Cinemark (NYSE:CNK) Hits New 12-Month High – Time to Buy?

Cinemark Holdings Inc (NYSE:CNK)’s share price hit a new 52-week high during trading on Monday . The company traded as high as $34.73 and last traded at $34.1110, with a volume of 104102 shares changing hands. The stock had previously closed at $33.76.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CNK. Roth Mkm reaffirmed a “buy” rating and set a $37.00 price objective on shares of Cinemark in a research report on Thursday, April 23rd. Wells Fargo & Company boosted their target price on Cinemark from $32.00 to $36.00 and gave the company an “overweight” rating in a research note on Thursday, April 9th. Morgan Stanley upped their price target on Cinemark from $30.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Tuesday, June 9th. B. Riley Financial raised their price target on shares of Cinemark from $34.00 to $36.00 and gave the stock a “neutral” rating in a research note on Thursday, June 11th. Finally, Benchmark lifted their price objective on shares of Cinemark from $35.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, June 17th. Ten investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $34.46.

Cinemark Stock Up 1.9%

The firm has a market cap of $4.02 billion, a P/E ratio of 30.41 and a beta of 1.00. The company has a quick ratio of 0.58, a current ratio of 0.62 and a debt-to-equity ratio of 5.03. The firm has a fifty day moving average of $29.35 and a 200-day moving average of $26.71.

Cinemark (NYSE:CNK) last issued its quarterly earnings results on Friday, May 1st. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The company had revenue of $643.10 million for the quarter, compared to analyst estimates of $632.74 million. Cinemark had a net margin of 5.31% and a return on equity of 41.31%. The business’s revenue for the quarter was up 18.9% on a year-over-year basis. During the same period last year, the company posted ($0.32) earnings per share. On average, equities research analysts anticipate that Cinemark Holdings Inc will post 2.18 earnings per share for the current year.

Cinemark Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Thursday, May 28th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Thursday, May 28th. Cinemark’s dividend payout ratio is presently 31.86%.

Hedge Funds Weigh In On Cinemark

A number of institutional investors have recently added to or reduced their stakes in CNK. Maryland State Retirement & Pension System increased its position in Cinemark by 3.1% during the 4th quarter. Maryland State Retirement & Pension System now owns 15,157 shares of the company’s stock valued at $352,000 after purchasing an additional 449 shares during the period. Gabelli Funds LLC lifted its position in shares of Cinemark by 0.5% in the 1st quarter. Gabelli Funds LLC now owns 101,866 shares of the company’s stock worth $2,905,000 after purchasing an additional 490 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of Cinemark by 118.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 935 shares of the company’s stock valued at $28,000 after purchasing an additional 507 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its stake in shares of Cinemark by 2.2% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 23,584 shares of the company’s stock valued at $548,000 after purchasing an additional 507 shares during the last quarter. Finally, ProShare Advisors LLC increased its position in shares of Cinemark by 3.2% during the fourth quarter. ProShare Advisors LLC now owns 20,176 shares of the company’s stock worth $469,000 after buying an additional 619 shares during the period.

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.