Cinemark (NYSE:CNK) Downgraded by StockNews.com to Sell

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

A number of other analysts have also weighed in on CNK. The Goldman Sachs Group dropped their price objective on Cinemark from $16.00 to $12.00 and set a sell rating for the company in a research note on Thursday, January 11th. B. Riley upped their target price on Cinemark from $14.00 to $16.00 and gave the company a neutral rating in a report on Friday. Benchmark restated a buy rating and set a $23.00 target price on shares of Cinemark in a report on Friday. Wells Fargo & Company upgraded Cinemark from an underweight rating to an overweight rating and upped their target price for the company from $13.00 to $23.00 in a report on Friday, April 5th. Finally, Wedbush restated an outperform rating and set a $23.00 target price on shares of Cinemark in a report on Thursday, April 25th. Two analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Cinemark presently has an average rating of Hold and an average target price of $20.33.

Cinemark Stock Performance

NYSE:CNK opened at $17.72 on Friday. The firm has a market cap of $2.15 billion, a PE ratio of 12.22, a price-to-earnings-growth ratio of 2.09 and a beta of 2.25. Cinemark has a fifty-two week low of $13.19 and a fifty-two week high of $20.40. The company has a debt-to-equity ratio of 7.15, a quick ratio of 1.42 and a current ratio of 1.45. The business has a 50 day moving average price of $17.91 and a 200-day moving average price of $15.85.

Cinemark (NYSE:CNK) last released its quarterly earnings data on Thursday, May 2nd. The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.40. The firm 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 business’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.03) earnings per share. Equities research analysts predict that Cinemark will post 0.86 earnings per share for the current year.

Insiders Place Their Bets

In other Cinemark news, insider Wanda Marie Gierhart sold 19,593 shares of the stock in a transaction on 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 in the company, valued at $3,008,149.25. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 2.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cinemark

A number of institutional investors have recently modified their holdings of the stock. Easterly Investment Partners LLC grew its stake in shares of Cinemark by 1.1% in the first quarter. Easterly Investment Partners LLC now owns 491,903 shares of the company’s stock worth $8,839,000 after acquiring an additional 5,236 shares during the last quarter. Commonwealth Equity Services LLC grew its stake in shares of Cinemark by 7.7% in the first quarter. Commonwealth Equity Services LLC now owns 369,205 shares of the company’s stock worth $6,635,000 after acquiring an additional 26,335 shares during the last quarter. New York State Teachers Retirement System grew its stake in shares of Cinemark by 2.3% in the first quarter. New York State Teachers Retirement System now owns 111,815 shares of the company’s stock worth $2,009,000 after acquiring an additional 2,464 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Cinemark by 24.8% in the first quarter. Assenagon Asset Management S.A. now owns 359,434 shares of the company’s stock worth $6,459,000 after acquiring an additional 71,376 shares during the last quarter. Finally, Hennessy Advisors Inc. grew its stake in shares of Cinemark by 14.1% in the first quarter. Hennessy Advisors Inc. now owns 1,295,800 shares of the company’s stock worth $23,286,000 after acquiring an additional 160,200 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.