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

Wall Street Zen upgraded shares of Cinemark (NYSE:CNK) from a hold rating to a buy rating in a research note released on Saturday morning.

CNK has been the topic of several other reports. UBS Group upgraded shares of Cinemark to a “buy” rating in a research report on Tuesday, January 20th. Macquarie Infrastructure decreased their price objective on shares of Cinemark from $36.00 to $34.00 and set an “outperform” rating on the stock in a research report on Thursday, January 15th. Zacks Research upgraded shares of Cinemark from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 4th. Moffett Nathanson upgraded shares of Cinemark from a “neutral” rating to a “buy” rating and set a $30.00 price objective on the stock in a research report on Tuesday, January 20th. Finally, B. Riley Financial restated a “neutral” rating on shares of Cinemark in a research report on Friday, April 17th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Cinemark presently has an average rating of “Moderate Buy” and an average price target of $33.31.

Cinemark Trading Down 1.5%

Shares of CNK opened at $27.05 on Friday. The business’s 50-day moving average price is $28.31 and its 200-day moving average price is $26.43. Cinemark has a twelve month low of $21.60 and a twelve month high of $34.01. The stock has a market cap of $3.16 billion, a PE ratio of 23.94 and a beta of 1.03. The company has a quick ratio of 0.67, a current ratio of 0.62 and a debt-to-equity ratio of 5.03.

Cinemark (NYSE:CNK) last announced its quarterly earnings results on Friday, May 1st. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $632.74 million. During the same quarter in the prior year, the company earned ($0.32) earnings per share. The company’s quarterly revenue was up 18.9% on a year-over-year basis. On average, equities analysts forecast that Cinemark will post 2.11 EPS for the current fiscal year.

Cinemark Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 17th. Shareholders of record on Tuesday, March 3rd were paid a $0.09 dividend. The ex-dividend date of this dividend was Tuesday, March 3rd. This represents a $0.36 annualized dividend and a yield of 1.3%. Cinemark’s dividend payout ratio is currently 31.86%.

Institutional Trading of Cinemark

Several hedge funds and other institutional investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. boosted its stake in Cinemark by 14.3% in the first quarter. PNC Financial Services Group Inc. now owns 7,613 shares of the company’s stock worth $217,000 after buying an additional 951 shares in the last quarter. KBC Group NV boosted its stake in Cinemark by 56.9% in the first quarter. KBC Group NV now owns 4,334 shares of the company’s stock worth $124,000 after buying an additional 1,572 shares in the last quarter. Swiss National Bank boosted its stake in Cinemark by 2.5% in the first quarter. Swiss National Bank now owns 209,200 shares of the company’s stock worth $5,966,000 after buying an additional 5,100 shares in the last quarter. Assetmark Inc. boosted its stake in Cinemark by 50.4% in the first quarter. Assetmark Inc. now owns 155,174 shares of the company’s stock worth $4,426,000 after buying an additional 52,027 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in Cinemark by 12.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 9,721 shares of the company’s stock worth $277,000 after buying an additional 1,041 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.