Cinemark (NYSE:CNK) Stock Rating Upgraded by StockNews.com

Cinemark (NYSE:CNK) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Monday.

A number of other research firms also recently issued reports on CNK. Roth Capital upgraded Cinemark from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 24th. JPMorgan Chase & Co. boosted their target price on shares of Cinemark from $22.00 to $25.00 and gave the company a “neutral” rating in a report on Monday. Barrington Research reaffirmed an “outperform” rating and issued a $24.00 price target on shares of Cinemark in a report on Friday. B. Riley upped their price target on shares of Cinemark from $27.00 to $31.00 and gave the stock a “buy” rating in a report on Monday. Finally, Wedbush reiterated an “outperform” rating and issued a $25.00 target price on shares of Cinemark in a research report on Monday, July 29th. One analyst has rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Cinemark has an average rating of “Moderate Buy” and a consensus price target of $24.60.

Cinemark Trading Up 2.3 %

Shares of CNK stock traded up $0.57 during mid-day trading on Monday, hitting $25.42. The company’s stock had a trading volume of 6,821,145 shares, compared to its average volume of 3,079,853. The company’s fifty day simple moving average is $20.18 and its 200-day simple moving average is $18.12. Cinemark has a 52 week low of $13.19 and a 52 week high of $25.51. The company has a debt-to-equity ratio of 7.42, a quick ratio of 1.45 and a current ratio of 1.48. The company has a market cap of $3.11 billion, a PE ratio of 17.53, a P/E/G ratio of 2.14 and a beta of 2.36.

Cinemark (NYSE:CNK) last posted its quarterly earnings data on Friday, August 2nd. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.25. Cinemark had a return on equity of 69.48% and a net margin of 7.12%. The firm had revenue of $734.20 million during the quarter, compared to analyst estimates of $691.74 million. During the same period last year, the company posted $0.80 EPS. The business’s quarterly revenue was down 22.1% on a year-over-year basis. As a group, equities research analysts expect that Cinemark will post 1.08 earnings per share for the current fiscal year.

Institutional Trading of Cinemark

A number of institutional investors have recently modified their holdings of the company. Third Point LLC bought a new position in Cinemark in the first quarter worth about $89,850,000. Dimensional Fund Advisors LP raised its stake in Cinemark by 9.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,568,871 shares of the company’s stock worth $36,195,000 after buying an additional 213,593 shares in the last quarter. Victory Capital Management Inc. raised its stake in Cinemark by 1.4% in the second quarter. Victory Capital Management Inc. now owns 2,550,819 shares of the company’s stock worth $55,149,000 after buying an additional 35,993 shares in the last quarter. Steadfast Capital Management LP bought a new position in Cinemark in the first quarter worth about $29,323,000. Finally, Hennessy Advisors Inc. raised its stake in Cinemark by 18.1% in the second quarter. Hennessy Advisors Inc. now owns 1,530,200 shares of the company’s stock worth $33,083,000 after buying an additional 234,400 shares in the last quarter.

About Cinemark

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.