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

Cinemark (NYSE:CNK) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Saturday.

A number of other equities analysts have also weighed in on CNK. The Goldman Sachs Group lifted their price target on shares of Cinemark from $16.00 to $20.00 and gave the company a “sell” rating in a report on Thursday, September 19th. Wells Fargo & Company boosted their target price on shares of Cinemark from $31.00 to $35.00 and gave the stock an “overweight” rating in a research report on Friday. Macquarie raised their price objective on Cinemark from $32.00 to $34.00 and gave the company an “outperform” rating in a research note on Friday. JPMorgan Chase & Co. boosted their target price on shares of Cinemark from $25.00 to $29.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Finally, Morgan Stanley upped their price target on Cinemark from $29.00 to $35.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $30.80.

Cinemark Price Performance

CNK stock opened at $29.85 on Friday. The firm has a 50 day moving average of $28.24 and a 200-day moving average of $23.16. The company has a market cap of $3.65 billion, a price-to-earnings ratio of 30.77, a PEG ratio of 2.07 and a beta of 2.36. The company has a current ratio of 1.29, a quick ratio of 1.26 and a debt-to-equity ratio of 6.23. Cinemark has a 12-month low of $13.19 and a 12-month high of $31.09.

Cinemark (NYSE:CNK) last posted its earnings results on Thursday, October 31st. The company reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.61. Cinemark had a return on equity of 41.87% and a net margin of 5.05%. The firm had revenue of $921.80 million for the quarter, compared to analyst estimates of $894.90 million. During the same quarter in the prior year, the company earned $0.61 EPS. Cinemark’s revenue was up 5.4% on a year-over-year basis. As a group, equities analysts expect that Cinemark will post 1.47 EPS for the current fiscal year.

Insider Buying and Selling at Cinemark

In other 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 transaction, the insider now owns 204,729 shares of the company’s stock, valued at $5,566,581.51. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 2.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Cinemark

A number of hedge funds have recently modified their holdings of the stock. Third Point LLC acquired a new stake in Cinemark during the 1st quarter worth about $89,850,000. Dimensional Fund Advisors LP increased its position in shares of Cinemark by 5.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,914,708 shares of the company’s stock worth $63,012,000 after acquiring an additional 148,076 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Cinemark by 1.4% during the second quarter. Victory Capital Management Inc. now owns 2,550,819 shares of the company’s stock valued at $55,149,000 after acquiring an additional 35,993 shares during the period. Steadfast Capital Management LP purchased a new stake in shares of Cinemark in the 1st quarter valued at approximately $29,323,000. Finally, Hennessy Advisors Inc. boosted its stake in Cinemark by 18.1% in 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.