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

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

A number of other equities analysts have also commented on CNK. The Goldman Sachs Group boosted their price target 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. Macquarie boosted their price target on shares of Cinemark from $32.00 to $34.00 and gave the company an “outperform” rating in a research report on Friday. Morgan Stanley boosted their price target on shares of Cinemark from $29.00 to $35.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. 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. Finally, Barrington Research upgraded shares of Cinemark from a “market perform” rating to an “outperform” rating and set a $36.00 target price on the stock in a research report on Thursday. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $30.80.

Cinemark Price Performance

Shares of Cinemark stock opened at $29.85 on Friday. 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 firm’s 50-day simple moving average is $28.24 and its 200-day simple moving average is $23.19. Cinemark has a twelve month low of $13.19 and a twelve month high of $31.09. The firm has a market cap of $3.65 billion, a P/E ratio of 30.77, a price-to-earnings-growth ratio of 2.07 and a beta of 2.36.

Cinemark (NYSE:CNK) last released its quarterly earnings results on Thursday, October 31st. The company reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.61. The firm had revenue of $921.80 million for the quarter, compared to analyst estimates of $894.90 million. Cinemark had a net margin of 5.05% and a return on equity of 41.87%. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.61 earnings per share. As a group, research analysts expect that Cinemark will post 1.47 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Valmir Fernandes sold 25,000 shares of the business’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 completion of the sale, the insider now directly owns 204,729 shares of the company’s stock, valued at $5,566,581.51. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 2.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Cinemark

Institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC increased 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 in the last quarter. USA Financial Formulas bought a new stake in Cinemark in the third quarter valued at approximately $77,000. CWM LLC increased 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 in the last quarter. Point72 Asia Singapore Pte. Ltd. increased 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 in the last quarter. Finally, 1620 Investment Advisors Inc. bought a new stake in Cinemark in the second quarter valued at approximately $79,000.

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.