Cinemark (NYSE:CNK) was downgraded by equities researchers at Credit Suisse Group from an “outperform” rating to a “neutral” rating in a note issued to investors on Monday, Marketbeat.com reports. They currently have a $13.00 price objective on the stock, down from their previous price objective of $20.00. Credit Suisse Group’s target price would indicate a potential upside of 12.55% from the company’s previous close.
Several other equities analysts have also commented on the stock. Zacks Investment Research lowered shares of Cinemark from a “hold” rating to a “sell” rating in a research report on Monday, June 8th. Imperial Capital lowered their price objective on shares of Cinemark from $24.00 to $23.00 and set an “outperform” rating for the company in a research report on Friday, June 19th. ValuEngine upgraded shares of Cinemark from a “hold” rating to a “buy” rating in a research report on Monday, June 1st. Barrington Research reiterated a “buy” rating and set a $20.00 price objective on shares of Cinemark in a research report on Wednesday, June 3rd. Finally, TheStreet lowered shares of Cinemark from a “c” rating to a “d+” rating in a research report on Thursday, June 4th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the stock. Cinemark currently has an average rating of “Buy” and a consensus price target of $23.25.
Shares of NYSE:CNK opened at $11.55 on Monday. The company has a debt-to-equity ratio of 2.52, a quick ratio of 0.95 and a current ratio of 0.98. The firm has a fifty day moving average price of $14.52 and a 200 day moving average price of $21.42. Cinemark has a fifty-two week low of $5.71 and a fifty-two week high of $41.60. The firm has a market cap of $1.38 billion, a price-to-earnings ratio of 13.75 and a beta of 1.76.
Cinemark (NYSE:CNK) last released its quarterly earnings data on Wednesday, June 3rd. The company reported ($0.51) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.14) by ($0.37). Cinemark had a net margin of 3.18% and a return on equity of 8.81%. The business had revenue of $543.60 million for the quarter, compared to the consensus estimate of $557.51 million. During the same quarter last year, the business earned $0.28 EPS. Cinemark’s revenue for the quarter was down 23.9% compared to the same quarter last year. As a group, research analysts predict that Cinemark will post -3 earnings per share for the current year.
Several institutional investors have recently added to or reduced their stakes in the company. ArrowMark Colorado Holdings LLC lifted its holdings in shares of Cinemark by 43.0% in the 1st quarter. ArrowMark Colorado Holdings LLC now owns 8,205,177 shares of the company’s stock worth $83,611,000 after acquiring an additional 2,466,425 shares during the last quarter. Victory Capital Management Inc. increased its stake in Cinemark by 0.7% in the 4th quarter. Victory Capital Management Inc. now owns 6,424,421 shares of the company’s stock worth $217,467,000 after buying an additional 43,203 shares during the period. JPMorgan Chase & Co. increased its stake in Cinemark by 4.7% in the 1st quarter. JPMorgan Chase & Co. now owns 4,382,998 shares of the company’s stock worth $44,663,000 after buying an additional 198,234 shares during the period. Renaissance Technologies LLC increased its stake in Cinemark by 7.1% in the 4th quarter. Renaissance Technologies LLC now owns 3,956,000 shares of the company’s stock worth $133,911,000 after buying an additional 263,600 shares during the period. Finally, State Street Corp increased its stake in Cinemark by 2.2% in the 1st quarter. State Street Corp now owns 2,741,422 shares of the company’s stock worth $27,935,000 after buying an additional 58,085 shares during the period. Hedge funds and other institutional investors own 99.68% of the company’s stock.
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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