Cinemark Holdings, Inc. (NYSE:CNK) Announces $0.08 — Dividend

Cinemark Holdings, Inc. (NYSE:CNK) declared a — dividend on Wednesday, February 19th, Wall Street Journal reports. Stockholders of record on Wednesday, March 5th will be paid a dividend of 0.08 per share on Wednesday, March 19th. The ex-dividend date of this dividend is Wednesday, March 5th.

Cinemark has a payout ratio of 15.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Cinemark to earn $2.58 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 12.4%.

Cinemark Price Performance

Shares of NYSE:CNK opened at $25.59 on Monday. The business’s fifty day moving average price is $29.72 and its two-hundred day moving average price is $29.81. The stock has a market cap of $3.13 billion, a PE ratio of 12.61 and a beta of 2.38. The company has a debt-to-equity ratio of 3.28, a quick ratio of 0.96 and a current ratio of 1.01. Cinemark has a one year low of $16.32 and a one year high of $36.28.

Cinemark (NYSE:CNK) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.06). The company had revenue of $814.30 million during the quarter, compared to analysts’ expectations of $797.18 million. Cinemark had a net margin of 10.16% and a return on equity of 65.83%. The company’s revenue for the quarter was up 27.5% compared to the same quarter last year. During the same period last year, the business earned ($0.15) earnings per share. On average, analysts forecast that Cinemark will post 1.93 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CNK has been the topic of several recent analyst reports. Wedbush reissued a “neutral” rating and set a $32.00 target price on shares of Cinemark in a report on Tuesday, February 18th. StockNews.com upgraded shares of Cinemark from a “sell” rating to a “hold” rating in a report on Sunday, November 10th. JPMorgan Chase & Co. reduced their price objective on shares of Cinemark from $31.00 to $30.00 and set a “neutral” rating for the company in a research note on Thursday, February 20th. Barrington Research reaffirmed an “outperform” rating and set a $40.00 price objective on shares of Cinemark in a research report on Wednesday, February 19th. Finally, Benchmark decreased their price objective on shares of Cinemark from $40.00 to $35.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $32.70.

Insider Transactions at Cinemark

In related news, insider Wanda Marie Gierhart sold 9,119 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $27.00, for a total transaction of $246,213.00. Following the transaction, the insider now directly owns 147,414 shares of the company’s stock, valued at $3,980,178. This trade represents a 5.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.30% of the stock is currently owned by corporate insiders.

Cinemark Company Profile

Cinemark Holdings, Inc, together with its subsidiaries, engages in the motion picture exhibition business. As of February 16, 2024, it operated 501 theatres with 5,719 screens in 42 states and 13 countries in South and Central America. Cinemark Holdings, Inc was founded in 1984 and is headquartered in Plano, Texas.