Cinemark (NYSE:CNK) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Cinemark (NYSE:CNK) from a sell rating to a hold rating in a research report report published on Saturday morning.

Several other research analysts have also commented on CNK. Barrington Research reaffirmed an “outperform” rating and set a $32.00 price target on shares of Cinemark in a research report on Thursday. UBS Group raised shares of Cinemark to a “buy” rating in a report on Tuesday, January 20th. Benchmark reiterated a “buy” rating on shares of Cinemark in a research report on Thursday. JPMorgan Chase & Co. lowered their price objective on shares of Cinemark from $37.00 to $31.00 and set an “overweight” rating on the stock in a research report on Thursday, January 22nd. Finally, The Goldman Sachs Group restated a “sell” rating and issued a $22.00 price objective on shares of Cinemark in a research note on Thursday. Ten analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Cinemark has a consensus rating of “Moderate Buy” and a consensus price target of $32.08.

Cinemark Price Performance

Shares of CNK opened at $26.52 on Friday. The company has a debt-to-equity ratio of 4.74, a current ratio of 0.71 and a quick ratio of 0.72. Cinemark has a 1-year low of $21.60 and a 1-year high of $34.01. The stock has a market cap of $3.06 billion, a PE ratio of 30.48, a price-to-earnings-growth ratio of 2.71 and a beta of 1.13. The firm has a fifty day moving average price of $23.97 and a 200 day moving average price of $25.89.

Cinemark (NYSE:CNK) last issued its quarterly earnings data on Wednesday, February 18th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.08). Cinemark had a return on equity of 34.11% and a net margin of 4.44%.The firm had revenue of $776.30 million for the quarter, compared to analysts’ expectations of $778.41 million. During the same period in the previous year, the business posted $0.33 EPS. The business’s revenue for the quarter was down 4.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Cinemark will post 1.93 EPS for the current year.

Cinemark Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 17th. Stockholders of record on Tuesday, March 3rd will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Tuesday, March 3rd. Cinemark’s dividend payout ratio (DPR) is 41.38%.

Insider Buying and Selling at Cinemark

In other news, EVP Melissa Thomas sold 7,944 shares of the business’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $26.05, for a total transaction of $206,941.20. Following the transaction, the executive vice president directly owned 159,416 shares in the company, valued at $4,152,786.80. The trade was a 4.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Cinemark

Several institutional investors and hedge funds have recently added to or reduced their stakes in CNK. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Cinemark by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,699 shares of the company’s stock valued at $1,635,000 after buying an additional 2,872 shares during the period. Woodline Partners LP purchased a new position in Cinemark in the first quarter worth $570,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Cinemark by 8.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 345,258 shares of the company’s stock valued at $8,593,000 after acquiring an additional 25,490 shares during the period. Acadian Asset Management LLC acquired a new stake in Cinemark in the first quarter valued at $372,000. Finally, CWM LLC boosted its position in shares of Cinemark by 29.2% during the 2nd quarter. CWM LLC now owns 8,458 shares of the company’s stock worth $255,000 after purchasing an additional 1,910 shares in the last quarter.

About Cinemark

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.