Cinemark Holdings Inc. (CNK) Trading 1.8% Higher
Cinemark Holdings Inc. (NYSE:CNK) traded up 1.8% during mid-day trading on Wednesday . The company traded as high as $38.66 and last traded at $38.59, with a volume of 289,617 shares. The stock had previously closed at $37.90.
A number of equities research analysts have issued reports on the stock. B. Riley reiterated a “neutral” rating and set a $41.75 target price on shares of Cinemark Holdings in a report on Wednesday, May 4th. Zacks Investment Research upgraded shares of Cinemark Holdings from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a report on Monday, May 2nd. Credit Suisse Group AG reiterated a “neutral” rating and set a $33.00 target price on shares of Cinemark Holdings in a report on Sunday, June 12th. Wedbush increased their target price on shares of Cinemark Holdings from $36.00 to $40.00 and gave the stock a “neutral” rating in a report on Wednesday, May 11th. Finally, Stifel Nicolaus reissued a “buy” rating on shares of Cinemark Holdings in a research report on Friday, June 10th. One analyst has rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the stock. Cinemark Holdings currently has a consensus rating of “Hold” and an average price target of $40.57.
The firm has a 50 day moving average price of $37.67 and a 200 day moving average price of $35.12. The firm has a market capitalization of $4.46 billion and a PE ratio of 20.66.
Cinemark Holdings (NYSE:CNK) last posted its quarterly earnings data on Tuesday, August 9th. The company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.51 by $0.05. The company had revenue of $744.40 million for the quarter, compared to analyst estimates of $746.05 million. The firm’s revenue for the quarter was down 6.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.61 earnings per share. On average, equities analysts forecast that Cinemark Holdings Inc. will post $1.94 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 13th. Investors of record on Wednesday, August 31st will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 2.80%. The ex-dividend date of this dividend is Monday, August 29th.
In other Cinemark Holdings news, insider Valmir Fernandes sold 17,983 shares of the company’s stock in a transaction dated Wednesday, June 1st. The shares were sold at an average price of $35.78, for a total value of $643,431.74. Following the completion of the sale, the insider now directly owns 79,645 shares of the company’s stock, valued at approximately $2,849,698.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
An institutional investor recently raised its position in Cinemark Holdings stock. Principal Financial Group Inc. raised its position in shares of Cinemark Holdings Inc. (NYSE:CNK) by 2.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 328,443 shares of the company’s stock after buying an additional 8,785 shares during the period. Principal Financial Group Inc. owned approximately 0.29% of Cinemark Holdings worth $10,979,000 as of its most recent filing with the SEC.
Cinemark Holdings, Inc (Cinemark) is engaged in the motion picture exhibition business with theatres in the United States, Brazil, Mexico, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Curacao and Bolivia. The Company manages its business in two segments: United States markets and international markets.
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