Cinemark (NYSE:CNK) Downgraded by StockNews.com to “Sell”

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

Other equities analysts have also issued reports about the stock. B. Riley lowered shares of Cinemark from a buy rating to a neutral rating and set a $31.00 target price on the stock. in a research report on Tuesday, August 27th. Roth Mkm upped their price target on shares of Cinemark from $30.00 to $33.00 and gave the stock a buy rating in a research report on Thursday, October 10th. The Goldman Sachs Group lifted their price objective on shares of Cinemark from $16.00 to $20.00 and gave the company a sell rating in a report on Thursday, September 19th. JPMorgan Chase & Co. upped their target price on Cinemark from $25.00 to $29.00 and gave the stock a neutral rating in a report on Monday. Finally, Wells Fargo & Company boosted their price target on Cinemark from $28.00 to $31.00 and gave the stock an overweight rating in a research report on Thursday, October 10th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Cinemark currently has a consensus rating of Moderate Buy and an average price target of $28.10.

Cinemark Stock Down 1.3 %

Shares of NYSE CNK opened at $28.72 on Tuesday. Cinemark has a 1 year low of $13.19 and a 1 year high of $29.87. The firm has a 50-day simple moving average of $27.64 and a two-hundred day simple moving average of $22.26. The company has a market cap of $3.51 billion, a P/E ratio of 19.81, a PEG 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 posted its quarterly earnings data 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. Cinemark had a return on equity of 41.87% and a net margin of 5.05%. The company had revenue of $734.20 million during the quarter, compared to analysts’ expectations of $691.74 million. During the same quarter in the previous year, the business earned $0.80 EPS. Cinemark’s revenue was down 22.1% compared to the same quarter last year. Research analysts anticipate that Cinemark will post 1.41 earnings per share for the current year.

Insider Activity

In related news, insider Valmir Fernandes sold 25,000 shares of Cinemark stock in a transaction that occurred 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 directly owns 204,729 shares in the company, valued at $5,566,581.51. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CNK. Third Point LLC purchased a new stake in shares of Cinemark during the first quarter valued at $89,850,000. Dimensional Fund Advisors LP grew its stake in Cinemark by 5.4% during 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 during the last quarter. Victory Capital Management Inc. increased its holdings 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 purchasing an additional 35,993 shares during the period. Steadfast Capital Management LP purchased a new position in shares of Cinemark in the first quarter worth about $29,323,000. Finally, Hennessy Advisors Inc. lifted its holdings in shares of Cinemark by 18.1% during the second 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 during the period.

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.