Piper Jaffray: Cinemark Beats on Popcorn Sales, International Attendance

According to a research report published today by Piper Jaffray, Cinemark Holdings (NYSE: CNK) reported a strong quarter likely due to increased family content.

“International attendance grew 12.1% yoy, above our expectations of 10%. We believe investors should consider CNK shares as attractive given its limited market volatility, valuation that is inexpensive relative to growth, exposure to secular international box office growth, and that CNK yields an attractive 3.9% dividend yield. We reiterate our Overweight rating and $24 PT,” Piper Jaffray explained in the report.

Cinemark is currently trading at $20.83.