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

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

A number of other research analysts have also commented on the stock. Benchmark reiterated a “buy” rating and issued a $23.00 price target on shares of Cinemark in a research note on Monday, July 1st. JPMorgan Chase & Co. upped their price target on shares of Cinemark from $25.00 to $29.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Wedbush upped their price target on shares of Cinemark from $28.00 to $31.00 and gave the company an “outperform” rating in a research note on Tuesday, September 3rd. Macquarie upped their price target on shares of Cinemark from $21.00 to $24.00 and gave the company an “outperform” rating in a research note on Tuesday, July 9th. Finally, Morgan Stanley upped their price target on shares of Cinemark from $29.00 to $35.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $28.10.

Cinemark Stock Performance

Shares of CNK stock traded up $0.52 on Thursday, reaching $28.73. The stock had a trading volume of 284,373 shares, compared to its average volume of 2,841,004. The company has a quick ratio of 1.26, a current ratio of 1.29 and a debt-to-equity ratio of 6.23. The firm’s 50-day moving average is $27.95 and its two-hundred day moving average is $22.69. The firm has a market capitalization of $3.52 billion, a price-to-earnings ratio of 19.45, a P/E/G ratio of 1.94 and a beta of 2.36. Cinemark has a 12 month low of $13.19 and a 12 month high of $29.87.

Cinemark (NYSE:CNK) last issued its earnings results on Friday, August 2nd. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.25. The company had revenue of $734.20 million for the quarter, compared to analysts’ expectations of $691.74 million. Cinemark had a net margin of 5.05% and a return on equity of 41.87%. Cinemark’s quarterly revenue was down 22.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.80 EPS. On average, research analysts expect that Cinemark will post 1.41 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Valmir Fernandes sold 25,000 shares of the 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 sale, the insider now owns 204,729 shares in the company, valued at approximately $5,566,581.51. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 2.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cinemark

Several institutional investors and hedge funds have recently added to or reduced their stakes in CNK. Commonwealth Equity Services LLC lifted its stake in Cinemark by 7.7% in the 1st quarter. Commonwealth Equity Services LLC now owns 369,205 shares of the company’s stock valued at $6,635,000 after purchasing an additional 26,335 shares during the last quarter. Easterly Investment Partners LLC lifted its stake in Cinemark by 1.1% in the 1st quarter. Easterly Investment Partners LLC now owns 491,903 shares of the company’s stock valued at $8,839,000 after purchasing an additional 5,236 shares during the last quarter. Texas Permanent School Fund Corp lifted its stake in Cinemark by 1.5% in the 1st quarter. Texas Permanent School Fund Corp now owns 92,591 shares of the company’s stock valued at $1,664,000 after purchasing an additional 1,345 shares during the last quarter. Mitchell Capital Management Co. lifted its stake in Cinemark by 3.0% in the 1st quarter. Mitchell Capital Management Co. now owns 395,801 shares of the company’s stock valued at $7,113,000 after purchasing an additional 11,443 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new position in Cinemark in the 1st quarter valued at approximately $1,865,000.

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.