Cinemark (NYSE:CNK) Stock Rating Lowered by Wedbush

Wedbush downgraded shares of Cinemark (NYSE:CNK) from a strong-buy rating to a hold rating in a report published on Friday, 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 research firms have also recently issued reports on CNK. JPMorgan Chase & Co. upped their target price on shares of Cinemark from $25.00 to $29.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Morgan Stanley upped their target price on shares of Cinemark from $29.00 to $35.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Macquarie upped their target price on shares of Cinemark from $32.00 to $34.00 and gave the company an “outperform” rating in a research note on Friday. B. Riley cut shares of Cinemark from a “buy” rating to a “neutral” rating and set a $31.00 target price on the stock. in a research note on Tuesday, August 27th. Finally, Wells Fargo & Company increased their price objective on shares of Cinemark from $31.00 to $35.00 and gave the stock an “overweight” rating in a research note on Friday. Two analysts have rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $30.80.

Cinemark Stock Down 0.9 %

Shares of NYSE CNK opened at $29.57 on Friday. The company has a current ratio of 1.29, a quick ratio of 1.26 and a debt-to-equity ratio of 4.11. Cinemark has a 12 month low of $13.19 and a 12 month high of $31.09. The firm has a market capitalization of $3.62 billion, a PE ratio of 19.08, a price-to-earnings-growth ratio of 2.02 and a beta of 2.35. The firm has a fifty day simple moving average of $28.26 and a two-hundred day simple moving average of $23.31.

Cinemark (NYSE:CNK) last released 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 firm had revenue of $921.80 million for the quarter, compared to the consensus estimate of $894.90 million. Cinemark had a net margin of 8.36% and a return on equity of 60.21%. The company’s revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.61 EPS. Equities analysts expect that Cinemark will post 1.47 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Valmir Fernandes sold 25,000 shares of Cinemark stock in a transaction 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 completion of the sale, the insider now directly owns 204,729 shares in the company, valued at approximately $5,566,581.51. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.30% of the stock is owned by insiders.

Institutional Trading of Cinemark

Several institutional investors and hedge funds have recently made changes to their positions in CNK. GAMMA Investing LLC grew its stake in Cinemark by 106.1% in the third quarter. GAMMA Investing LLC now owns 2,020 shares of the company’s stock valued at $56,000 after purchasing an additional 1,040 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. grew its stake in Cinemark by 38.7% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,145 shares of the company’s stock valued at $68,000 after purchasing an additional 877 shares during the last quarter. USA Financial Formulas purchased a new position in Cinemark in the third quarter valued at about $77,000. 1620 Investment Advisors Inc. purchased a new position in Cinemark in the second quarter valued at about $79,000. Finally, CWM LLC grew its stake in Cinemark by 134.4% in the third quarter. CWM LLC now owns 2,993 shares of the company’s stock valued at $83,000 after purchasing an additional 1,716 shares during the last quarter.

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.