Zacks Research Downgrades Cinemark (NYSE:CNK) to Hold

Cinemark (NYSE:CNK) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Tuesday,Zacks.com reports.

A number of other analysts have also issued reports on the company. Wall Street Zen upgraded Cinemark from a “hold” rating to a “buy” rating in a research note on Sunday. Roth Mkm restated a “buy” rating and issued a $37.00 target price on shares of Cinemark in a research note on Thursday, April 23rd. Morgan Stanley upped their target price on Cinemark from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 30th. The Goldman Sachs Group restated a “sell” rating and issued a $22.00 target price on shares of Cinemark in a research note on Thursday, February 19th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Cinemark in a research note on Friday, March 27th. Ten equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Cinemark currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.31.

Cinemark Stock Performance

NYSE:CNK opened at $29.78 on Tuesday. The company has a debt-to-equity ratio of 5.03, a quick ratio of 0.58 and a current ratio of 0.62. Cinemark has a 52-week low of $21.60 and a 52-week high of $32.95. The firm has a market cap of $3.48 billion, a price-to-earnings ratio of 26.35 and a beta of 1.00. The business’s fifty day moving average is $28.40 and its 200 day moving average is $26.37.

Cinemark (NYSE:CNK) last released its quarterly earnings data on Friday, May 1st. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). Cinemark had a net margin of 5.31% and a return on equity of 41.31%. The company had revenue of $643.10 million for the quarter, compared to the consensus estimate of $632.74 million. During the same quarter in the previous year, the firm posted ($0.32) earnings per share. The business’s revenue for the quarter was up 18.9% compared to the same quarter last year. Research analysts predict that Cinemark will post 2.11 EPS for the current year.

Hedge Funds Weigh In On Cinemark

Institutional investors have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Cinemark by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,699 shares of the company’s stock worth $1,635,000 after purchasing an additional 2,872 shares in the last quarter. Woodline Partners LP purchased a new position in shares of Cinemark in the 1st quarter worth about $570,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Cinemark by 8.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 345,258 shares of the company’s stock worth $8,593,000 after purchasing an additional 25,490 shares in the last quarter. Acadian Asset Management LLC purchased a new position in shares of Cinemark in the 1st quarter worth about $372,000. Finally, Russell Investments Group Ltd. boosted its holdings in shares of Cinemark by 48.0% in the 2nd quarter. Russell Investments Group Ltd. now owns 5,228 shares of the company’s stock worth $158,000 after purchasing an additional 1,696 shares in the last quarter.

Cinemark Company Profile

Cinemark Holdings, Inc (NYSE: CNK) is a leading theatrical exhibitor that acquires, develops and operates motion picture theatres under the Cinemark® brand in the United States and Latin America. The company’s core business involves the presentation of first-run feature films coupled with an array of in‐theatre services, including concessions, premium auditoriums and loyalty programs. Cinemark’s exhibition portfolio encompasses both corporate‐owned and franchised complexes, offering moviegoers a range of experiences from standard screens to large‐format halls.

The company’s product offerings extend beyond ticket sales to include an assortment of concession items, such as popcorn, fountain beverages, candy and specialty snacks, as well as bar and lounge concepts in select locations.