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

Cinemark (NYSE:CNK) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.

Several other research firms also recently weighed in on CNK. The Goldman Sachs Group upped their price target on shares of Cinemark from $16.00 to $20.00 and gave the stock a “sell” rating in a research report on Thursday, September 19th. Macquarie increased their price objective on shares of Cinemark from $21.00 to $24.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 9th. Morgan Stanley raised their price target on shares of Cinemark from $29.00 to $35.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Roth Capital upgraded shares of Cinemark from a “hold” rating to a “strong-buy” rating in a report on Monday, June 24th. Finally, Wells Fargo & Company raised their price objective on shares of Cinemark from $28.00 to $31.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Cinemark currently has a consensus rating of “Moderate Buy” and an average price target of $28.10.

Cinemark Price Performance

Shares of CNK opened at $28.67 on Tuesday. The firm has a market capitalization of $3.51 billion, a PE ratio of 19.77, a price-to-earnings-growth 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 has a 1-year low of $13.19 and a 1-year high of $29.87. The company’s fifty day moving average price is $27.69 and its 200-day moving average price is $22.31.

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

Insider Activity

In related news, insider Valmir Fernandes sold 25,000 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $5,566,581.51. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On Cinemark

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its position in shares of Cinemark by 106.1% in the third quarter. GAMMA Investing LLC now owns 2,020 shares of the company’s stock valued at $56,000 after buying an additional 1,040 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its stake in shares of Cinemark by 38.7% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,145 shares of the company’s stock valued at $68,000 after purchasing an additional 877 shares during the period. USA Financial Formulas purchased a new position in shares of Cinemark in the third quarter valued at $77,000. 1620 Investment Advisors Inc. purchased a new position in shares of Cinemark in the second quarter valued at $79,000. Finally, CWM LLC boosted its stake in Cinemark by 134.4% during the 3rd quarter. CWM LLC now owns 2,993 shares of the company’s stock valued at $83,000 after acquiring an additional 1,716 shares during the last quarter.

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.