Cinemark (NYSE:CNK) Rating Lowered to Sell at StockNews.com

Cinemark (NYSE:CNK) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.

Several other analysts have also issued reports on CNK. Roth Capital upgraded shares of Cinemark from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 24th. JPMorgan Chase & Co. lifted their target price on shares of Cinemark from $25.00 to $29.00 and gave the company a “neutral” rating in a research report on Monday. B. Riley lowered shares of Cinemark from a “buy” rating to a “neutral” rating and set a $31.00 target price on the stock. in a research report on Tuesday, August 27th. Barrington Research lowered shares of Cinemark from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 28th. Finally, The Goldman Sachs Group lifted their target price on shares of 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 assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Cinemark currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.10.

Cinemark Stock Down 2.0 %

CNK opened at $29.09 on Tuesday. Cinemark has a fifty-two week low of $13.19 and a fifty-two week high of $29.87. The company has a debt-to-equity ratio of 6.23, a quick ratio of 1.26 and a current ratio of 1.29. The company has a fifty day moving average of $27.59 and a two-hundred day moving average of $22.19. The stock has a market capitalization of $3.56 billion, a price-to-earnings ratio of 20.06, a PEG ratio of 1.94 and a beta of 2.36.

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

Insider Buying and Selling at Cinemark

In other Cinemark news, insider Valmir Fernandes sold 25,000 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $27.19, for a total value of $679,750.00. Following the transaction, the insider now directly owns 204,729 shares in the company, valued at $5,566,581.51. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 2.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cinemark

Several institutional investors and hedge funds have recently bought and sold shares of CNK. Third Point LLC purchased a new stake in shares of Cinemark in the 1st quarter valued at approximately $89,850,000. Steadfast Capital Management LP purchased a new stake in shares of Cinemark in the 1st quarter valued at approximately $29,323,000. Jericho Capital Asset Management L.P. purchased a new stake in shares of Cinemark in the 1st quarter valued at approximately $15,975,000. Nut Tree Capital Management LP purchased a new stake in shares of Cinemark in the 1st quarter valued at approximately $13,250,000. Finally, Hennessy Advisors Inc. raised its stake in shares of Cinemark by 18.1% in the 2nd quarter. Hennessy Advisors Inc. now owns 1,530,200 shares of the company’s stock valued at $33,083,000 after acquiring an additional 234,400 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.