Cinemark (NYSE:CNK) Cut to “Buy” at Wall Street Zen

by · The Markets Daily

Wall Street Zen lowered shares of Cinemark (NYSE:CNK – Free Report) from a strong-buy rating to a buy rating in a research report released on Saturday,Wall Street Zen reports.

Several other equities research analysts have also weighed in on CNK. Roth Capital reiterated a “buy” rating and issued a $45.00 price objective on shares of Cinemark in a research note on Friday, October 23rd. JPMorgan Chase & Co. raised their target price on Cinemark from $39.00 to $41.00 and gave the stock a “neutral” rating in a research report on Friday, October 23rd. Zacks Research upgraded Cinemark from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 13th. Barrington Research set a $42.00 price target on Cinemark in a research note on Thursday, July 30th. Finally, Wells Fargo & Company upped their price target on Cinemark from $34.00 to $42.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 4th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, Cinemark has a consensus rating of “Moderate Buy” and an average target price of $39.57.

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Cinemark Price Performance

Shares of Cinemark stock opened at $40.77 on Friday. The firm has a market cap of $4.72 billion, a P/E ratio of 17.33 and a beta of 1.07. The firm’s 50-day simple moving average is $37.23 and its 200-day simple moving average is $31.73. Cinemark has a twelve month low of $21.60 and a twelve month high of $41.55. The company has a debt-to-equity ratio of 3.13, a quick ratio of 0.81 and a current ratio of 0.94.

Cinemark (NYSE:CNK – Get Free Report) last posted its quarterly earnings results on Tuesday, November 3rd. The company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.06. The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.04 billion. Cinemark had a net margin of 8.13% and a return on equity of 60.04%. The company’s quarterly revenue was up 23.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.40 earnings per share. As a group, research analysts expect that Cinemark will post 2.75 EPS for the current fiscal year.

Cinemark Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 9th. Shareholders of record on Wednesday, August 26th were given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.9%. The ex-dividend date was Wednesday, August 26th. Cinemark’s dividend payout ratio (DPR) is presently 15.45%.

Hedge Funds Weigh In On Cinemark

A number of institutional investors have recently modified their holdings of the stock. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Cinemark during the 2nd quarter worth approximately $22,657,000. Corient Private Wealth LP bought a new stake in shares of Cinemark during the second quarter worth approximately $1,222,000. Legal & General Group Plc acquired a new position in Cinemark in the second quarter valued at approximately $7,680,000. EP Wealth Advisors LLC acquired a new position in Cinemark in the second quarter valued at approximately $449,000. Finally, The Manufacturers Life Insurance Company acquired a new position in Cinemark in the second quarter valued at approximately $1,659,000.

About Cinemark

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Cinemark Holdings, Inc operates movie theaters in the United States and Latin America. Its theaters screen feature films and offer related entertainment experiences, including premium large-format presentations and in-theater amenities.

The company operates under brands including Cinemark, Century Theatres and Tinseltown. Its services include concessions, advertising, private events and its Cinemark Movie Club subscription program.

Cinemark traces its roots to 1984 and is headquartered in Plano, Texas.

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