Cinemark (NYSE:CNK) Cut to “Sell” at StockNews.com

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

Other equities analysts have also recently issued research reports about the stock. Wedbush boosted their price target on shares of Cinemark from $31.00 to $32.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 29th. Roth Mkm increased their price objective on shares of Cinemark from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. The Goldman Sachs Group raised 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. Macquarie raised their price target on shares of Cinemark from $32.00 to $34.00 and gave the company an “outperform” rating in a report on Friday. Finally, B. Riley downgraded shares of Cinemark from a “buy” rating to a “neutral” rating and set a $31.00 price target on the stock. in a report on Tuesday, August 27th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $30.80.

Cinemark Stock Performance

NYSE CNK opened at $29.57 on Friday. The company’s 50 day moving average is $28.26 and its 200-day moving average is $23.31. The company has a quick ratio of 1.26, a current ratio of 1.29 and a debt-to-equity ratio of 4.11. The firm has a market cap of $3.62 billion, a P/E ratio of 19.08, a price-to-earnings-growth ratio of 2.02 and a beta of 2.35. 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 for the quarter, topping analysts’ consensus estimates of $0.58 by $0.61. The business had revenue of $921.80 million for the quarter, compared to analyst estimates of $894.90 million. Cinemark had a net margin of 8.36% and a return on equity of 60.21%. Cinemark’s revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.61 EPS. Sell-side analysts predict that Cinemark will post 1.47 earnings per share for the current year.

Insider Buying and Selling

In other Cinemark news, insider Valmir Fernandes sold 25,000 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at approximately $5,566,581.51. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Cinemark

Several institutional investors and hedge funds have recently modified their holdings of CNK. Third Point LLC bought a new stake in shares of Cinemark during the first quarter valued at approximately $89,850,000. Steadfast Capital Management LP bought a new stake in shares of Cinemark during the first quarter valued at approximately $29,323,000. Jericho Capital Asset Management L.P. bought a new stake in shares of Cinemark during the first quarter valued at approximately $15,975,000. Nut Tree Capital Management LP bought a new stake in shares of Cinemark during the first quarter valued at approximately $13,250,000. Finally, Assenagon Asset Management S.A. bought a new stake in shares of Cinemark during the third quarter valued at approximately $12,133,000.

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.