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

Cinemark Holdings Inc (NYSE:CNK)’s share price dropped 5.3% on Monday . The stock traded as low as $29.84 and last traded at $29.8570. Approximately 170,308 shares changed hands during trading, a decline of 93% from the average daily volume of 2,334,067 shares. The stock had previously closed at $31.53.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CNK. Barrington Research reissued an “outperform” rating and issued a $36.00 price target on shares of Cinemark in a research report on Monday, May 4th. Benchmark upped their price objective on Cinemark from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, June 17th. Zacks Research cut Cinemark from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 2nd. JPMorgan Chase & Co. increased their target price on Cinemark from $35.00 to $36.00 and gave the stock an “overweight” rating in a report on Monday, May 4th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Cinemark in a research report on Wednesday, June 24th. Ten investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Cinemark currently has an average rating of “Moderate Buy” and a consensus target price of $34.64.

Cinemark Trading Down 5.7%

The business has a 50 day simple moving average of $29.87 and a 200 day simple moving average of $27.31. The company has a debt-to-equity ratio of 5.03, a current ratio of 0.62 and a quick ratio of 0.58. The company 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 announced its earnings results on Friday, May 1st. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). Cinemark had a net margin of 5.31% and a return on equity of 41.31%. The business had revenue of $643.10 million during the quarter, compared to analyst estimates of $632.74 million. During the same quarter last year, the business posted ($0.32) earnings per share. The business’s quarterly revenue was up 18.9% compared to the same quarter last year. As a group, equities analysts forecast that Cinemark Holdings Inc will post 2.18 EPS for the current year.

Cinemark Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Thursday, May 28th were issued 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 yield of 1.2%. Cinemark’s dividend payout ratio is currently 31.86%.

Hedge Funds Weigh In On Cinemark

A number of institutional investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC grew its stake in shares of Cinemark by 118.5% during the second quarter. EverSource Wealth Advisors LLC now owns 935 shares of the company’s stock valued at $28,000 after purchasing an additional 507 shares during the last quarter. Leonteq Securities AG acquired a new stake in shares of Cinemark in the fourth quarter valued at approximately $83,000. GAMMA Investing LLC raised its position in Cinemark by 51.8% in the 4th quarter. GAMMA Investing LLC now owns 4,022 shares of the company’s stock worth $93,000 after purchasing an additional 1,372 shares during the last quarter. Kestra Advisory Services LLC bought a new position in Cinemark in the 4th quarter worth approximately $102,000. Finally, Bayforest Capital Ltd acquired a new position in Cinemark during the 4th quarter worth $121,000.

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.