Cinemark (NYSE:CNK) Shares Up 5.6% – Should You Buy?

Cinemark Holdings Inc (NYSE:CNK)’s share price traded up 5.6% during mid-day trading on Monday . The stock traded as high as $38.70 and last traded at $38.64. Approximately 599,450 shares traded hands during trading, a decline of 75% from the average session volume of 2,397,536 shares. The stock had previously closed at $36.60.

Wall Street Analysts Forecast Growth

Several research firms have commented on CNK. Wall Street Zen upgraded shares of Cinemark from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 15th. Weiss Ratings raised shares of Cinemark from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday. Wells Fargo & Company lifted their price objective on Cinemark from $31.00 to $34.00 and gave the company an “equal weight” rating in a report on Friday, July 31st. Morgan Stanley set a $40.00 target price on Cinemark in a research report on Wednesday, July 29th. Finally, JPMorgan Chase & Co. lowered shares of Cinemark from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $40.00 to $39.00 in a research note on Friday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $37.93.

Cinemark Trading Up 5.5%

The stock has a market cap of $4.48 billion, a PE ratio of 22.84 and a beta of 1.00. 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 50 day moving average of $33.70 and a two-hundred day moving average of $29.97.

Cinemark (NYSE:CNK) last posted its quarterly earnings data on Thursday, July 30th. The company reported $1.19 EPS for the quarter, topping the consensus estimate of $1.03 by $0.16. The company had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.03 billion. Cinemark had a return on equity of 50.94% and a net margin of 6.44%.Cinemark’s quarterly revenue was up 15.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.63 EPS. Sell-side analysts anticipate that Cinemark Holdings Inc will post 2.36 earnings per share for the current fiscal year.

Cinemark Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Wednesday, August 26th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Wednesday, August 26th. Cinemark’s dividend payout ratio is 21.30%.

Institutional Investors Weigh In On Cinemark

A number of hedge funds have recently bought and sold shares of CNK. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Cinemark by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,699 shares of the company’s stock worth $1,635,000 after buying an additional 2,872 shares during the last quarter. Woodline Partners LP acquired a new position in shares of Cinemark in the first quarter valued at approximately $570,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Cinemark by 8.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 345,258 shares of the company’s stock worth $8,593,000 after acquiring an additional 25,490 shares during the period. Acadian Asset Management LLC purchased a new stake in Cinemark in the 1st quarter valued at approximately $372,000. Finally, Russell Investments Group Ltd. grew its holdings in Cinemark by 48.0% during the second quarter. Russell Investments Group Ltd. now owns 5,228 shares of the company’s stock worth $158,000 after acquiring an additional 1,696 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.