Cinemark (NYSE:CNK) Cut to Sell at StockNews.com

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

Other analysts also recently issued reports about the company. Barrington Research restated an outperform rating and set a $24.00 target price on shares of Cinemark in a research report on Monday, April 22nd. The Goldman Sachs Group reduced their price target on Cinemark from $16.00 to $12.00 and set a sell rating on the stock in a research report on Thursday, January 11th. Benchmark reaffirmed a buy rating and issued a $23.00 price objective on shares of Cinemark in a report on Friday. Roth Mkm increased their target price on Cinemark from $17.00 to $19.00 and gave the stock a neutral rating in a report on Wednesday, April 10th. Finally, B. Riley boosted their price target on Cinemark from $14.00 to $16.00 and gave the company a neutral rating in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average target price of $20.33.

Cinemark Stock Up 0.7 %

NYSE:CNK opened at $17.72 on Friday. The firm has a market capitalization of $2.15 billion, a price-to-earnings ratio of 12.22, a price-to-earnings-growth ratio of 2.09 and a beta of 2.25. Cinemark has a twelve month low of $13.19 and a twelve month high of $20.40. The stock’s 50 day moving average price is $17.91 and its two-hundred day moving average price is $15.85. The company has a quick ratio of 1.42, a current ratio of 1.45 and a debt-to-equity ratio of 7.15.

Cinemark (NYSE:CNK) last released its quarterly earnings data on Thursday, May 2nd. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.40. The firm had revenue of $579.00 million during the quarter, compared to analysts’ expectations of $561.91 million. Cinemark had a net margin of 7.12% and a return on equity of 69.48%. The company’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.03) earnings per share. Equities research analysts expect that Cinemark will post 0.86 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Wanda Marie Gierhart sold 19,593 shares of the business’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $16.75, for a total transaction of $328,182.75. Following the sale, the insider now owns 179,591 shares in the company, valued at approximately $3,008,149.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Cinemark

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

About Cinemark

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.