Cinemark Holdings Inc $CNK Position Cut by Royal Bank of Canada

Royal Bank of Canada reduced its holdings in Cinemark Holdings Inc (NYSE:CNK) by 98.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,891 shares of the company’s stock after selling 318,387 shares during the quarter. Royal Bank of Canada’s holdings in Cinemark were worth $168,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Maryland State Retirement & Pension System boosted its position in Cinemark by 3.1% during the 4th quarter. Maryland State Retirement & Pension System now owns 15,157 shares of the company’s stock worth $352,000 after acquiring an additional 449 shares during the period. Gabelli Funds LLC increased its holdings in shares of Cinemark by 0.5% during the first quarter. Gabelli Funds LLC now owns 101,866 shares of the company’s stock valued at $2,905,000 after purchasing an additional 490 shares during the period. Oregon Public Employees Retirement Fund increased its holdings in shares of Cinemark by 2.2% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 23,584 shares of the company’s stock valued at $548,000 after purchasing an additional 507 shares during the period. EverSource Wealth Advisors LLC increased its holdings 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 period. Finally, ProShare Advisors LLC raised its stake in shares of Cinemark by 3.2% during the fourth quarter. ProShare Advisors LLC now owns 20,176 shares of the company’s stock valued at $469,000 after purchasing an additional 619 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CNK. Zacks Research raised shares of Cinemark from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 4th. Barrington Research set a $42.00 target price on shares of Cinemark in a research note on Thursday, July 30th. B. Riley Financial boosted their price target on shares of Cinemark from $35.00 to $37.00 and gave the stock a “neutral” rating in a research report on Friday, July 31st. Wedbush upped their price target on shares of Cinemark from $40.00 to $43.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Finally, Guggenheim set a $37.00 price objective on shares of Cinemark in a report on Thursday, July 2nd. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Cinemark currently has a consensus rating of “Moderate Buy” and an average price target of $37.93.

Cinemark Stock Down 1.5%

Shares of CNK stock opened at $36.04 on Friday. Cinemark Holdings Inc has a 1 year low of $21.60 and a 1 year high of $38.98. The company has a debt-to-equity ratio of 3.87, a quick ratio of 0.81 and a current ratio of 0.84. The business’s fifty day moving average is $34.10 and its 200-day moving average is $30.35. The stock has a market cap of $4.18 billion, a PE ratio of 21.33 and a beta of 1.00.

Cinemark (NYSE:CNK) last announced its quarterly earnings data on Thursday, July 30th. The company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.16. Cinemark had a return on equity of 50.94% and a net margin of 6.44%.The business had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the prior year, the firm posted $0.63 earnings per share. The company’s revenue was up 15.5% on a year-over-year basis. Equities analysts expect that Cinemark Holdings Inc will post 2.36 earnings per share for the current fiscal year.

Cinemark Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Wednesday, August 26th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Wednesday, August 26th. Cinemark’s dividend payout ratio is presently 21.30%.

Cinemark 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.