B. Riley Lowers Cinemark (NYSE:CNK) to Neutral

Cinemark (NYSE:CNK) was downgraded by investment analysts at B. Riley from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Tuesday, FinViz reports. They presently have a $31.00 price target on the stock. B. Riley’s price target suggests a potential upside of 10.01% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on the stock. Morgan Stanley boosted their target price on shares of Cinemark from $26.00 to $29.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Barrington Research reissued an “outperform” rating and set a $24.00 price objective on shares of Cinemark in a report on Friday, August 2nd. Wedbush reaffirmed an “outperform” rating and set a $25.00 target price on shares of Cinemark in a report on Monday, July 29th. Benchmark reissued a “buy” rating and issued a $23.00 price target on shares of Cinemark in a report on Monday, July 1st. Finally, Roth Capital raised shares of Cinemark from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 24th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $24.60.

Cinemark Stock Performance

Shares of CNK stock opened at $28.18 on Tuesday. The company has a debt-to-equity ratio of 7.42, a quick ratio of 1.45 and a current ratio of 1.48. The firm has a market cap of $3.45 billion, a price-to-earnings ratio of 19.43, a P/E/G ratio of 2.14 and a beta of 2.36. Cinemark has a 52 week low of $13.19 and a 52 week high of $28.20. The firm’s 50-day simple moving average is $23.19 and its two-hundred day simple moving average is $19.54.

Cinemark (NYSE:CNK) last announced its quarterly earnings data on Friday, August 2nd. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.25. The business had revenue of $734.20 million during the quarter, compared to analyst estimates of $691.74 million. Cinemark had a return on equity of 69.48% and a net margin of 7.12%. Cinemark’s revenue was down 22.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.80 earnings per share. As a group, equities analysts forecast that Cinemark will post 1.08 earnings per share for the current year.

Insider Transactions at Cinemark

In other Cinemark news, insider Valmir Fernandes sold 25,000 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was 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 $5,566,581.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. International Assets Investment Management LLC bought a new position in shares of Cinemark during the 4th quarter valued at $3,000,000. Mackenzie Financial Corp bought a new position in shares of Cinemark during the fourth quarter valued at about $210,000. New York State Common Retirement Fund increased its holdings in shares of Cinemark by 8.1% in the fourth quarter. New York State Common Retirement Fund now owns 72,372 shares of the company’s stock worth $1,020,000 after buying an additional 5,452 shares during the period. Yousif Capital Management LLC lifted its stake in shares of Cinemark by 9.5% in the 4th quarter. Yousif Capital Management LLC now owns 58,669 shares of the company’s stock valued at $827,000 after acquiring an additional 5,112 shares during the last quarter. Finally, Versor Investments LP lifted its stake in shares of Cinemark by 252.4% in the 4th quarter. Versor Investments LP now owns 54,152 shares of the company’s stock valued at $763,000 after acquiring an additional 38,786 shares during the last quarter.

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.