Cinemark Holdings Inc (NYSE:CNK) announced a quarterly dividend on Friday, August 11th, Wall Street Journal reports. Investors of record on Thursday, August 31st will be given a dividend of 0.29 per share on Wednesday, September 13th. This represents a $1.16 annualized dividend and a yield of 3.14%. The ex-dividend date is Tuesday, August 29th.
Cinemark Holdings has increased its dividend by an average of 5.5% annually over the last three years. Cinemark Holdings has a dividend payout ratio of 54.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Cinemark Holdings to earn $2.33 per share next year, which means the company should continue to be able to cover its $1.16 annual dividend with an expected future payout ratio of 49.8%.
Cinemark Holdings (NYSE:CNK) traded up 0.35% during midday trading on Friday, reaching $36.95. 883,998 shares of the company traded hands. The firm has a market capitalization of $4.28 billion, a PE ratio of 15.79 and a beta of 1.03. The company’s 50-day moving average price is $38.26 and its 200 day moving average price is $41.23. Cinemark Holdings has a 12 month low of $36.60 and a 12 month high of $44.84.
Cinemark Holdings (NYSE:CNK) last released its earnings results on Friday, August 4th. The company reported $0.44 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.44. The company had revenue of $751.20 million for the quarter, compared to analyst estimates of $751.72 million. Cinemark Holdings had a net margin of 9.12% and a return on equity of 20.98%. The firm’s quarterly revenue was up .9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.46 EPS. On average, equities analysts anticipate that Cinemark Holdings will post $2.16 earnings per share for the current year.
A number of research firms have issued reports on CNK. B. Riley restated a “buy” rating and issued a $53.50 target price on shares of Cinemark Holdings in a report on Tuesday, April 18th. ValuEngine lowered shares of Cinemark Holdings from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Piper Jaffray Companies began coverage on shares of Cinemark Holdings in a report on Friday. They issued an “overweight” rating and a $44.00 target price on the stock. MKM Partners restated a “buy” rating and issued a $50.00 target price (up from $48.00) on shares of Cinemark Holdings in a report on Wednesday, April 26th. Finally, Wedbush restated a “buy” rating on shares of Cinemark Holdings in a report on Monday. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $43.14.
About Cinemark Holdings
Cinemark Holdings, Inc is engaged in the motion picture exhibition business with theatres in the United States (U.S.), Brazil, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Paraguay, Curacao and Bolivia. The Company manages its business in two segments: U.S.
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