Cinemark Holdings Inc (CNK) To Go Ex-Dividend on August 26th

Cinemark Holdings Inc (NYSE:CNK) declared a quarterly dividend on Wednesday, August 12th. Investors of record on Wednesday, August 26th will be given a dividend of 0.09 per share on Wednesday, September 9th. This represents a c) dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Wednesday, August 26th.

Cinemark has decreased its dividend payment by an average of 0.0%annually over the last three years. Cinemark has a dividend payout ratio of 16.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Cinemark to earn $2.66 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 13.5%.

Cinemark Price Performance

NYSE:CNK opened at $37.69 on Friday. Cinemark has a 52 week low of $21.60 and a 52 week high of $38.98. The company has a debt-to-equity ratio of 3.87, a quick ratio of 0.81 and a current ratio of 0.84. The firm’s 50-day simple moving average is $33.17 and its 200 day simple moving average is $29.40. The firm has a market cap of $4.37 billion, a price-to-earnings ratio of 22.30 and a beta of 1.00.

Cinemark (NYSE:CNK) last posted its quarterly earnings data on Thursday, July 30th. The company reported $1.19 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the previous year, the firm posted $0.63 EPS. The business’s revenue for the quarter was up 15.5% compared to the same quarter last year. As a group, sell-side analysts predict that Cinemark will post 2.34 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CNK. B. Riley Financial boosted their price target on Cinemark from $35.00 to $37.00 and gave the company a “neutral” rating in a research note on Friday, July 31st. The Goldman Sachs Group upgraded Cinemark from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $23.00 to $30.00 in a research note on Wednesday, July 8th. Barrington Research set a $42.00 price objective on Cinemark in a report on Thursday, July 30th. Wells Fargo & Company upped their target price on Cinemark from $31.00 to $34.00 and gave the company an “equal weight” rating in a research report on Friday, July 31st. Finally, Guggenheim set a $37.00 target price on Cinemark in a report on Thursday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $38.00.

Cinemark Company Profile

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.