StockNews.com Downgrades Cinemark (NYSE:CNK) to Sell

StockNews.com cut shares of Cinemark (NYSE:CNK) from a hold rating to a sell rating in a report issued on Thursday.

Other equities research analysts also recently issued reports about the stock. Wells Fargo & Company raised their price target on shares of Cinemark from $28.00 to $31.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Macquarie upped their price target on shares of Cinemark from $21.00 to $24.00 and gave the stock an “outperform” rating in a report on Tuesday, July 9th. Benchmark reissued a “buy” rating and set a $23.00 price objective on shares of Cinemark in a report on Monday, July 1st. B. Riley cut Cinemark from a “buy” rating to a “neutral” rating and set a $31.00 target price for the company. in a report on Tuesday, August 27th. Finally, Wedbush lifted their price target on Cinemark from $28.00 to $31.00 and gave the company an “outperform” rating in a research note on Tuesday, September 3rd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $28.10.

Cinemark Stock Up 1.7 %

Shares of CNK opened at $28.69 on Thursday. The firm has a 50 day simple moving average of $28.00 and a two-hundred day simple moving average of $22.78. 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 one year low of $13.19 and a one year high of $29.87. The company has a market cap of $3.51 billion, a P/E ratio of 19.79, a P/E/G ratio of 1.94 and a beta of 2.36.

Cinemark (NYSE:CNK) last posted its quarterly earnings results on Friday, August 2nd. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.25. The company had revenue of $734.20 million during the quarter, compared to analysts’ expectations of $691.74 million. Cinemark had a return on equity of 41.87% and a net margin of 5.05%. Cinemark’s revenue was down 22.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.80 EPS. Research analysts forecast that Cinemark will post 1.41 EPS for the current fiscal year.

Insider Activity at Cinemark

In other Cinemark news, insider Valmir Fernandes sold 25,000 shares of the 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 completion of the sale, the insider now directly owns 204,729 shares in the company, valued at approximately $5,566,581.51. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 2.30% of the stock is owned by company insiders.

Institutional Trading of Cinemark

Several large investors have recently modified their holdings of CNK. GAMMA Investing LLC lifted its position in shares of Cinemark by 106.1% during the 3rd quarter. GAMMA Investing LLC now owns 2,020 shares of the company’s stock valued at $56,000 after acquiring an additional 1,040 shares during the period. Point72 Asia Singapore Pte. Ltd. raised its holdings in shares of Cinemark by 38.7% during 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 bought a new position in shares of Cinemark during the 3rd quarter worth about $77,000. 1620 Investment Advisors Inc. acquired a new stake in shares of Cinemark in the 2nd quarter valued at about $79,000. Finally, CWM LLC increased its position in Cinemark by 134.4% in the 3rd quarter. CWM LLC now owns 2,993 shares of the company’s stock valued at $83,000 after buying an additional 1,716 shares in 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.