Cinemark (NYSE:CNK) Lowered to Sell at StockNews.com

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

CNK has been the subject of a number of other research reports. Roth Mkm lifted their target price on shares of Cinemark from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Barrington Research cut Cinemark from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 28th. B. Riley downgraded Cinemark from a “buy” rating to a “neutral” rating and set a $31.00 price objective for the company. in a report on Tuesday, August 27th. Benchmark restated a “buy” rating and set a $23.00 target price on shares of Cinemark in a report on Monday, July 1st. Finally, Wells Fargo & Company upped their price target on Cinemark from $28.00 to $31.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $28.10.

Cinemark Price Performance

Cinemark stock opened at $28.69 on Thursday. The business’s 50-day simple moving average is $28.00 and its 200 day simple moving average is $22.76. The company has a quick ratio of 1.26, a current ratio of 1.29 and a debt-to-equity ratio of 6.23. The stock has a market cap of $3.51 billion, a price-to-earnings ratio of 19.79, a P/E/G ratio of 1.94 and a beta of 2.36. Cinemark has a 12-month low of $13.19 and a 12-month high of $29.87.

Cinemark (NYSE:CNK) last issued its earnings results on Friday, August 2nd. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.25. Cinemark had a net margin of 5.05% and a return on equity of 41.87%. The company had revenue of $734.20 million for the quarter, compared to analyst estimates of $691.74 million. During the same quarter last year, the firm earned $0.80 EPS. The company’s revenue for the quarter was down 22.1% on a year-over-year basis. As a group, research analysts anticipate that Cinemark will post 1.41 earnings per share for the current year.

Insider Buying and Selling

In other Cinemark news, insider Valmir Fernandes sold 25,000 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $27.19, for a total transaction of $679,750.00. Following the sale, the insider now directly owns 204,729 shares of the company’s stock, valued at $5,566,581.51. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 2.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Sei Investments Co. grew its stake in shares of Cinemark by 38.1% in the first quarter. Sei Investments Co. now owns 115,124 shares of the company’s stock valued at $2,069,000 after buying an additional 31,739 shares in the last quarter. PEAK6 Investments LLC bought a new position in shares of Cinemark in the 1st quarter valued at about $2,274,000. Barrow Hanley Mewhinney & Strauss LLC increased its stake in shares of Cinemark by 18.1% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 676,652 shares of the company’s stock worth $14,629,000 after purchasing an additional 103,875 shares during the last quarter. US Bancorp DE increased its stake in shares of Cinemark by 68.8% during the 1st quarter. US Bancorp DE now owns 34,846 shares of the company’s stock worth $626,000 after purchasing an additional 14,200 shares during the last quarter. Finally, Maverick Capital Ltd. bought a new stake in shares of Cinemark in the 2nd quarter valued at about $2,253,000.

About Cinemark

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.