Cinemark (NYSE:CNK) Upgraded by Wall Street Zen to Strong-Buy Rating

Wall Street Zen upgraded shares of Cinemark (NYSE:CNK) from a buy rating to a strong-buy rating in a report published on Saturday.

Other analysts also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $40.00 price objective on shares of Cinemark in a research note on Friday, July 31st. The Goldman Sachs Group raised Cinemark from a “sell” rating to a “neutral” rating and upped their target price for the company from $23.00 to $30.00 in a research note on Wednesday, July 8th. Zacks Research upgraded Cinemark from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 4th. B. Riley Financial raised their price target on Cinemark from $35.00 to $37.00 and gave the stock a “neutral” rating in a research note on Friday, July 31st. Finally, Moffett Nathanson restated a “buy” rating and set a $40.00 price objective on shares of Cinemark in a report on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $37.93.

Cinemark Price Performance

NYSE:CNK opened at $37.37 on Friday. The firm has a market capitalization of $4.33 billion, a price-to-earnings ratio of 22.11 and a beta of 1.00. 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 business has a 50 day simple moving average of $33.29 and a 200-day simple moving average of $29.46. Cinemark has a 1 year low of $21.60 and a 1 year high of $38.98.

Cinemark (NYSE:CNK) last issued its quarterly earnings results 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. The company had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.03 billion. Cinemark had a return on equity of 50.94% and a net margin of 6.44%.Cinemark’s revenue was up 15.5% on a year-over-year basis. During the same period last year, the company earned $0.63 earnings per share. Equities analysts forecast that Cinemark will post 2.34 EPS for the current year.

Cinemark Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Wednesday, August 26th will be issued a $0.09 dividend. The ex-dividend date is Wednesday, August 26th. This represents a $0.36 annualized dividend and a dividend yield of 1.0%. Cinemark’s payout ratio is currently 21.30%.

Hedge Funds Weigh In On Cinemark

A number of hedge funds and other institutional investors have recently modified their holdings of CNK. State of New Jersey Common Pension Fund D purchased a new position in Cinemark in the fourth quarter valued at about $1,661,000. UBS Group AG raised its holdings in Cinemark by 49.8% in the fourth quarter. UBS Group AG now owns 1,100,402 shares of the company’s stock worth $25,573,000 after purchasing an additional 365,630 shares in the last quarter. GHP Investment Advisors Inc. lifted its position in shares of Cinemark by 80.1% during the first quarter. GHP Investment Advisors Inc. now owns 41,764 shares of the company’s stock valued at $1,191,000 after buying an additional 18,579 shares during the last quarter. Sei Investments Co. lifted its position in shares of Cinemark by 113.9% during the first quarter. Sei Investments Co. now owns 162,635 shares of the company’s stock valued at $4,638,000 after buying an additional 86,585 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in shares of Cinemark by 53.2% in the 1st quarter. Janus Henderson Group PLC now owns 376,632 shares of the company’s stock valued at $10,742,000 after buying an additional 130,785 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.