Cinemark (CNK) Given “Buy” Rating at B. Riley

B. Riley reaffirmed their buy rating on shares of Cinemark (NYSE:CNK) in a research note released on Tuesday. The brokerage currently has a $47.00 price objective on the stock.

CNK has been the topic of several other reports. Credit Suisse Group lowered their target price on shares of Cinemark from $34.00 to $30.00 and set an underperform rating on the stock in a research report on Thursday, September 28th. Royal Bank Of Canada set a $43.00 target price on shares of Cinemark and gave the stock a hold rating in a research report on Sunday, September 10th. Morgan Stanley raised shares of Cinemark from an underweight rating to an equal weight rating and set a $38.00 target price on the stock in a research report on Thursday, October 5th. Wedbush reissued an outperform rating and set a $44.00 target price on shares of Cinemark in a research report on Thursday, October 5th. Finally, Zacks Investment Research downgraded shares of Cinemark from a hold rating to a sell rating in a research report on Thursday, October 12th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $42.31.

Cinemark (NYSE:CNK) traded down $0.74 during midday trading on Tuesday, hitting $35.67. 1,554,400 shares of the stock were exchanged, compared to its average volume of 1,100,301. Cinemark has a 1-year low of $32.03 and a 1-year high of $44.84. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.50 and a quick ratio of 1.46. The firm has a market capitalization of $4,240.56, a P/E ratio of 17.42, a PEG ratio of 1.21 and a beta of 1.18.

Cinemark (NYSE:CNK) last posted its quarterly earnings results on Friday, November 3rd. The company reported $0.33 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.02). The company had revenue of $710.70 million during the quarter, compared to analyst estimates of $702.60 million. Cinemark had a return on equity of 18.43% and a net margin of 8.36%. The company’s revenue was down 7.5% compared to the same quarter last year. During the same period last year, the company posted $0.56 earnings per share. analysts anticipate that Cinemark will post 2 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date is Thursday, November 30th. Cinemark’s dividend payout ratio (DPR) is 54.98%.

In other news, CEO Mark Zoradi purchased 5,000 shares of the firm’s stock in a transaction on Friday, September 8th. The stock was bought at an average cost of $32.19 per share, for a total transaction of $160,950.00. Following the completion of the acquisition, the chief executive officer now directly owns 172,456 shares of the company’s stock, valued at $5,551,358.64. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 9.10% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. Victory Capital Management Inc. lifted its stake in shares of Cinemark by 1,771.5% in the third quarter. Victory Capital Management Inc. now owns 3,510,900 shares of the company’s stock valued at $127,129,000 after buying an additional 3,323,302 shares during the period. FMR LLC lifted its stake in shares of Cinemark by 17.5% in the second quarter. FMR LLC now owns 11,685,034 shares of the company’s stock valued at $453,963,000 after buying an additional 1,742,861 shares during the period. Northwestern Mutual Investment Management Company LLC lifted its stake in shares of Cinemark by 5,955.5% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 1,103,558 shares of the company’s stock valued at $40,236,000 after buying an additional 1,085,334 shares during the period. Jennison Associates LLC lifted its stake in shares of Cinemark by 32.9% in the second quarter. Jennison Associates LLC now owns 3,988,676 shares of the company’s stock valued at $154,960,000 after buying an additional 988,361 shares during the period. Finally, AXA lifted its stake in shares of Cinemark by 1,227.3% in the second quarter. AXA now owns 504,240 shares of the company’s stock valued at $19,590,000 after buying an additional 466,250 shares during the period. Institutional investors own 94.63% of the company’s stock.

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About Cinemark

Cinemark Holdings, Inc is engaged in the motion picture exhibition business with theatres in the United States (U.S.), Brazil, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Paraguay, Curacao and Bolivia. The Company manages its business in two segments: U.S.

Analyst Recommendations for Cinemark (NYSE:CNK)

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