Cinemark (NYSE:CNK) Upgraded at StockNews.com

StockNews.com upgraded shares of Cinemark (NYSE:CNK) from a sell rating to a hold rating in a research report released on Sunday morning.

Several other research firms also recently commented on CNK. Wells Fargo & Company lifted their price objective on Cinemark from $31.00 to $35.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Wedbush cut Cinemark from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 1st. B. Riley lowered Cinemark from a “buy” rating to a “neutral” rating and set a $31.00 price objective for the company. in a research note on Tuesday, August 27th. The Goldman Sachs Group lifted their target price on shares of Cinemark from $16.00 to $20.00 and gave the stock a “sell” rating in a research note on Thursday, September 19th. Finally, Barrington Research raised shares of Cinemark from a “market perform” rating to an “outperform” rating and set a $36.00 price target for the company in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $30.80.

Cinemark Stock Up 1.1 %

Shares of CNK opened at $32.74 on Friday. Cinemark has a 1 year low of $13.19 and a 1 year high of $33.11. The company has a debt-to-equity ratio of 3.46, a current ratio of 0.98 and a quick ratio of 0.96. The stock has a 50 day simple moving average of $28.61 and a two-hundred day simple moving average of $23.78. The firm has a market cap of $4.01 billion, a P/E ratio of 21.15, a P/E/G ratio of 1.58 and a beta of 2.35.

Cinemark (NYSE:CNK) last announced its quarterly earnings data on Thursday, October 31st. The company reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.61. The company had revenue of $921.80 million during the quarter, compared to analysts’ expectations of $894.90 million. Cinemark had a net margin of 8.36% and a return on equity of 60.21%. The firm’s revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.61 EPS. On average, analysts forecast that Cinemark will post 2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Valmir Fernandes sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $32.68, for a total value of $817,000.00. Following the completion of the transaction, the insider now owns 179,729 shares in the company, valued at $5,873,543.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Third Point LLC purchased a new stake in Cinemark in the first quarter worth about $89,850,000. Dimensional Fund Advisors LP boosted its position in shares of Cinemark by 5.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,914,708 shares of the company’s stock worth $63,012,000 after purchasing an additional 148,076 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Cinemark by 1.4% in the 2nd quarter. Victory Capital Management Inc. now owns 2,550,819 shares of the company’s stock worth $55,149,000 after buying an additional 35,993 shares during the last quarter. Steadfast Capital Management LP bought a new position in Cinemark during the 1st quarter valued at approximately $29,323,000. Finally, Hennessy Advisors Inc. raised its stake in Cinemark by 18.1% during the second quarter. Hennessy Advisors Inc. now owns 1,530,200 shares of the company’s stock valued at $33,083,000 after buying an additional 234,400 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.