Cinemark Holdings Inc (NYSE:CNK) Stock Has Consensus Target Price of $37.93 According to Analysts

Shares of Cinemark Holdings Inc (NYSE:CNK) have earned a consensus recommendation of “Moderate Buy” from the fifteen research firms that are covering the stock, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $37.93.

A number of analysts have recently issued reports on CNK shares. Roth Capital set a $40.00 price objective on shares of Cinemark in a report on Thursday, July 30th. Wells Fargo & Company increased their target price on shares of Cinemark from $31.00 to $34.00 and gave the stock an “equal weight” rating in a report on Friday, July 31st. JPMorgan Chase & Co. downgraded shares of Cinemark from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $40.00 to $39.00 in a research report on Friday, August 14th. Weiss Ratings upgraded shares of Cinemark from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. Finally, Wedbush lifted their price target on shares of Cinemark from $40.00 to $43.00 and gave the company an “outperform” rating in a research note on Friday, July 31st.

Institutional Trading of Cinemark

A number of hedge funds and other institutional investors have recently modified their holdings of CNK. BlackRock Inc. bought a new position in shares of Cinemark in the 2nd quarter valued at about $530,855,000. Park West Asset Management LLC acquired a new position in shares of Cinemark during the 2nd quarter worth about $40,707,000. Bank of New York Mellon Corp acquired a new position in shares of Cinemark during the 2nd quarter worth about $29,387,000. Bank of America Corp DE bought a new stake in shares of Cinemark in the 2nd quarter valued at about $23,498,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Cinemark in the 2nd quarter valued at about $22,657,000.

Cinemark Stock Performance

Shares of CNK stock remained flat at $38.52 on Friday. The stock had a trading volume of 2,468,501 shares, compared to its average volume of 2,020,786. The company has a debt-to-equity ratio of 3.87, a current ratio of 0.84 and a quick ratio of 0.81. The stock has a market cap of $4.46 billion, a price-to-earnings ratio of 22.79 and a beta of 1.03. The business has a fifty day moving average of $36.42 and a 200-day moving average of $32.65. Cinemark has a 52 week low of $21.60 and a 52 week high of $39.79.

Cinemark (NYSE:CNK) last posted its quarterly earnings data on Thursday, July 30th. The company reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.16. Cinemark had a return on equity of 50.94% and a net margin of 6.44%. The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same period last year, the company earned $0.63 earnings per share. Cinemark’s quarterly revenue was up 15.5% on a year-over-year basis. As a group, research analysts forecast that Cinemark will post 2.53 EPS for the current fiscal year.

Cinemark Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 9th. Stockholders of record on Wednesday, August 26th were issued a $0.09 dividend. The ex-dividend date was Wednesday, August 26th. This represents a $0.36 annualized dividend and a dividend yield of 0.9%. Cinemark’s dividend payout ratio (DPR) is presently 21.30%.

About Cinemark

Cinemark Holdings, Inc is a motion picture exhibition company that operates movie theaters in the United States and Latin America. Through its Cinemark and other regional theater brands, the company shows first-run films and provides audiences with large-format entertainment experiences.

Cinemark’s services include movie ticketing, food and beverage concessions, premium seating, and enhanced presentation formats such as its XD auditoriums. The company also offers customer loyalty programs, advertising opportunities, private theater rentals, and other event-based entertainment services.

Founded in 1987 by Lee Roy Mitchell, Cinemark is headquartered in Plano, Texas.