Cinemark (NYSE:CNK) Raised to Hold at StockNews.com

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

Other analysts also recently issued reports about the company. Wells Fargo & Company increased their price objective on Cinemark from $31.00 to $35.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Morgan Stanley increased their price objective on Cinemark from $29.00 to $35.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. B. Riley downgraded Cinemark from a “buy” rating to a “neutral” rating and set a $31.00 price objective for the company. in a research note on Tuesday, August 27th. Wedbush downgraded Cinemark from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 1st. Finally, Barrington Research raised Cinemark from a “market perform” rating to an “outperform” rating and set a $36.00 price objective for the company in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Cinemark has a consensus rating of “Moderate Buy” and a consensus price target of $30.80.

Cinemark Stock Down 2.9 %

Shares of NYSE:CNK opened at $31.79 on Friday. The company has a market capitalization of $3.89 billion, a price-to-earnings ratio of 20.52, a P/E/G ratio of 1.64 and a beta of 2.35. The company has a debt-to-equity ratio of 3.46, a current ratio of 0.98 and a quick ratio of 0.96. The business’s 50-day moving average is $28.72 and its 200-day moving average is $23.89. Cinemark has a 1 year low of $13.19 and a 1 year high of $33.11.

Cinemark (NYSE:CNK) last posted its quarterly earnings results on Thursday, October 31st. The company reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.61. Cinemark had a return on equity of 60.21% and a net margin of 8.36%. The business had revenue of $921.80 million for the quarter, compared to the consensus estimate of $894.90 million. During the same period in the prior year, the business earned $0.61 EPS. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. Equities research analysts predict that Cinemark will post 2 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Valmir Fernandes sold 25,000 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $32.68, for a total value of $817,000.00. Following the sale, the insider now owns 179,729 shares in the company, valued at approximately $5,873,543.72. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Cinemark

A number of large investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its stake in shares of Cinemark by 106.1% during the third quarter. GAMMA Investing LLC now owns 2,020 shares of the company’s stock valued at $56,000 after buying an additional 1,040 shares during the last quarter. USA Financial Formulas bought a new position in shares of Cinemark during the third quarter valued at about $77,000. CWM LLC grew its stake in shares of Cinemark by 134.4% during the third quarter. CWM LLC now owns 2,993 shares of the company’s stock valued at $83,000 after buying an additional 1,716 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. grew its stake in shares of Cinemark by 38.7% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,145 shares of the company’s stock valued at $68,000 after buying an additional 877 shares during the last quarter. Finally, 1620 Investment Advisors Inc. bought a new position in shares of Cinemark during the second quarter valued at about $79,000.

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.