Cinemark Holdings Inc (NYSE:CNK) Receives $34.46 Consensus PT from Brokerages

Shares of Cinemark Holdings Inc (NYSE:CNK) have earned a consensus recommendation of “Moderate Buy” from the fifteen brokerages that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $34.6429.

Several analysts have issued reports on the company. Roth Capital restated a “buy” rating and issued a $37.00 target price on shares of Cinemark in a research note on Thursday, April 23rd. B. Riley Financial upped their price target on shares of Cinemark from $34.00 to $36.00 and gave the company a “neutral” rating in a research note on Thursday, June 11th. Zacks Research downgraded shares of Cinemark from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 2nd. Benchmark lifted their price objective on shares of Cinemark from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, June 17th. Finally, Wells Fargo & Company boosted their target price on shares of Cinemark from $32.00 to $36.00 and gave the company an “overweight” rating in a report on Thursday, April 9th.

Cinemark Stock Up 1.0%

Shares of NYSE:CNK opened at $30.24 on Thursday. The stock has a market cap of $3.53 billion, a price-to-earnings ratio of 26.75 and a beta of 0.98. The company has a quick ratio of 0.58, a current ratio of 0.62 and a debt-to-equity ratio of 5.03. Cinemark has a 12-month low of $21.60 and a 12-month high of $34.73. The business’s 50 day moving average is $29.90 and its 200 day moving average is $27.36.

Cinemark (NYSE:CNK) last released its quarterly earnings results on Friday, May 1st. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). Cinemark had a net margin of 5.31% and a return on equity of 41.31%. The company had revenue of $643.10 million during the quarter, compared to analysts’ expectations of $632.74 million. During the same period in the previous year, the company posted ($0.32) earnings per share. The company’s quarterly revenue was up 18.9% compared to the same quarter last year. On average, sell-side analysts forecast that Cinemark will post 2.18 earnings per share for the current fiscal year.

Cinemark Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Thursday, May 28th were paid a $0.09 dividend. The ex-dividend date was Thursday, May 28th. This represents a $0.36 annualized dividend and a yield of 1.2%. Cinemark’s dividend payout ratio (DPR) is currently 31.86%.

Institutional Investors Weigh In On Cinemark

Institutional investors and hedge funds have recently modified their holdings of the company. Orbis Allan Gray Ltd boosted its position in shares of Cinemark by 31.0% in the fourth quarter. Orbis Allan Gray Ltd now owns 15,057,911 shares of the company’s stock valued at $349,946,000 after acquiring an additional 3,563,810 shares during the period. Wellington Management Group LLP increased its holdings in Cinemark by 8.4% during the 4th quarter. Wellington Management Group LLP now owns 9,536,900 shares of the company’s stock worth $221,638,000 after acquiring an additional 742,307 shares during the period. Lavaca Capital LLC bought a new stake in Cinemark during the 4th quarter worth approximately $133,045,000. State Street Corp lifted its stake in Cinemark by 1.5% in the 4th quarter. State Street Corp now owns 3,950,606 shares of the company’s stock worth $91,812,000 after purchasing an additional 60,176 shares in the last quarter. Finally, Alyeska Investment Group L.P. bought a new position in Cinemark in the 4th quarter valued at $55,296,000.

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.