Cinemark (NYSE:CNK) Lowered to “Sell” at StockNews.com

StockNews.com cut shares of Cinemark (NYSE:CNK) from a hold rating to a sell rating in a research report sent to investors on Thursday.

A number of other equities analysts also recently weighed in on the stock. Macquarie lifted their target price on shares of Cinemark from $21.00 to $24.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 9th. JPMorgan Chase & Co. raised their price target on shares of Cinemark from $25.00 to $29.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Roth Mkm raised their price target on shares of Cinemark from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Barrington Research cut shares of Cinemark from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 28th. Finally, B. Riley cut shares of Cinemark from a “buy” rating to a “neutral” rating and set a $31.00 price target for the company. in a report on Tuesday, August 27th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $28.10.

Cinemark Trading Up 1.8 %

NYSE CNK traded up $0.52 during mid-day trading on Thursday, reaching $28.73. 284,373 shares of the stock were exchanged, compared to its average volume of 2,841,004. Cinemark has a one year low of $13.19 and a one year high of $29.87. The stock has a 50 day simple moving average of $27.95 and a 200-day simple moving average of $22.69. The stock has a market cap of $3.52 billion, a P/E ratio of 19.45, a P/E/G ratio of 1.94 and a beta of 2.36. The company has a debt-to-equity ratio of 6.23, a current ratio of 1.29 and a quick ratio of 1.26.

Cinemark (NYSE:CNK) last announced its earnings results on Friday, August 2nd. The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.25. Cinemark had a net margin of 5.05% and a return on equity of 41.87%. The business had revenue of $734.20 million during the quarter, compared to the consensus estimate of $691.74 million. During the same quarter last year, the firm earned $0.80 earnings per share. Cinemark’s quarterly revenue was down 22.1% on a year-over-year basis. On average, analysts anticipate that Cinemark will post 1.41 EPS for the current year.

Insider Activity at Cinemark

In related news, insider Valmir Fernandes sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $27.19, for a total transaction of $679,750.00. Following the completion of the transaction, the insider now owns 204,729 shares of the company’s stock, valued at approximately $5,566,581.51. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Cinemark

A number of hedge funds and other institutional investors have recently bought and sold shares of CNK. Third Point LLC purchased a new stake in shares of Cinemark in the 1st quarter valued at $89,850,000. Dimensional Fund Advisors LP boosted its stake in shares of Cinemark by 5.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,914,708 shares of the company’s stock valued at $63,012,000 after purchasing an additional 148,076 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Cinemark by 1.4% in the 2nd quarter. Victory Capital Management Inc. now owns 2,550,819 shares of the company’s stock valued at $55,149,000 after purchasing an additional 35,993 shares in the last quarter. Steadfast Capital Management LP purchased a new stake in shares of Cinemark in the 1st quarter valued at $29,323,000. Finally, Hennessy Advisors Inc. boosted its stake in shares of Cinemark by 18.1% in the 2nd quarter. Hennessy Advisors Inc. now owns 1,530,200 shares of the company’s stock valued at $33,083,000 after purchasing 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.