Cinemark Holdings, Inc. (NYSE:CNK) announced a quarterly dividend on Friday, May 24th, Wall Street Journal reports. Investors of record on Monday, June 10th will be given a dividend of 0.34 per share on Monday, June 24th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date is Friday, June 7th.
Cinemark has raised its dividend by an average of 8.6% annually over the last three years and has raised its dividend every year for the last 3 years. Cinemark has a dividend payout ratio of 68.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Cinemark to earn $2.49 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 54.6%.
CNK stock traded up $0.87 during mid-day trading on Friday, reaching $36.10. The company had a trading volume of 1,579,755 shares, compared to its average volume of 1,133,966. The company has a debt-to-equity ratio of 2.18, a current ratio of 0.83 and a quick ratio of 0.80. The company has a market cap of $4.13 billion, a P/E ratio of 19.73, a price-to-earnings-growth ratio of 1.01 and a beta of 0.83. The company has a fifty day moving average of $38.25. Cinemark has a fifty-two week low of $34.03 and a fifty-two week high of $43.51.
In other news, insider Valmir Fernandes sold 4,033 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $43.00, for a total transaction of $173,419.00. Following the completion of the sale, the insider now owns 114,961 shares in the company, valued at approximately $4,943,323. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 9.00% of the stock is currently owned by corporate insiders.
A number of research firms have weighed in on CNK. ValuEngine downgraded Cinemark from a “buy” rating to a “hold” rating in a research report on Monday, April 1st. Wedbush set a $46.00 target price on Cinemark and gave the stock a “buy” rating in a research report on Monday, April 22nd. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $44.67.
Cinemark Company Profile
Cinemark Holdings, Inc, together with its subsidiaries, engages in the motion picture exhibition business. As of December 31, 2018, it operated 341 theatres and 4,586 screens in 41 states of the United States; and 205 theatres and 1,462 screens in Brazil, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Bolivia, Curacao, and Paraguay.
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