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

Cinemark Holdings Inc (NYSE:CNK)’s stock price hit a new 52-week high during mid-day trading on Wednesday. The company traded as high as $40.36 and last traded at $40.2490, with a volume of 3,335,702 shares. The stock had previously closed at $39.00.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Morgan Stanley cut their price target on shares of Cinemark from $42.00 to $40.00 and set an “equal weight” rating on the stock in a report on Thursday, September 24th. Wedbush boosted their price objective 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. Barrington Research set a $42.00 price objective on shares of Cinemark in a research note on Thursday, July 30th. B. Riley Financial reissued a “neutral” rating on shares of Cinemark in a research report on Monday. Finally, JPMorgan Chase & Co. downgraded shares of Cinemark from an “overweight” rating to a “neutral” rating and cut their target price for the company from $40.00 to $39.00 in a research note on Friday, August 14th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $37.93.

Cinemark Trading Down 0.6%

The company has a quick ratio of 0.81, a current ratio of 0.84 and a debt-to-equity ratio of 3.87. The firm has a market cap of $4.60 billion, a price-to-earnings ratio of 23.62 and a beta of 1.03. The business has a 50 day moving average price of $36.61 and a 200-day moving average price of $32.99.

Cinemark (NYSE:CNK) last announced its earnings results on Thursday, July 30th. The company reported $1.19 EPS for the quarter, beating the consensus estimate of $1.03 by $0.16. The business had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.03 billion. Cinemark had a return on equity of 50.94% and a net margin of 6.44%. The company’s revenue was up 15.5% on a year-over-year basis. During the same period last year, the business posted $0.63 EPS. As a group, research analysts expect that Cinemark Holdings Inc will post 2.62 EPS for the current fiscal year.

Cinemark Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 9th. Stockholders of record on Wednesday, August 26th were paid a dividend of $0.09 per share. The ex-dividend date was Wednesday, August 26th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.9%. Cinemark’s dividend payout ratio (DPR) is currently 21.30%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CNK. Public Employees Retirement System of Ohio purchased a new position in Cinemark in the 2nd quarter valued at about $32,000. TD Waterhouse Canada Inc. bought a new position in Cinemark during the third quarter worth $36,000. USA Financial Formulas acquired a new position in Cinemark in the third quarter valued at approximately $43,000. Integrated Wealth Concepts LLC acquired a new position in shares of Cinemark during the second quarter valued at $60,000. Finally, KBC Group NV grew its position in Cinemark by 56.9% in the 1st quarter. KBC Group NV now owns 4,334 shares of the company’s stock worth $124,000 after purchasing an additional 1,572 shares during the last quarter.

Cinemark Company Profile

Cinemark Holdings, Inc (NYSE: CNK) is a leading motion picture exhibition company that operates movie theaters in the United States and Latin America. Through its Cinemark and Century theater brands, the company provides audiences with theatrical entertainment, including first-run films, premium large-format presentations and enhanced viewing experiences.

Cinemark’s theaters generate revenue primarily through ticket sales and food and beverage concessions. Its offerings may include reserved seating, luxury reclining seats, Cinemark XD premium auditoriums, online and mobile ticketing, and loyalty programs such as Cinemark Movie Rewards.