Cinemark (NYSE:CNK) Price Target Raised to $41.00

Cinemark (NYSE:CNK) had its price objective boosted by JPMorgan Chase & Co. from $39.00 to $41.00 in a research note released on Friday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other analysts have also recently commented on the company. Wells Fargo & Company lifted their price objective on Cinemark from $31.00 to $34.00 and gave the stock an “equal weight” rating in a research report on Friday, July 31st. Roth Capital reissued a “buy” rating and issued a $45.00 target price on shares of Cinemark in a research note on Friday. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $40.00 target price on shares of Cinemark in a report on Friday, July 31st. The Goldman Sachs Group raised shares of Cinemark from a “sell” rating to a “neutral” rating and raised their price target for the stock from $23.00 to $30.00 in a research note on Wednesday, July 8th. Finally, B. Riley Financial reiterated a “neutral” rating on shares of Cinemark in a report on Monday, October 19th. One investment 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’s stock. According to MarketBeat.com, Cinemark has a consensus rating of “Moderate Buy” and an average target price of $38.43.

Cinemark Trading Up 0.1%

Shares of Cinemark stock opened at $39.70 on Friday. Cinemark has a 1 year low of $21.60 and a 1 year high of $40.53. The company has a debt-to-equity ratio of 3.87, a current ratio of 0.84 and a quick ratio of 0.81. The business has a 50 day moving average price of $36.66 and a 200 day moving average price of $33.06. The company has a market capitalization of $4.60 billion, a P/E ratio of 23.49 and a beta of 1.03.

Cinemark (NYSE:CNK) last announced its earnings results on Thursday, July 30th. The company reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.16. The firm had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Cinemark had a return on equity of 50.94% and a net margin of 6.44%. Cinemark’s quarterly revenue was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.63 EPS. Sell-side analysts anticipate that Cinemark will post 2.66 EPS for the current fiscal year.

Cinemark Announces Dividend

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

Hedge Funds Weigh In On Cinemark

Several large investors have recently added to or reduced their stakes in CNK. Tectonic Advisors LLC boosted its stake in Cinemark by 25.7% in the 3rd quarter. Tectonic Advisors LLC now owns 52,565 shares of the company’s stock worth $1,961,000 after buying an additional 10,762 shares during the last quarter. Sterling Capital Management LLC increased its stake in shares of Cinemark by 2,719.8% during the 3rd quarter. Sterling Capital Management LLC now owns 10,546 shares of the company’s stock valued at $393,000 after acquiring an additional 10,172 shares during the last quarter. Oakmont Investment Advisors Inc. acquired a new position in shares of Cinemark during the 3rd quarter valued at about $541,000. Nisa Investment Advisors LLC increased its stake in shares of Cinemark by 17.2% during the 3rd quarter. Nisa Investment Advisors LLC now owns 8,706 shares of the company’s stock valued at $325,000 after acquiring an additional 1,277 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. purchased a new position in shares of Cinemark during the 3rd quarter worth about $2,909,000.

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.