Cinemark Holdings, Inc. (NYSE:CNK) Receives Average Recommendation of “Hold” from Brokerages

Shares of Cinemark Holdings, Inc. (NYSE:CNKGet Free Report) have received a consensus rating of “Hold” from the ten brokerages that are currently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $17.40.

A number of brokerages recently commented on CNK. The Goldman Sachs Group dropped their price target on Cinemark from $16.00 to $12.00 and set a “sell” rating for the company in a research note on Thursday, January 11th. Wells Fargo & Company downgraded shares of Cinemark from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $16.00 to $13.00 in a research note on Wednesday, December 20th. B. Riley cut Cinemark from a “buy” rating to a “neutral” rating and cut their price objective for the company from $23.00 to $15.00 in a research report on Tuesday, January 2nd. Roth Mkm decreased their target price on Cinemark from $20.00 to $16.00 and set a “neutral” rating for the company in a research report on Tuesday, December 5th. Finally, JPMorgan Chase & Co. lowered their target price on Cinemark from $18.00 to $16.00 and set a “neutral” rating for the company in a research note on Tuesday, February 6th.

Get Our Latest Analysis on Cinemark

Cinemark Price Performance

Shares of Cinemark stock opened at $17.98 on Friday. The firm has a market cap of $2.19 billion, a PE ratio of 14.61, a price-to-earnings-growth ratio of 2.27 and a beta of 2.27. The company’s fifty day simple moving average is $16.27 and its two-hundred day simple moving average is $15.79. The company has a quick ratio of 1.42, a current ratio of 1.45 and a debt-to-equity ratio of 7.73. Cinemark has a 12-month low of $13.19 and a 12-month high of $19.85.

Cinemark (NYSE:CNKGet Free Report) last announced its quarterly earnings results on Friday, February 16th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.08). The business had revenue of $638.90 million for the quarter, compared to analysts’ expectations of $619.67 million. Cinemark had a net margin of 6.14% and a return on equity of 72.91%. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.82) EPS. As a group, equities analysts expect that Cinemark will post 0.77 EPS for the current year.

Insiders Place Their Bets

In other news, insider Wanda Marie Gierhart sold 19,593 shares of Cinemark stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $16.75, for a total value of $328,182.75. Following the completion of the transaction, the insider now 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 SEC, which is available through the SEC website. Corporate insiders own 10.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Raymond James Financial Services Advisors Inc. increased its holdings in Cinemark by 61.1% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 50,486 shares of the company’s stock worth $872,000 after buying an additional 19,144 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Cinemark by 1.0% during the first quarter. Bank of New York Mellon Corp now owns 1,133,373 shares of the company’s stock valued at $19,584,000 after purchasing an additional 11,733 shares during the period. Natixis Advisors L.P. purchased a new stake in Cinemark in the first quarter worth approximately $247,000. Bank of Montreal Can raised its stake in Cinemark by 63.4% during the 1st quarter. Bank of Montreal Can now owns 52,765 shares of the company’s stock valued at $923,000 after buying an additional 20,477 shares during the last quarter. Finally, MetLife Investment Management LLC lifted its holdings in shares of Cinemark by 55.6% during the 1st quarter. MetLife Investment Management LLC now owns 58,176 shares of the company’s stock valued at $1,005,000 after buying an additional 20,792 shares during the period.

About Cinemark

(Get Free Report

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.

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Analyst Recommendations for Cinemark (NYSE:CNK)

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