Cinemark (NYSE:CNK) Sets New 52-Week High – Should You Buy?

Cinemark Holdings Inc (NYSE:CNK) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $34.73 and last traded at $34.1110, with a volume of 104102 shares trading hands. The stock had previously closed at $33.76.

Wall Street Analyst Weigh In

CNK has been the subject of a number of research analyst reports. Wells Fargo & Company increased their price objective on shares of Cinemark from $32.00 to $36.00 and gave the company an “overweight” rating in a report on Thursday, April 9th. JPMorgan Chase & Co. boosted their target price on shares of Cinemark from $35.00 to $36.00 and gave the stock an “overweight” rating in a report on Monday, May 4th. Roth Mkm reaffirmed a “buy” rating and set a $37.00 target price on shares of Cinemark in a research note on Thursday, April 23rd. Wall Street Zen raised shares of Cinemark from a “hold” rating to a “buy” rating in a report on Sunday, May 31st. Finally, Benchmark boosted their target price on Cinemark from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, June 17th. Ten research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $34.46.

Cinemark Trading Up 1.0%

The company has a market cap of $3.96 billion, a PE ratio of 30.03 and a beta of 1.00. The stock’s 50 day moving average is $29.48 and its 200-day moving average is $26.85. The company has a quick ratio of 0.58, a current ratio of 0.62 and a debt-to-equity ratio of 5.03.

Cinemark (NYSE:CNK) last announced its earnings results on Friday, May 1st. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The company had revenue of $643.10 million during the quarter, compared to analysts’ expectations of $632.74 million. Cinemark had a return on equity of 41.31% and a net margin of 5.31%.Cinemark’s revenue for the quarter was up 18.9% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.32) EPS. As a group, sell-side analysts anticipate that Cinemark Holdings Inc will post 2.18 EPS for the current year.

Cinemark Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Thursday, May 28th were paid a $0.09 dividend. The ex-dividend date of this dividend was Thursday, May 28th. This represents a $0.36 annualized dividend and a yield of 1.1%. Cinemark’s dividend payout ratio (DPR) is presently 31.86%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Intech Investment Management LLC grew its stake in Cinemark by 129.0% in the third quarter. Intech Investment Management LLC now owns 156,602 shares of the company’s stock worth $4,388,000 after purchasing an additional 88,203 shares in the last quarter. Jain Global LLC raised its holdings in shares of Cinemark by 37.4% in the third quarter. Jain Global LLC now owns 1,644,623 shares of the company’s stock valued at $46,082,000 after acquiring an additional 447,468 shares in the last quarter. Gabelli Funds LLC bought a new stake in shares of Cinemark in the third quarter valued at about $1,444,000. Cartenna Capital LP lifted its stake in Cinemark by 29.4% in the third quarter. Cartenna Capital LP now owns 1,650,000 shares of the company’s stock worth $46,233,000 after acquiring an additional 375,000 shares during the period. Finally, Marathon Asset Management LP purchased a new stake in Cinemark in the third quarter worth about $8,406,000.

About Cinemark

Cinemark Holdings, Inc (NYSE: CNK) is a leading theatrical exhibitor that acquires, develops and operates motion picture theatres under the Cinemark® brand in the United States and Latin America. The company’s core business involves the presentation of first-run feature films coupled with an array of in‐theatre services, including concessions, premium auditoriums and loyalty programs. Cinemark’s exhibition portfolio encompasses both corporate‐owned and franchised complexes, offering moviegoers a range of experiences from standard screens to large‐format halls.

The company’s product offerings extend beyond ticket sales to include an assortment of concession items, such as popcorn, fountain beverages, candy and specialty snacks, as well as bar and lounge concepts in select locations.