Cinemark (NYSE:CNK) Rating Increased to Hold at StockNews.com

Cinemark (NYSE:CNK) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Sunday.

CNK has been the topic of a number of other reports. Wedbush cut Cinemark from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 1st. 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 report on Tuesday, August 27th. Barrington Research raised shares of Cinemark from a “market perform” rating to an “outperform” rating and set a $36.00 target price for the company in a research note on Thursday, October 31st. Morgan Stanley upped their price objective on Cinemark from $29.00 to $35.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Finally, Macquarie increased their price objective on shares of Cinemark from $32.00 to $34.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $30.80.

Cinemark Trading Down 0.2 %

Shares of NYSE CNK opened at $31.51 on Friday. The company has a quick ratio of 0.96, a current ratio of 0.98 and a debt-to-equity ratio of 3.46. The business has a fifty day simple moving average of $28.51 and a two-hundred day simple moving average of $23.63. The firm has a market cap of $3.86 billion, a PE ratio of 20.33, a price-to-earnings-growth ratio of 1.54 and a beta of 2.35. Cinemark has a twelve month low of $13.19 and a twelve month high of $31.87.

Cinemark (NYSE:CNK) last announced its earnings results on Thursday, October 31st. The company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.61. The company had revenue of $921.80 million during the quarter, compared to the consensus estimate of $894.90 million. Cinemark had a net margin of 8.36% and a return on equity of 60.21%. Cinemark’s revenue was up 5.4% compared to the same quarter last year. During the same period last year, the firm earned $0.61 earnings per share. Analysts expect that Cinemark will post 2 earnings per share for the current fiscal year.

Insider Activity

In other Cinemark news, insider Valmir Fernandes sold 25,000 shares of Cinemark stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $27.19, for a total value of $679,750.00. Following the completion of the transaction, the insider now directly owns 204,729 shares in the company, valued at $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 SEC, which is available at this link. Company insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On Cinemark

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Third Point LLC acquired a new position in Cinemark during the first quarter valued at $89,850,000. Dimensional Fund Advisors LP grew its holdings in Cinemark by 5.4% during the second 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. lifted its position in Cinemark by 1.4% during the 2nd quarter. Victory Capital Management Inc. now owns 2,550,819 shares of the company’s stock worth $55,149,000 after acquiring an additional 35,993 shares during the last quarter. Steadfast Capital Management LP acquired a new stake in Cinemark in the 1st quarter valued at approximately $29,323,000. Finally, Hennessy Advisors Inc. increased its holdings in shares of Cinemark by 18.1% during 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 during the period.

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.