Cinemark Holdings Inc (CNK) Receives Average Recommendation of “Hold” from Brokerages
Cinemark Holdings Inc (NYSE:CNK) has earned a consensus recommendation of “Hold” from the eighteen brokerages that are covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $42.16.
Several research analysts have recently commented on CNK shares. Credit Suisse Group lowered shares of Cinemark Holdings from a “neutral” rating to an “underperform” rating and decreased their price target for the company from $38.00 to $34.00 in a report on Thursday, June 22nd. Zacks Investment Research downgraded shares of Cinemark Holdings from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. ValuEngine downgraded shares of Cinemark Holdings from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Royal Bank Of Canada set a $43.00 price objective on shares of Cinemark Holdings and gave the company a “hold” rating in a research report on Sunday, September 10th. Finally, Moffett Nathanson downgraded shares of Cinemark Holdings from a “neutral” rating to a “sell” rating and set a $33.00 price objective on the stock. in a research report on Monday, June 12th.
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In related news, CEO Mark Zoradi purchased 5,000 shares of the company’s stock in a transaction on Friday, September 8th. The shares were bought at an average cost of $32.19 per share, for a total transaction of $160,950.00. Following the transaction, the chief executive officer now owns 172,456 shares of the company’s stock, valued at $5,551,358.64. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 9.10% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the business. Advisor Group Inc. raised its position in shares of Cinemark Holdings by 2.3% during the 2nd quarter. Advisor Group Inc. now owns 3,767 shares of the company’s stock worth $145,000 after buying an additional 84 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of Cinemark Holdings in the 2nd quarter worth approximately $146,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Cinemark Holdings by 9.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,792 shares of the company’s stock worth $147,000 after purchasing an additional 330 shares during the last quarter. Advisors Asset Management Inc. grew its stake in shares of Cinemark Holdings by 224.8% in the 2nd quarter. Advisors Asset Management Inc. now owns 4,752 shares of the company’s stock worth $185,000 after purchasing an additional 3,289 shares during the last quarter. Finally, Vident Investment Advisory LLC acquired a new position in shares of Cinemark Holdings in the 1st quarter worth approximately $200,000. Institutional investors own 90.13% of the company’s stock.
Shares of Cinemark Holdings (CNK) opened at 35.23 on Wednesday. The stock has a 50 day moving average of $35.22 and a 200-day moving average of $39.67. Cinemark Holdings has a one year low of $32.03 and a one year high of $44.84. The stock has a market capitalization of $4.08 billion, a PE ratio of 15.06 and a beta of 1.06.
Cinemark Holdings (NYSE:CNK) last posted its quarterly earnings results on Friday, August 4th. The company reported $0.44 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.44. Cinemark Holdings had a net margin of 9.12% and a return on equity of 20.98%. The business had revenue of $751.20 million during the quarter, compared to analyst estimates of $751.72 million. During the same period in the previous year, the business posted $0.46 EPS. The company’s quarterly revenue was up .9% on a year-over-year basis. Equities analysts predict that Cinemark Holdings will post $2.09 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 13th. Shareholders of record on Thursday, August 31st were given a dividend of $0.29 per share. The ex-dividend date was Tuesday, August 29th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.29%. Cinemark Holdings’s dividend payout ratio (DPR) is 49.57%.
About Cinemark Holdings
Cinemark Holdings, Inc is engaged in the motion picture exhibition business with theatres in the United States (U.S.), Brazil, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Paraguay, Curacao and Bolivia. The Company manages its business in two segments: U.S.
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