Cinemark (NYSE:CNK) Downgraded by StockNews.com to Sell

StockNews.com lowered shares of Cinemark (NYSE:CNK) from a hold rating to a sell rating in a report issued on Friday.

CNK has been the topic of a number of other reports. Wedbush reaffirmed an outperform rating and set a $23.00 price objective on shares of Cinemark in a report on Thursday, April 25th. Benchmark reiterated a buy rating and set a $23.00 price target on shares of Cinemark in a research report on Friday. JPMorgan Chase & Co. boosted their target price on Cinemark from $17.00 to $19.00 and gave the stock a neutral rating in a research report on Monday, April 8th. B. Riley increased their target price on Cinemark from $14.00 to $16.00 and gave the company a neutral rating in a research note on Friday. Finally, Wells Fargo & Company upgraded shares of Cinemark from an underweight rating to an overweight rating and upped their price target for the company from $13.00 to $23.00 in a research report on Friday, April 5th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $20.33.

Cinemark Price Performance

Shares of NYSE CNK traded up $0.13 during trading hours on Friday, hitting $17.72. 3,420,747 shares of the stock were exchanged, compared to its average volume of 3,239,711. Cinemark has a 1-year low of $13.19 and a 1-year high of $20.40. The company’s fifty day simple moving average is $17.91 and its two-hundred day simple moving average is $15.85. The company has a debt-to-equity ratio of 7.15, a quick ratio of 1.42 and a current ratio of 1.45. The company has a market cap of $2.15 billion, a PE ratio of 12.22, a price-to-earnings-growth ratio of 2.08 and a beta of 2.25.

Cinemark (NYSE:CNK) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.40. Cinemark had a net margin of 7.12% and a return on equity of 69.48%. The firm had revenue of $579.00 million during the quarter, compared to analysts’ expectations of $561.91 million. During the same period in the prior year, the company posted ($0.03) EPS. The company’s revenue was down 5.2% on a year-over-year basis. On average, sell-side analysts predict that Cinemark will post 0.85 EPS for the current year.

Insider Buying and Selling

In other Cinemark news, insider Wanda Marie Gierhart sold 19,593 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $16.75, for a total transaction of $328,182.75. Following the sale, the insider now owns 179,591 shares of the company’s stock, valued at approximately $3,008,149.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Cinemark

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Cinemark by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 13,844,490 shares of the company’s stock valued at $254,046,000 after buying an additional 214,102 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Cinemark by 1.7% during the third quarter. Wellington Management Group LLP now owns 13,550,176 shares of the company’s stock worth $248,646,000 after acquiring an additional 232,619 shares during the period. Dimensional Fund Advisors LP raised its holdings in Cinemark by 9.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,568,871 shares of the company’s stock valued at $36,195,000 after acquiring an additional 213,593 shares in the last quarter. Hennessy Advisors Inc. grew its stake in shares of Cinemark by 14.1% during the first quarter. Hennessy Advisors Inc. now owns 1,295,800 shares of the company’s stock worth $23,286,000 after purchasing an additional 160,200 shares in the last quarter. Finally, Park West Asset Management LLC raised its position in shares of Cinemark by 34.3% during the 4th quarter. Park West Asset Management LLC now owns 1,175,000 shares of the company’s stock worth $16,556,000 after acquiring an additional 300,000 shares in 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.