Cinemark Holdings Inc (CNK) Stock Rating Reaffirmed by Wedbush
Wedbush reiterated their outperform rating on shares of Cinemark Holdings Inc (NYSE:CNK) in a research report sent to investors on Thursday morning. Wedbush currently has a $44.00 price objective on the stock.
A number of other analysts have also recently weighed in on CNK. Royal Bank Of Canada reaffirmed a hold rating and issued a $43.00 price target on shares of Cinemark Holdings in a research report on Wednesday, August 9th. B. Riley reaffirmed a buyl rating on shares of Cinemark Holdings in a research report on Sunday, August 13th. BidaskClub cut Cinemark Holdings from a buy rating to a hold rating in a research report on Friday, August 18th. Morgan Stanley raised Cinemark Holdings from an underweight rating to an equal weight rating and set a $38.00 price target for the company in a research report on Thursday. Finally, Barrington Research reduced their price target on Cinemark Holdings from $49.00 to $46.00 and set an outperform rating for the company in a research report on Monday, August 7th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $42.07.
Shares of Cinemark Holdings (NYSE:CNK) opened at 37.68 on Thursday. Cinemark Holdings has a one year low of $32.03 and a one year high of $44.84. The stock has a market capitalization of $4.36 billion, a P/E ratio of 16.10 and a beta of 1.10. The company’s 50 day moving average price is $34.91 and its 200 day moving average price is $39.10.
Cinemark Holdings (NYSE:CNK) last announced its quarterly earnings results on Friday, August 4th. The company reported $0.44 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.44. Cinemark Holdings had a return on equity of 20.98% and a net margin of 9.12%. The company had revenue of $751.20 million during the quarter, compared to analysts’ expectations of $751.72 million. During the same quarter in the previous year, the firm earned $0.46 earnings per share. The business’s quarterly revenue was up .9% compared to the same quarter last year. On average, equities analysts expect that Cinemark Holdings will post $2.08 earnings per share for the current year.
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The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 13th. Investors of record on Thursday, August 31st were given a dividend of $0.29 per share. The ex-dividend date was Tuesday, August 29th. This represents a $1.16 annualized dividend and a dividend yield of 3.08%. Cinemark Holdings’s dividend payout ratio is presently 49.57%.
In other Cinemark Holdings news, CEO Mark Zoradi acquired 5,000 shares of the business’s stock in a transaction that occurred on Friday, September 8th. The stock was acquired at an average price of $32.19 per share, with a total value of $160,950.00. Following the transaction, the chief executive officer now owns 172,456 shares of the company’s stock, valued at $5,551,358.64. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 9.10% of the stock is currently owned by insiders.
A number of institutional investors have recently bought and sold shares of CNK. Advisor Group Inc. raised its holdings in Cinemark Holdings by 2.3% in the 2nd quarter. Advisor Group Inc. now owns 3,767 shares of the company’s stock valued at $145,000 after acquiring an additional 84 shares in the last quarter. Quantbot Technologies LP acquired a new position in Cinemark Holdings in the 2nd quarter valued at approximately $146,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Cinemark Holdings by 9.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,792 shares of the company’s stock valued at $147,000 after acquiring an additional 330 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in Cinemark Holdings by 224.8% in the 2nd quarter. Advisors Asset Management Inc. now owns 4,752 shares of the company’s stock valued at $185,000 after acquiring an additional 3,289 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. acquired a new position in Cinemark Holdings in the 1st quarter valued at approximately $213,000. 90.13% of the stock is owned by hedge funds and other institutional investors.
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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