Loop Capital Reiterates Buy Rating for Cinemark Holdings Inc. (CNK)
Cinemark Holdings Inc. (NYSE:CNK)‘s stock had its “buy” rating reaffirmed by equities researchers at Loop Capital in a research note issued to investors on Tuesday. They presently have a $44.00 target price on the stock. Loop Capital’s price objective suggests a potential upside of 13.37% from the company’s previous close.
Several other equities research analysts have also recently commented on CNK. Stifel Nicolaus reiterated a “buy” rating on shares of Cinemark Holdings in a research report on Friday, June 10th. Credit Suisse Group AG initiated coverage on shares of Cinemark Holdings in a research report on Monday, June 13th. They set a “neutral” rating and a $33.00 price target for the company. Drexel Hamilton reiterated a “buy” rating on shares of Cinemark Holdings in a research report on Thursday, July 7th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Cinemark Holdings in a research report on Sunday, July 10th. Finally, Wedbush reiterated a “neutral” rating and set a $40.00 price target on shares of Cinemark Holdings in a research report on Friday, July 15th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $40.46.
Cinemark Holdings (NYSE:CNK) traded down 0.36% during midday trading on Tuesday, reaching $38.67. 41,418 shares of the company’s stock were exchanged. Cinemark Holdings has a 1-year low of $26.56 and a 1-year high of $39.45. The firm’s 50-day moving average is $38.34 and its 200 day moving average is $36.43. The stock has a market cap of $4.47 billion, a P/E ratio of 20.69 and a beta of 1.01.
Cinemark Holdings (NYSE:CNK) last issued its quarterly earnings results on Tuesday, August 9th. The company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.51 by $0.05. Cinemark Holdings had a return on equity of 19.68% and a net margin of 7.58%. The business had revenue of $744.40 million for the quarter, compared to analyst estimates of $746.05 million. During the same quarter in the prior year, the firm earned $0.61 EPS. The firm’s quarterly revenue was down 6.9% compared to the same quarter last year. Equities analysts anticipate that Cinemark Holdings will post $1.94 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 13th. Stockholders of record on Wednesday, August 31st were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 2.78%. The ex-dividend date was Monday, August 29th. Cinemark Holdings’s dividend payout ratio (DPR) is presently 58.06%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Commonwealth Equity Services Inc boosted its position in Cinemark Holdings by 24.5% in the first quarter. Commonwealth Equity Services Inc now owns 14,791 shares of the company’s stock valued at $530,000 after buying an additional 2,910 shares during the period. Aperio Group LLC raised its stake in shares of Cinemark Holdings by 32.8% in the first quarter. Aperio Group LLC now owns 24,099 shares of the company’s stock worth $863,000 after buying an additional 5,955 shares in the last quarter. Nisa Investment Advisors L.L.C. raised its stake in shares of Cinemark Holdings by 68.2% in the first quarter. Nisa Investment Advisors L.L.C. now owns 14,300 shares of the company’s stock worth $512,000 after buying an additional 5,800 shares in the last quarter. Ngam Advisors L.P. raised its stake in shares of Cinemark Holdings by 30.4% in the first quarter. Ngam Advisors L.P. now owns 31,167 shares of the company’s stock worth $1,117,000 after buying an additional 7,272 shares in the last quarter. Finally, TIAA CREF Investment Management LLC raised its stake in shares of Cinemark Holdings by 1.2% in the first quarter. TIAA CREF Investment Management LLC now owns 420,817 shares of the company’s stock worth $15,078,000 after buying an additional 4,907 shares in the last quarter. Institutional investors own 88.53% of the company’s stock.
About Cinemark Holdings
Cinemark Holdings, Inc (Cinemark) is engaged in the motion picture exhibition business with theatres in the United States, Brazil, Mexico, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Curacao and Bolivia. The Company manages its business in two segments: United States markets and international markets.
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