StockNews.com Downgrades Cinemark (NYSE:CNK) to Sell

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

CNK has been the topic of a number of other reports. B. Riley downgraded shares of Cinemark from a “buy” rating to a “neutral” rating and set a $31.00 target price on the stock. in a report on Tuesday, August 27th. Morgan Stanley lifted their price objective 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. Wells Fargo & Company upped their target price on shares of Cinemark from $28.00 to $31.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. The Goldman Sachs Group lifted their price target on Cinemark from $16.00 to $20.00 and gave the stock a “sell” rating in a report on Thursday, September 19th. Finally, Benchmark restated a “buy” rating and issued a $23.00 price objective on shares of Cinemark in a research note on Monday, July 1st. Two analysts have rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Cinemark presently has an average rating of “Moderate Buy” and a consensus target price of $28.10.

Cinemark Stock Down 0.5 %

Shares of NYSE CNK traded down $0.14 during mid-day trading on Thursday, hitting $28.20. The company had a trading volume of 1,656,305 shares, compared to its average volume of 2,853,006. The company has a current ratio of 1.29, a quick ratio of 1.26 and a debt-to-equity ratio of 6.23. The firm has a 50-day simple moving average of $27.95 and a two-hundred day simple moving average of $22.69. The company has a market capitalization of $3.45 billion, a PE ratio of 19.45, a price-to-earnings-growth ratio of 1.94 and a beta of 2.36. Cinemark has a one year low of $13.19 and a one year high of $29.87.

Cinemark (NYSE:CNK) last issued its quarterly earnings results on Friday, August 2nd. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.07 by $0.25. The firm had revenue of $734.20 million during the quarter, compared to analysts’ expectations of $691.74 million. Cinemark had a return on equity of 41.87% and a net margin of 5.05%. The business’s quarterly revenue was down 22.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.80 earnings per share. On average, equities analysts expect that Cinemark will post 1.41 EPS for the current year.

Insider Transactions at Cinemark

In other news, insider Valmir Fernandes sold 25,000 shares of the stock in a transaction that occurred 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 transaction, the insider now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On Cinemark

Several institutional investors and hedge funds have recently modified their holdings of CNK. Third Point LLC bought a new stake in Cinemark in the 1st quarter valued at about $89,850,000. Steadfast Capital Management LP acquired a new stake in shares of Cinemark in the first quarter valued at approximately $29,323,000. Jericho Capital Asset Management L.P. bought a new stake in shares of Cinemark in the first quarter valued at approximately $15,975,000. Nut Tree Capital Management LP acquired a new stake in Cinemark during the first quarter worth approximately $13,250,000. Finally, Assenagon Asset Management S.A. bought a new position in Cinemark during the 3rd quarter worth $12,133,000.

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.