Cinemark (NYSE:CNK) Hits New 12-Month High – Still a Buy?

Cinemark Holdings Inc (NYSE:CNK)’s stock price reached a new 52-week high during trading on Thursday. The stock traded as high as $39.09 and last traded at $38.6510, with a volume of 224,680 shares. The stock had previously closed at $38.20.

Wall Street Analyst Weigh In

CNK has been the subject of a number of research analyst reports. The Goldman Sachs Group raised Cinemark from a “sell” rating to a “neutral” rating and increased their target price for the company from $23.00 to $30.00 in a report on Wednesday, July 8th. Wells Fargo & Company lifted their price target on Cinemark from $31.00 to $34.00 and gave the stock an “equal weight” rating in a research note on Friday, July 31st. B. Riley Financial lifted their price target on Cinemark from $35.00 to $37.00 and gave the stock a “neutral” rating in a research note on Friday, July 31st. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $40.00 price target on shares of Cinemark in a research report on Friday, July 31st. Finally, Weiss Ratings raised Cinemark from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Cinemark has a consensus rating of “Moderate Buy” and a consensus price target of $37.93.

Cinemark Trading Up 1.5%

The company’s 50 day moving average price is $36.38 and its two-hundred day moving average price is $32.54. 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 stock has a market capitalization of $4.49 billion, a PE ratio of 22.94 and a beta of 1.03.

Cinemark (NYSE:CNK) last posted 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 net margin of 6.44% and a return on equity of 50.94%. The firm had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period in the previous year, the business posted $0.63 earnings per share. Cinemark’s quarterly revenue was up 15.5% on a year-over-year basis. As a group, analysts expect that Cinemark Holdings Inc will post 2.49 earnings per share for the current year.

Cinemark Announces Dividend

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC grew its position in shares of Cinemark by 7.8% in the third quarter. GAMMA Investing LLC now owns 5,371 shares of the company’s stock valued at $200,000 after purchasing an additional 389 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new position in Cinemark during the second quarter worth approximately $2,477,000. WINTON GROUP Ltd lifted its position in Cinemark by 637.5% during the second quarter. WINTON GROUP Ltd now owns 117,527 shares of the company’s stock worth $3,729,000 after buying an additional 101,592 shares in the last quarter. Engineers Gate Manager LP purchased a new position in Cinemark during the second quarter worth approximately $3,671,000. Finally, Integrated Wealth Concepts LLC acquired a new position in Cinemark during the second quarter worth $60,000.

About Cinemark

Cinemark Holdings, Inc is a motion picture exhibition company that operates movie theaters in the United States and Latin America. Through its Cinemark and other regional theater brands, the company shows first-run films and provides audiences with large-format entertainment experiences.

Cinemark’s services include movie ticketing, food and beverage concessions, premium seating, and enhanced presentation formats such as its XD auditoriums. The company also offers customer loyalty programs, advertising opportunities, private theater rentals, and other event-based entertainment services.

Founded in 1987 by Lee Roy Mitchell, Cinemark is headquartered in Plano, Texas.