Cinemark (NYSE:CNK) Upgraded by Wall Street Zen to “Hold” Rating

Cinemark (NYSE:CNK) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday.

A number of other analysts have also recently weighed in on the company. B. Riley Financial reiterated a “neutral” rating on shares of Cinemark in a research report on Thursday. Benchmark reiterated a “buy” rating on shares of Cinemark in a research note on Thursday. Morgan Stanley restated an “equal weight” rating and set a $28.00 price target (down previously from $35.00) on shares of Cinemark in a research report on Thursday, December 18th. Macquarie Infrastructure dropped their price objective on shares of Cinemark from $36.00 to $34.00 and set an “outperform” rating on the stock in a report on Thursday, January 15th. Finally, UBS Group upgraded shares of Cinemark to a “buy” rating in a research report on Tuesday, January 20th. Ten research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $32.08.

Cinemark Stock Performance

Shares of CNK opened at $26.52 on Friday. The stock has a market capitalization of $3.06 billion, a PE ratio of 30.48, a price-to-earnings-growth ratio of 2.70 and a beta of 1.13. The business’s fifty day moving average price is $23.97 and its 200 day moving average price is $25.89. The company has a debt-to-equity ratio of 4.74, a current ratio of 0.71 and a quick ratio of 0.72. Cinemark has a 12-month low of $21.60 and a 12-month high of $34.01.

Cinemark (NYSE:CNK) last announced its quarterly earnings data on Wednesday, February 18th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.08). Cinemark had a net margin of 4.44% and a return on equity of 34.11%. The business had revenue of $776.30 million for the quarter, compared to the consensus estimate of $778.41 million. During the same period in the prior year, the company earned $0.33 EPS. Cinemark’s quarterly revenue was down 4.7% on a year-over-year basis. Equities research analysts forecast that Cinemark will post 1.93 EPS for the current year.

Insider Buying and Selling at Cinemark

In other news, EVP Melissa Thomas sold 7,944 shares of the stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $26.05, for a total value of $206,941.20. Following the completion of the transaction, the executive vice president directly owned 159,416 shares in the company, valued at $4,152,786.80. This trade represents a 4.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 2.10% of the company’s stock.

Institutional Trading of Cinemark

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC boosted its holdings in Cinemark by 118.5% during the second quarter. EverSource Wealth Advisors LLC now owns 935 shares of the company’s stock worth $28,000 after buying an additional 507 shares in the last quarter. Elevation Point Wealth Partners LLC acquired a new position in shares of Cinemark in the 2nd quarter worth $47,000. Financial Consulate Inc. acquired a new stake in shares of Cinemark during the third quarter worth $50,000. Meeder Asset Management Inc. purchased a new stake in shares of Cinemark during the third quarter valued at $63,000. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of Cinemark by 20.1% during the third quarter. Smartleaf Asset Management LLC now owns 3,027 shares of the company’s stock valued at $83,000 after purchasing an additional 506 shares during the last quarter.

About Cinemark

Cinemark Holdings, Inc (NYSE: CNK) is a leading theatrical exhibitor that acquires, develops and operates motion picture theatres under the Cinemark® brand in the United States and Latin America. The company’s core business involves the presentation of first-run feature films coupled with an array of in‐theatre services, including concessions, premium auditoriums and loyalty programs. Cinemark’s exhibition portfolio encompasses both corporate‐owned and franchised complexes, offering moviegoers a range of experiences from standard screens to large‐format halls.

The company’s product offerings extend beyond ticket sales to include an assortment of concession items, such as popcorn, fountain beverages, candy and specialty snacks, as well as bar and lounge concepts in select locations.