Cinemark (NYSE:CNK) Stock Rating Upgraded by StockNews.com

Cinemark (NYSE:CNK) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Monday.

CNK has been the subject of a number of other research reports. JPMorgan Chase & Co. raised their price target on shares of Cinemark from $22.00 to $25.00 and gave the company a “neutral” rating in a report on Monday. Benchmark reissued a “buy” rating and issued a $23.00 price target on shares of Cinemark in a report on Monday, July 1st. Roth Mkm raised their price objective on shares of Cinemark from $28.00 to $30.00 and gave the company a “buy” rating in a research note on Monday. Morgan Stanley raised their price objective on shares of Cinemark from $26.00 to $29.00 and gave the company an “overweight” rating in a research note on Monday. Finally, B. Riley raised their price objective on shares of Cinemark from $27.00 to $31.00 and gave the company a “buy” rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $24.60.

Cinemark Price Performance

Shares of NYSE CNK traded up $0.57 during mid-day trading on Monday, hitting $25.42. 6,821,145 shares of the stock were exchanged, compared to its average volume of 3,079,853. The company has a market cap of $3.11 billion, a P/E ratio of 17.53, a PEG ratio of 2.14 and a beta of 2.36. The stock’s fifty day simple moving average is $20.18 and its two-hundred day simple moving average is $18.12. The company has a debt-to-equity ratio of 7.42, a quick ratio of 1.45 and a current ratio of 1.48. Cinemark has a twelve month low of $13.19 and a twelve month high of $25.51.

Cinemark (NYSE:CNK) last posted its quarterly earnings data on Friday, August 2nd. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.25. The company had revenue of $734.20 million during the quarter, compared to analyst estimates of $691.74 million. Cinemark had a net margin of 7.12% and a return on equity of 69.48%. The company’s revenue was down 22.1% on a year-over-year basis. During the same quarter last year, the business posted $0.80 earnings per share. As a group, analysts forecast that Cinemark will post 1.08 EPS for the current fiscal year.

Institutional Investors Weigh In On Cinemark

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Third Point LLC acquired a new stake in shares of Cinemark during the first quarter worth $89,850,000. Dimensional Fund Advisors LP increased its stake in Cinemark by 9.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,568,871 shares of the company’s stock valued at $36,195,000 after buying an additional 213,593 shares during the last quarter. Victory Capital Management Inc. increased its stake in Cinemark by 1.4% in the 2nd quarter. Victory Capital Management Inc. now owns 2,550,819 shares of the company’s stock valued at $55,149,000 after buying an additional 35,993 shares during the last quarter. Steadfast Capital Management LP acquired a new stake in Cinemark in the 1st quarter valued at $29,323,000. Finally, Hennessy Advisors Inc. increased its stake in 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 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.