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

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

Other equities research analysts have also recently issued research reports about the stock. Roth Mkm increased their target price on shares of Cinemark from $17.00 to $19.00 and gave the company a neutral rating in a research note on Wednesday, April 10th. Benchmark reiterated a buy rating and set a $23.00 price target on shares of Cinemark in a research report on Friday. The Goldman Sachs Group dropped their price objective on Cinemark from $16.00 to $12.00 and set a sell rating on the stock in a research note on Thursday, January 11th. B. Riley lifted their target price on Cinemark from $14.00 to $16.00 and gave the company a neutral rating in a research report on Friday. Finally, Wells Fargo & Company upgraded Cinemark from an underweight rating to an overweight rating and upped their price objective for the company from $13.00 to $23.00 in a research note on Friday, April 5th. Two investment 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’s stock. According to data from MarketBeat, Cinemark has an average rating of Hold and an average price target of $20.33.

Cinemark Price Performance

NYSE CNK opened at $17.02 on Friday. The company has a 50-day moving average price of $17.93 and a two-hundred day moving average price of $15.85. The company has a current ratio of 1.48, a quick ratio of 1.45 and a debt-to-equity ratio of 7.42. The stock has a market cap of $2.08 billion, a price-to-earnings ratio of 11.73, a price-to-earnings-growth ratio of 2.06 and a beta of 2.25. Cinemark has a 52 week low of $13.19 and a 52 week high of $20.40.

Cinemark (NYSE:CNK) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.40. The business had revenue of $579.00 million during the quarter, compared to analyst estimates of $561.91 million. Cinemark had a return on equity of 69.48% and a net margin of 7.12%. The company’s revenue was down 5.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.03) earnings per share. Analysts forecast that Cinemark will post 0.86 EPS for the current year.

Insider Activity

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 directly 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 Securities & Exchange Commission, which is available at this hyperlink. 2.30% of the stock is owned by corporate insiders.

Institutional Trading of Cinemark

Large investors have recently bought and sold shares of the business. NBC Securities Inc. raised its position in shares of Cinemark by 17.2% during the fourth quarter. NBC Securities Inc. now owns 4,764 shares of the company’s stock worth $67,000 after purchasing an additional 700 shares during the period. Virtu Financial LLC purchased a new stake in Cinemark during the 4th quarter worth about $192,000. DekaBank Deutsche Girozentrale purchased a new position in Cinemark during the third quarter valued at approximately $193,000. Mackenzie Financial Corp bought a new stake in Cinemark during the fourth quarter valued at $210,000. Finally, Watershed Asset Management L.L.C. increased its position in shares of Cinemark by 6.2% in the fourth quarter. Watershed Asset Management L.L.C. now owns 15,658 shares of the company’s stock worth $221,000 after purchasing an additional 915 shares during 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.