Cinemark (NYSE:CNK) Downgraded by StockNews.com to “Sell”

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

A number of other equities analysts also recently commented on CNK. JPMorgan Chase & Co. boosted their target price on shares of Cinemark from $25.00 to $29.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Roth Mkm upped their price objective on shares of Cinemark from $30.00 to $33.00 and gave the company a “buy” rating in a report on Thursday, October 10th. B. Riley downgraded shares of Cinemark from a “buy” rating to a “neutral” rating and set a $31.00 price objective on the stock. in a report on Tuesday, August 27th. Morgan Stanley upped their target price on Cinemark from $29.00 to $35.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Finally, The Goldman Sachs Group upped their target price on Cinemark from $16.00 to $20.00 and gave the company a “sell” rating in a research report on Thursday, September 19th. 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 stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $30.80.

Cinemark Stock Down 0.9 %

Shares of CNK opened at $29.57 on Friday. The firm has a market capitalization of $3.62 billion, a P/E ratio of 19.08, a P/E/G 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. The company has a current ratio of 1.29, a quick ratio of 1.26 and a debt-to-equity ratio of 4.11. The firm has a fifty day moving average price of $28.26 and a 200-day moving average price of $23.31.

Cinemark (NYSE:CNK) last released its quarterly earnings data 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 firm 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 firm’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.61 earnings per share. Equities research analysts expect that Cinemark will post 1.47 earnings per share for the current year.

Insider Transactions at Cinemark

In related news, insider Valmir Fernandes sold 25,000 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $27.19, for a total value of $679,750.00. Following the completion of the transaction, the insider now directly owns 204,729 shares of the company’s stock, valued at approximately $5,566,581.51. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Sei Investments Co. increased its stake in shares of Cinemark by 38.1% in the 1st quarter. Sei Investments Co. now owns 115,124 shares of the company’s stock worth $2,069,000 after acquiring an additional 31,739 shares during the last quarter. PEAK6 Investments LLC purchased a new position in shares of Cinemark during the 1st quarter worth $2,274,000. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in shares of Cinemark by 18.1% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 676,652 shares of the company’s stock worth $14,629,000 after purchasing an additional 103,875 shares during the period. US Bancorp DE grew its holdings in shares of Cinemark by 68.8% during the 1st quarter. US Bancorp DE now owns 34,846 shares of the company’s stock worth $626,000 after purchasing an additional 14,200 shares during the period. Finally, Maverick Capital Ltd. purchased a new position in shares of Cinemark during the 2nd quarter worth $2,253,000.

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.