Cinemark (NYSE:CNK) Downgraded to Buy Rating by Wall Street Zen

Wall Street Zen lowered shares of Cinemark (NYSE:CNK) from a strong-buy rating to a buy rating in a report published on Saturday morning.

Several other equities research analysts have also recently weighed in on CNK. B. Riley Financial raised their price objective on shares of Cinemark from $35.00 to $37.00 and gave the company a “neutral” rating in a research report on Friday, July 31st. Wells Fargo & Company upped their target price on shares of Cinemark from $31.00 to $34.00 and gave the stock an “equal weight” rating in a research report on Friday, July 31st. The Goldman Sachs Group raised shares of Cinemark from a “sell” rating to a “neutral” rating and increased their price target for the company from $23.00 to $30.00 in a research note on Wednesday, July 8th. Roth Capital set a $40.00 price target on shares of Cinemark in a report on Thursday, July 30th. Finally, Guggenheim set a $37.00 price objective on shares of Cinemark in a research report on Thursday, July 2nd. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $37.93.

Cinemark Trading Down 1.5%

Shares of CNK opened at $36.04 on Friday. The company has a debt-to-equity ratio of 3.87, a quick ratio of 0.81 and a current ratio of 0.84. The company has a market cap of $4.18 billion, a price-to-earnings ratio of 21.33 and a beta of 1.00. The stock has a fifty day moving average price of $34.10 and a two-hundred day moving average price of $30.35. Cinemark has a 52-week low of $21.60 and a 52-week high of $38.98.

Cinemark (NYSE:CNK) last announced its earnings results on Thursday, July 30th. The company reported $1.19 EPS for the quarter, topping the consensus estimate of $1.03 by $0.16. Cinemark had a return on equity of 50.94% and a net margin of 6.44%.The company had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the prior year, the business earned $0.63 earnings per share. The business’s revenue for the quarter was up 15.5% on a year-over-year basis. Analysts predict that Cinemark will post 2.36 EPS for the current fiscal year.

Cinemark Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Wednesday, August 26th will be given a dividend of $0.09 per share. The ex-dividend date is Wednesday, August 26th. This represents a $0.36 annualized dividend and a dividend yield of 1.0%. Cinemark’s payout ratio is currently 21.30%.

Hedge Funds Weigh In On Cinemark

Several large investors have recently bought and sold shares of CNK. EverSource Wealth Advisors LLC raised its position in shares of Cinemark by 118.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 935 shares of the company’s stock valued at $28,000 after acquiring an additional 507 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in Cinemark in the second quarter valued at about $32,000. Leonteq Securities AG acquired a new position in Cinemark in the fourth quarter valued at about $83,000. Kestra Advisory Services LLC bought a new position in Cinemark during the fourth quarter worth about $102,000. Finally, KBC Group NV grew its position in shares of Cinemark by 56.9% during the 1st quarter. KBC Group NV now owns 4,334 shares of the company’s stock worth $124,000 after buying an additional 1,572 shares during the period.

Cinemark Company Profile

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.