Cinemark (NYSE:CNK) Sets New 1-Year High – Should You Buy?

Cinemark Holdings Inc (NYSE:CNK) shares hit a new 52-week high during trading on Tuesday . The stock traded as high as $34.76 and last traded at $34.8180, with a volume of 486947 shares traded. The stock had previously closed at $33.66.

Analyst Upgrades and Downgrades

CNK has been the topic of several research analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Cinemark in a report on Wednesday, June 24th. B. Riley Financial lowered their price target on shares of Cinemark from $36.00 to $35.00 and set a “neutral” rating for the company in a report on Friday, July 17th. Roth Capital reissued a “buy” rating and issued a $38.00 target price on shares of Cinemark in a research note on Friday, July 17th. Wells Fargo & Company reissued an “equal weight” rating and set a $31.00 price objective (down from $36.00) on shares of Cinemark in a report on Thursday, July 16th. Finally, Zacks Research lowered shares of Cinemark from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 2nd. Eight investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.31.

Cinemark Stock Down 0.6%

The firm’s 50-day moving average is $31.19 and its 200 day moving average is $28.36. The firm has a market capitalization of $4.07 billion, a P/E ratio of 30.83 and a beta of 0.98. The company has a debt-to-equity ratio of 5.03, a quick ratio of 0.58 and a current ratio of 0.62.

Cinemark (NYSE:CNK) last released its quarterly earnings results on Thursday, July 30th. The company reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.16. Cinemark had a return on equity of 41.31% and a net margin of 5.31%.The firm had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the firm posted $0.63 EPS. The business’s revenue was up 15.5% on a year-over-year basis. As a group, equities research analysts predict that Cinemark Holdings Inc will post 2.15 EPS for the current fiscal year.

Cinemark Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Thursday, May 28th were paid a $0.09 dividend. The ex-dividend date was Thursday, May 28th. This represents a $0.36 dividend on an annualized basis and a yield of 1.0%. Cinemark’s dividend payout ratio (DPR) is currently 31.86%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CNK. State of New Jersey Common Pension Fund D bought a new position in Cinemark during the fourth quarter worth about $1,661,000. UBS Group AG increased its position in Cinemark by 49.8% during the fourth quarter. UBS Group AG now owns 1,100,402 shares of the company’s stock worth $25,573,000 after buying an additional 365,630 shares during the last quarter. GHP Investment Advisors Inc. raised its stake in Cinemark by 80.1% in the first quarter. GHP Investment Advisors Inc. now owns 41,764 shares of the company’s stock valued at $1,191,000 after buying an additional 18,579 shares during the period. Saber Capital Managment LLC bought a new stake in Cinemark in the fourth quarter valued at approximately $6,300,000. Finally, WINTON GROUP Ltd lifted its position in shares of Cinemark by 635.9% in the fourth quarter. WINTON GROUP Ltd now owns 177,734 shares of the company’s stock valued at $4,131,000 after buying an additional 153,582 shares during the last quarter.

About Cinemark

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.