemark Stock Down 1.1%

The company has a market capitalization of $4.16 billion, a PE ratio of 21.22 and a beta of 0.98. The company's fifty day moving average is $35.39 and its 200-day moving average is $31.42. The company has a debt-to-equity ratio of 3.87, a quick ratio of 0.81 and a current ratio of 0.84.

Cinemark (NYSE:CNK - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.16. The business had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.03 billion. Cinemark had a net margin of 6.44% and a return on equity of 50.94%. The company's revenue for the quarter was up 15.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.63 earnings per share. As a group, analysts predict that Cinemark Holdings Inc will post 2.41 EPS for the current fiscal year.

Cinemark Dividend Announcement

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

Institutional Investors Weigh In On Cinemark

A number of institutional investors have recently bought and sold shares of CNK. BlackRock Inc. purchased a new stake in shares of Cinemark during the second quarter worth about $530,855,000. Park West Asset Management LLC bought a new stake in Cinemark during the 2nd quarter valued at approximately $40,707,000. Bank of New York Mellon Corp purchased a new position in Cinemark in the 2nd quarter worth approximately $29,387,000. Bank of America Corp DE lifted its holdings in Cinemark by 115.1% in the 1st quarter. Bank of America Corp DE now owns 831,389 shares of the company's stock worth $23,711,000 after purchasing an additional 444,965 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in Cinemark in the 2nd quarter worth approximately $22,657,000.

About Cinemark

Cinemark Holdings, Inc is a motion picture exhibition company that operates movie theaters in the United States and Latin America. Through its Cinemark and Century-branded locations, the company offers theatrical screenings of newly released films across a range of formats and venue types.

In addition to movie tickets, Cinemark generates revenue through food and beverage concessions, advertising, and premium entertainment experiences. Its offerings include luxury seating, large-format screens, and enhanced audio and visual presentations, along with online and mobile ticketing and the Movie Club customer loyalty program.

Founded in 1987 by Lee Roy Mitchell, Cinemark is headquartered in Plano, Texas.

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