Cinemark (NYSE:CNK) Trading Down 5.3% – Should You Sell?

Cinemark Holdings Inc (NYSE:CNK) traded down 5.3% during trading on Monday . The stock traded as low as $29.84 and last traded at $29.8570. Approximately 170,308 shares traded hands during mid-day trading, a decline of 93% from the average session volume of 2,334,067 shares. The stock had previously closed at $31.53.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CNK. Zacks Research lowered Cinemark from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 2nd. Wells Fargo & Company lifted their price objective on Cinemark from $32.00 to $36.00 and gave the stock an “overweight” rating in a research report on Thursday, April 9th. B. Riley Financial lifted their price objective on Cinemark from $34.00 to $36.00 and gave the stock a “neutral” rating in a research report on Thursday, June 11th. Roth Mkm reissued a “buy” rating and set a $37.00 price objective on shares of Cinemark in a report on Thursday, April 23rd. Finally, Morgan Stanley upped their target price on shares of Cinemark from $30.00 to $36.00 and gave the company an “equal weight” rating in a research report on Tuesday, June 9th. Ten investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Cinemark currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.64.

Cinemark Stock Down 5.7%

The business’s fifty day simple moving average is $29.87 and its 200 day simple moving average is $27.31. The company has a current ratio of 0.62, a quick ratio of 0.58 and a debt-to-equity ratio of 5.03. The stock has a market cap of $3.47 billion, a price-to-earnings ratio of 26.39 and a beta of 0.98.

Cinemark (NYSE:CNK) last issued its earnings results on Friday, May 1st. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The business had revenue of $643.10 million for the quarter, compared to the consensus estimate of $632.74 million. Cinemark had a net margin of 5.31% and a return on equity of 41.31%. The business’s revenue was up 18.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.32) EPS. Equities analysts forecast that Cinemark Holdings Inc will post 2.18 earnings per share for the current fiscal year.

Cinemark Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Thursday, May 28th were paid a dividend of $0.09 per share. The ex-dividend date of this dividend was Thursday, May 28th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.2%. Cinemark’s payout ratio is 31.86%.

Hedge Funds Weigh In On Cinemark

Hedge funds have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Cinemark by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,699 shares of the company’s stock worth $1,635,000 after buying an additional 2,872 shares during the period. Woodline Partners LP acquired a new stake in shares of Cinemark in the 1st quarter valued at approximately $570,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Cinemark by 8.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 345,258 shares of the company’s stock valued at $8,593,000 after acquiring an additional 25,490 shares during the period. Acadian Asset Management LLC bought a new position in Cinemark during the 1st quarter worth approximately $372,000. Finally, Russell Investments Group Ltd. boosted its stake in Cinemark by 48.0% during the 2nd quarter. Russell Investments Group Ltd. now owns 5,228 shares of the company’s stock worth $158,000 after acquiring an additional 1,696 shares during the last quarter.

Cinemark Company Profile

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.