Cinemark (CNK) Lowered to Hold at ValuEngine

ValuEngine lowered shares of Cinemark (NYSE:CNK) from a buy rating to a hold rating in a report released on Wednesday morning.

Several other analysts have also commented on CNK. Royal Bank of Canada raised their target price on Cinemark from $43.00 to $45.00 and gave the stock an outperform rating in a report on Monday, November 5th. Wedbush reaffirmed an outperform rating and set a $43.00 target price on shares of Cinemark in a report on Thursday, August 2nd. Imperial Capital raised their target price on Cinemark from $45.00 to $46.00 and gave the stock an outperform rating in a report on Friday, November 2nd. Zacks Investment Research lowered Cinemark from a buy rating to a hold rating in a report on Wednesday, July 25th. Finally, MKM Partners raised their target price on Cinemark to $47.00 and gave the stock a buy rating in a report on Wednesday, October 24th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of Buy and an average price target of $43.70.

Shares of NYSE:CNK opened at $37.09 on Wednesday. Cinemark has a 52-week low of $33.36 and a 52-week high of $44.00. The stock has a market capitalization of $4.34 billion, a PE ratio of 16.41, a PEG ratio of 1.21 and a beta of 0.80. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.24 and a quick ratio of 1.20.

Cinemark (NYSE:CNK) last announced its quarterly earnings data on Friday, November 2nd. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.09. Cinemark had a return on equity of 19.92% and a net margin of 9.12%. The firm had revenue of $754.20 million during the quarter, compared to analysts’ expectations of $730.27 million. During the same period last year, the business posted $0.33 earnings per share. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, equities analysts predict that Cinemark will post 2.05 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 18th. Investors of record on Tuesday, December 4th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 3.45%. The ex-dividend date of this dividend is Monday, December 3rd. Cinemark’s dividend payout ratio (DPR) is 56.64%.

In other Cinemark news, CFO Sean Gamble sold 7,468 shares of the firm’s stock in a transaction that occurred on Friday, November 9th. The stock was sold at an average price of $40.90, for a total value of $305,441.20. Following the sale, the chief financial officer now directly owns 92,673 shares of the company’s stock, valued at $3,790,325.70. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 8.90% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Bruderman Asset Management LLC grew its holdings in Cinemark by 76.6% in the second quarter. Bruderman Asset Management LLC now owns 4,000 shares of the company’s stock valued at $140,000 after purchasing an additional 1,735 shares during the period. Bessemer Group Inc. acquired a new stake in Cinemark in the third quarter valued at approximately $168,000. Stratos Wealth Partners LTD. acquired a new stake in Cinemark in the third quarter valued at approximately $171,000. Keybank National Association OH acquired a new stake in Cinemark in the third quarter valued at approximately $202,000. Finally, BB&T Corp acquired a new stake in Cinemark in the third quarter valued at approximately $225,000. 98.72% of the stock is currently owned by institutional investors.

About Cinemark

Cinemark Holdings, Inc, together with its subsidiaries, engages in the motion picture exhibition business. As of October 15, 2018, it operated 539 theatres with 5,998 screens in 41 states of the United States, Brazil, Argentina, Chile, and 12 other Latin American countries. The company was incorporated in 2006 and is headquartered in Plano, Texas.

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Analyst Recommendations for Cinemark (NYSE:CNK)

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