Cinemark (NYSE:CNK) Upgraded at Zacks Research

Cinemark (NYSE:CNK) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

A number of other equities analysts also recently weighed in on CNK. UBS Group raised Cinemark to a “buy” rating in a research report on Tuesday, January 20th. Weiss Ratings reissued a “hold (c)” rating on shares of Cinemark in a research report on Monday, December 29th. Roth Mkm reaffirmed a “buy” rating and issued a $36.00 target price on shares of Cinemark in a research report on Thursday, February 19th. Wells Fargo & Company lowered their price target on shares of Cinemark from $33.00 to $32.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 14th. Finally, Macquarie Infrastructure reduced their price objective on shares of Cinemark from $36.00 to $34.00 and set an “outperform” rating for the company in a research note on Thursday, January 15th. Ten research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Cinemark has a consensus rating of “Moderate Buy” and a consensus target price of $32.08.

Cinemark Price Performance

CNK stock opened at $28.73 on Monday. The stock has a 50-day moving average price of $24.56 and a two-hundred day moving average price of $25.98. Cinemark has a 1 year low of $21.60 and a 1 year high of $34.01. The stock has a market cap of $3.32 billion, a PE ratio of 33.02 and a beta of 1.08. The company has a current ratio of 0.71, a quick ratio of 0.67 and a debt-to-equity ratio of 4.74.

Cinemark (NYSE:CNK) last issued its quarterly earnings results on Wednesday, February 18th. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.08). The firm had revenue of $776.30 million during the quarter, compared to the consensus estimate of $778.41 million. Cinemark had a net margin of 4.44% and a return on equity of 34.11%. The business’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.33 earnings per share. Equities analysts forecast that Cinemark will post 1.93 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Melissa Thomas sold 7,944 shares of Cinemark stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $26.05, for a total value of $206,941.20. Following the completion of the transaction, the executive vice president owned 159,416 shares of the company’s stock, valued at $4,152,786.80. This trade represents a 4.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 2.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Cinemark

Several hedge funds have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Cinemark by 4.6% during the first 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 during the period. Woodline Partners LP acquired a new stake in shares of Cinemark in the first quarter valued at approximately $570,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Cinemark by 8.0% during 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 acquiring an additional 25,490 shares during the period. Acadian Asset Management LLC bought a new position in shares of Cinemark during the 1st quarter worth approximately $372,000. Finally, Versor Investments LP acquired a new position in shares of Cinemark during the 2nd quarter worth approximately $426,000.

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.