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

StockNews.com lowered shares of Cinemark (NYSE:CNK) from a hold rating to a sell rating in a report released on Saturday morning.

A number of other analysts have also recently commented on CNK. The Goldman Sachs Group upped their price target on Cinemark from $16.00 to $20.00 and gave the company a “sell” rating in a research note on Thursday, September 19th. Macquarie increased their target price on shares of Cinemark from $32.00 to $34.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Roth Mkm upped their price objective on shares of Cinemark from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Wells Fargo & Company raised their price objective on Cinemark from $31.00 to $35.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Finally, B. Riley cut Cinemark from a “buy” rating to a “neutral” rating and set a $31.00 target price for the company. in a research note on Tuesday, August 27th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $30.80.

Cinemark Stock Performance

Shares of NYSE:CNK opened at $29.70 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.96 and a debt-to-equity ratio of 3.46. Cinemark has a 1-year low of $13.19 and a 1-year high of $31.09. The stock has a market capitalization of $3.63 billion, a P/E ratio of 19.16, a P/E/G ratio of 2.00 and a beta of 2.35. The business has a 50-day moving average price of $28.29 and a two-hundred day moving average price of $23.39.

Cinemark (NYSE:CNK) last announced its quarterly earnings data on Thursday, October 31st. The company reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.61. The firm had revenue of $921.80 million for the quarter, compared to analysts’ expectations of $894.90 million. Cinemark had a net margin of 8.36% and a return on equity of 60.21%. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period last year, the firm earned $0.61 earnings per share. Equities analysts predict that Cinemark will post 1.5 earnings per share for the current year.

Insider Activity at Cinemark

In other Cinemark news, insider Valmir Fernandes sold 25,000 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $27.19, for a total value of $679,750.00. Following the completion of the sale, the insider now owns 204,729 shares in the company, valued at $5,566,581.51. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Third Point LLC bought a new position in shares of Cinemark during the first quarter worth approximately $89,850,000. Dimensional Fund Advisors LP boosted its position in shares of Cinemark by 5.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,914,708 shares of the company’s stock valued at $63,012,000 after acquiring an additional 148,076 shares during the period. Victory Capital Management Inc. grew its stake in shares of Cinemark by 1.4% in the second quarter. Victory Capital Management Inc. now owns 2,550,819 shares of the company’s stock valued at $55,149,000 after acquiring an additional 35,993 shares in the last quarter. Steadfast Capital Management LP bought a new position in Cinemark during the first quarter worth about $29,323,000. Finally, Hennessy Advisors Inc. raised its stake in Cinemark by 18.1% in the 2nd quarter. Hennessy Advisors Inc. now owns 1,530,200 shares of the company’s stock worth $33,083,000 after purchasing an additional 234,400 shares in the last quarter.

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.