Cinemark (NYSE:CNK) Reaches New 52-Week Low at $12.76

Shares of Cinemark Holdings, Inc. (NYSE:CNKGet Rating) reached a new 52-week low on Wednesday . The stock traded as low as $12.76 and last traded at $12.86, with a volume of 24951 shares. The stock had previously closed at $13.06.

Wall Street Analyst Weigh In

CNK has been the subject of several recent analyst reports. Benchmark set a $27.00 price target on Cinemark in a research note on Tuesday, July 19th. StockNews.com upgraded Cinemark from a “sell” rating to a “hold” rating in a research note on Monday, August 8th. Wells Fargo & Company decreased their price target on Cinemark from $22.00 to $18.00 and set an “equal weight” rating for the company in a research note on Monday, August 8th. B. Riley decreased their price target on Cinemark from $29.00 to $23.00 and set a “buy” rating for the company in a research note on Tuesday, June 21st. Finally, Wedbush reaffirmed an “outperform” rating and issued a $22.00 price objective on shares of Cinemark in a report on Tuesday, August 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $21.58.

Cinemark Stock Down 0.6 %

The company has a fifty day simple moving average of $16.04 and a 200-day simple moving average of $15.99. The company has a quick ratio of 1.17, a current ratio of 1.20 and a debt-to-equity ratio of 11.75. The firm has a market cap of $1.51 billion, a P/E ratio of -6.83 and a beta of 2.18.

Cinemark (NYSE:CNKGet Rating) last released its quarterly earnings results on Friday, August 5th. The company reported ($0.61) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.83). Cinemark had a negative net margin of 9.52% and a negative return on equity of 43.57%. The company had revenue of $744.10 million for the quarter, compared to the consensus estimate of $733.88 million. During the same period in the prior year, the firm posted ($1.19) EPS. The business’s revenue for the quarter was up 152.6% on a year-over-year basis. On average, equities analysts anticipate that Cinemark Holdings, Inc. will post -1.35 earnings per share for the current year.

Institutional Trading of Cinemark

Hedge funds have recently bought and sold shares of the stock. Elequin Capital LP purchased a new position in shares of Cinemark in the first quarter valued at about $25,000. Point72 Hong Kong Ltd purchased a new position in shares of Cinemark in the fourth quarter valued at about $32,000. Herold Advisors Inc. purchased a new position in shares of Cinemark in the first quarter valued at about $35,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in shares of Cinemark in the fourth quarter valued at about $37,000. Finally, Captrust Financial Advisors lifted its position in shares of Cinemark by 107.2% in the second quarter. Captrust Financial Advisors now owns 4,783 shares of the company’s stock valued at $72,000 after acquiring an additional 2,475 shares in the last quarter. Institutional investors own 96.54% of the company’s stock.

About Cinemark

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Cinemark Holdings, Inc, together with its subsidiaries, engages in the motion picture exhibition business. As of June 30, 2022, it operated 522 theatres with 5,868 screens in the United States, and South and Central America. The company was founded in 1984 and is headquartered in Plano, Texas.

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