Cinemark (NYSE:CNK) Coverage Initiated at Credit Suisse Group

Credit Suisse Group assumed coverage on shares of Cinemark (NYSE:CNK) in a report issued on Friday morning, BenzingaRatingsTable reports. The brokerage issued an outperform rating and a $43.00 target price on the stock.

CNK has been the subject of several other reports. Loop Capital reissued a hold rating on shares of AMC Entertainment in a research report on Wednesday, July 3rd. ValuEngine upgraded Zynerba Pharmaceuticals from a sell rating to a hold rating in a research note on Monday, April 1st. Wedbush set a $13.00 price objective on SLM and gave the company a buy rating in a research note on Monday, April 22nd. Finally, MKM Partners dropped their price objective on Cinemark to $43.00 and set a buy rating on the stock in a research note on Monday, July 15th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Cinemark has a consensus rating of Buy and a consensus price target of $44.40.

Shares of NYSE CNK opened at $36.94 on Friday. The company’s 50 day moving average is $37.31. Cinemark has a 52 week low of $34.03 and a 52 week high of $43.51. The company has a quick ratio of 0.80, a current ratio of 0.83 and a debt-to-equity ratio of 2.18. The firm has a market capitalization of $4.35 billion, a PE ratio of 20.19, a PEG ratio of 1.07 and a beta of 0.73.

Cinemark (NYSE:CNK) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.24 by $0.04. Cinemark had a return on equity of 12.61% and a net margin of 5.85%. The firm had revenue of $714.70 million during the quarter, compared to analysts’ expectations of $688.51 million. During the same period in the prior year, the firm posted $0.53 earnings per share. The business’s quarterly revenue was down 8.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Cinemark will post 2.3 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 24th. Shareholders of record on Monday, June 10th were paid a $0.34 dividend. The ex-dividend date of this dividend was Friday, June 7th. This represents a $1.36 annualized dividend and a yield of 3.68%. Cinemark’s dividend payout ratio is 74.32%.

In other Cinemark news, insider Valmir Fernandes sold 4,033 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $43.00, for a total value of $173,419.00. Following the sale, the insider now owns 114,961 shares in the company, valued at $4,943,323. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 9.00% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Quadrant Capital Group LLC increased its stake in shares of Cinemark by 766.1% during the first quarter. Quadrant Capital Group LLC now owns 1,429 shares of the company’s stock worth $55,000 after purchasing an additional 1,264 shares during the period. Marshall Wace LLP bought a new position in shares of Cinemark during the first quarter worth approximately $65,000. Cutler Group LP bought a new position in shares of Cinemark during the first quarter worth approximately $115,000. Starr International Co. Inc. bought a new position in shares of Cinemark during the first quarter worth approximately $154,000. Finally, QS Investors LLC bought a new position in shares of Cinemark during the fourth quarter worth approximately $162,000. Institutional investors own 98.19% of the company’s stock.

Cinemark Company Profile

Cinemark Holdings, Inc, together with its subsidiaries, engages in the motion picture exhibition business. As of December 31, 2018, it operated 341 theatres and 4,586 screens in 41 states of the United States; and 205 theatres and 1,462 screens in Brazil, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Bolivia, Curacao, and Paraguay.

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Analyst Recommendations for Cinemark (NYSE:CNK)

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