Other research analysts have also recently issued reports about the company. B. Riley reissued a buy rating and issued a $52.50 target price on shares of Cinemark Holdings in a research note on Monday, February 27th. Wedbush boosted their target price on Cinemark Holdings from $40.00 to $43.00 and gave the company a neutral rating in a research note on Thursday, February 16th. Royal Bank of Canada cut Cinemark Holdings from an outperform rating to a sector perform rating and boosted their target price for the company from $43.00 to $45.00 in a research note on Monday, February 27th. Finally, FBR & Co boosted their target price on Cinemark Holdings from $42.00 to $46.00 and gave the company an outperform rating in a research note on Friday, February 24th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $43.19.
Cinemark Holdings (NYSE:CNK) opened at 43.26 on Wednesday. The company has a 50 day moving average price of $42.79 and a 200-day moving average price of $40.49. The company has a market capitalization of $5.00 billion, a P/E ratio of 19.75 and a beta of 0.97. Cinemark Holdings has a 52 week low of $32.60 and a 52 week high of $44.84.
Cinemark Holdings (NYSE:CNK) last posted its earnings results on Thursday, February 23rd. The company reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.22. Cinemark Holdings had a return on equity of 20.75% and a net margin of 8.06%. The firm earned $707.20 million during the quarter, compared to analysts’ expectations of $703.77 million. During the same period in the previous year, the firm earned $0.50 earnings per share. The company’s revenue was down .9% on a year-over-year basis. On average, equities analysts anticipate that Cinemark Holdings will post $2.27 earnings per share for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which was paid on Monday, March 20th. Stockholders of record on Wednesday, March 8th were given a dividend of $0.29 per share. This is a boost from Cinemark Holdings’s previous quarterly dividend of $0.27. This represents a $1.16 annualized dividend and a dividend yield of 2.68%. The ex-dividend date of this dividend was Monday, March 6th. Cinemark Holdings’s dividend payout ratio is currently 53.47%.
In other news, EVP Tom Owens sold 8,475 shares of the company’s stock in a transaction dated Monday, March 13th. The stock was sold at an average price of $44.00, for a total transaction of $372,900.00. Following the completion of the transaction, the executive vice president now directly owns 54,720 shares of the company’s stock, valued at $2,407,680. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael Cavalier sold 13,055 shares of the company’s stock in a transaction dated Wednesday, March 15th. The stock was sold at an average price of $44.03, for a total value of $574,811.65. Following the transaction, the executive vice president now directly owns 173,171 shares of the company’s stock, valued at $7,624,719.13. The disclosure for this sale can be found here. Insiders have sold 42,139 shares of company stock valued at $1,854,714 over the last ninety days. 9.20% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank purchased a new position in Cinemark Holdings during the fourth quarter valued at $32,487,000. Numeric Investors LLC bought a new stake in Cinemark Holdings during the fourth quarter valued at about $579,000. Thrivent Financial for Lutherans raised its stake in Cinemark Holdings by 1.4% in the fourth quarter. Thrivent Financial for Lutherans now owns 107,750 shares of the company’s stock valued at $4,133,000 after buying an additional 1,510 shares during the last quarter. Castleark Management LLC bought a new stake in Cinemark Holdings during the fourth quarter valued at about $12,053,000. Finally, Empire Life Investments Inc. bought a new stake in Cinemark Holdings during the fourth quarter valued at about $20,908,000. 90.73% of the stock is owned by institutional investors.
Cinemark Holdings Company Profile
Cinemark Holdings, Inc (Cinemark) is engaged in the motion picture exhibition business with theatres in the United States, Brazil, Mexico, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Curacao and Bolivia. The Company manages its business in two segments: United States markets and international markets.
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