Cinemark Holdings Inc (CNK) Receives “Buy” Rating from MKM Partners
A number of other equities research analysts have also issued reports on CNK. Moffett Nathanson lowered shares of Cinemark Holdings from a neutral rating to a sell rating and set a $33.00 price objective for the company. in a report on Monday, June 12th. Credit Suisse Group lowered shares of Cinemark Holdings from a neutral rating to an underperform rating and cut their price objective for the company from $38.00 to $34.00 in a report on Thursday, June 22nd. Wedbush increased their price objective on shares of Cinemark Holdings from $43.00 to $45.00 and gave the company a neutral rating in a report on Tuesday, July 4th. Zacks Investment Research lowered shares of Cinemark Holdings from a hold rating to a sell rating in a report on Tuesday, July 4th. Finally, Morgan Stanley cut their price objective on shares of Cinemark Holdings from $43.00 to $40.00 and set an underweight rating for the company in a report on Thursday, July 6th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $42.80.
Shares of Cinemark Holdings (NYSE:CNK) opened at 36.41 on Monday. Cinemark Holdings has a 12 month low of $32.03 and a 12 month high of $44.84. The firm’s 50-day moving average is $35.33 and its 200 day moving average is $39.72. The company has a market capitalization of $4.22 billion, a price-to-earnings ratio of 15.56 and a beta of 1.06.
Cinemark Holdings (NYSE:CNK) last announced its quarterly earnings data on Friday, August 4th. The company reported $0.44 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.44. Cinemark Holdings had a net margin of 9.12% and a return on equity of 20.98%. The business had revenue of $751.20 million during the quarter, compared to analyst estimates of $751.72 million. During the same period last year, the firm posted $0.46 EPS. The company’s revenue was up .9% on a year-over-year basis. Equities analysts expect that Cinemark Holdings will post $2.09 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 13th. Investors of record on Thursday, August 31st were given a $0.29 dividend. The ex-dividend date was Tuesday, August 29th. This represents a $1.16 dividend on an annualized basis and a yield of 3.19%. Cinemark Holdings’s dividend payout ratio is presently 49.57%.
In related news, CEO Mark Zoradi purchased 5,000 shares of the stock in a transaction that occurred on Friday, September 8th. The stock was bought at an average cost of $32.19 per share, for a total transaction of $160,950.00. Following the completion of the transaction, the chief executive officer now directly owns 172,456 shares in the company, valued at $5,551,358.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 9.10% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Lord Abbett & CO. LLC bought a new stake in Cinemark Holdings in the second quarter worth $8,856,000. Public Employees Retirement System of Ohio lifted its position in Cinemark Holdings by 1.2% in the second quarter. Public Employees Retirement System of Ohio now owns 54,219 shares of the company’s stock worth $2,106,000 after buying an additional 626 shares during the last quarter. Kalos Management Inc. lifted its position in Cinemark Holdings by 2.2% in the second quarter. Kalos Management Inc. now owns 59,613 shares of the company’s stock worth $2,315,000 after buying an additional 1,281 shares during the last quarter. Ameritas Investment Partners Inc. lifted its position in Cinemark Holdings by 1.7% in the second quarter. Ameritas Investment Partners Inc. now owns 31,704 shares of the company’s stock worth $1,232,000 after buying an additional 530 shares during the last quarter. Finally, Nomura Holdings Inc. bought a new stake in Cinemark Holdings in the second quarter worth $641,000. Institutional investors own 90.13% of the company’s stock.
About Cinemark Holdings
Cinemark Holdings, Inc is engaged in the motion picture exhibition business with theatres in the United States (U.S.), Brazil, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Paraguay, Curacao and Bolivia. The Company manages its business in two segments: U.S.
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