Cinemark (NYSE:CNK) Cut to “Hold” at Wedbush

Wedbush downgraded shares of Cinemark (NYSE:CNK) from a strong-buy rating to a hold rating in a research report report published on Friday morning, Zacks.com reports. Wedbush also issued estimates for Cinemark’s Q3 2024 earnings at $0.58 EPS, Q4 2024 earnings at $0.45 EPS, FY2024 earnings at $1.50 EPS, Q1 2025 earnings at $0.01 EPS, Q2 2025 earnings at $0.43 EPS, Q2 2025 earnings at $0.38 EPS, Q3 2025 earnings at $0.65 EPS, Q4 2025 earnings at $0.69 EPS, FY2025 earnings at $1.70 EPS, FY2025 earnings at $1.78 EPS, FY2026 earnings at $2.08 EPS and FY2026 earnings at $2.00 EPS.

Several other equities analysts have also recently commented on the stock. StockNews.com cut shares of Cinemark from a “hold” rating to a “sell” rating in a research report on Saturday. The Goldman Sachs Group increased 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. Morgan Stanley increased their price target on shares of Cinemark from $29.00 to $35.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Wells Fargo & Company increased their price target on shares of Cinemark from $31.00 to $35.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, B. Riley cut shares of Cinemark from a “buy” rating to a “neutral” rating and set a $31.00 price target on the stock. in a research report on Tuesday, August 27th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.80.

Cinemark Stock Up 0.3 %

Shares of Cinemark stock opened at $29.85 on Friday. The business has a 50-day moving average of $28.24 and a 200-day moving average of $23.23. The company has a debt-to-equity ratio of 4.11, a current ratio of 1.29 and a quick ratio of 1.26. The company has a market capitalization of $3.65 billion, a PE ratio of 19.26, a P/E/G ratio of 2.02 and a beta of 2.35. Cinemark has a 1-year low of $13.19 and a 1-year high of $31.09.

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 return on equity of 60.21% and a net margin of 8.36%. The company’s revenue was up 5.4% on a year-over-year basis. During the same period last year, the firm earned $0.61 earnings per share. As a group, equities analysts forecast that Cinemark will post 1.47 EPS for the current fiscal year.

Insiders Place Their Bets

In other 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 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 SEC, which is accessible through the SEC website. 2.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Cinemark

Hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC raised its holdings in shares of Cinemark by 106.1% during 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. increased its stake 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 acquiring an additional 877 shares during the period. USA Financial Formulas acquired a new position in shares of Cinemark during the third quarter valued at approximately $77,000. 1620 Investment Advisors Inc. acquired a new position in shares of Cinemark during the second quarter valued at approximately $79,000. Finally, CWM LLC increased its stake in shares of Cinemark by 134.4% during the third 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 period.

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.