StockNews.com Upgrades Cinemark (NYSE:CNK) to Hold

Cinemark (NYSE:CNK) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Wednesday.

Several other research firms have also weighed in on CNK. Barrington Research reiterated an “outperform” rating and set a $24.00 price objective on shares of Cinemark in a research note on Monday, May 6th. Wells Fargo & Company raised Cinemark from an “underweight” rating to an “overweight” rating and raised their price target for the stock from $13.00 to $23.00 in a report on Friday, April 5th. Benchmark restated a “buy” rating and set a $23.00 price objective on shares of Cinemark in a research note on Friday, May 3rd. Wedbush reiterated an “outperform” rating and issued a $23.00 target price on shares of Cinemark in a research note on Thursday, April 25th. Finally, Roth Mkm upped their price target on shares of Cinemark from $17.00 to $19.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $20.33.

Cinemark Stock Performance

Shares of NYSE CNK opened at $17.76 on Wednesday. The company has a quick ratio of 1.45, a current ratio of 1.48 and a debt-to-equity ratio of 7.42. The stock’s 50 day moving average price is $17.97 and its two-hundred day moving average price is $16.01. Cinemark has a 52-week low of $13.19 and a 52-week high of $20.40. The stock has a market capitalization of $2.17 billion, a P/E ratio of 12.25, a PEG ratio of 1.56 and a beta of 2.25.

Cinemark (NYSE:CNK) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.40. Cinemark had a return on equity of 69.48% and a net margin of 7.12%. The firm had revenue of $579.00 million for the quarter, compared to analysts’ expectations of $561.91 million. During the same period last year, the business posted ($0.03) earnings per share. The firm’s revenue for the quarter was down 5.2% on a year-over-year basis. On average, analysts anticipate that Cinemark will post 1.12 earnings per share for the current fiscal year.

Insider Transactions at Cinemark

In related news, insider Wanda Marie Gierhart sold 19,593 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $16.75, for a total transaction of $328,182.75. Following the transaction, the insider now owns 179,591 shares in the company, valued at $3,008,149.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On Cinemark

Hedge funds and other institutional investors have recently bought and sold shares of the business. NBC Securities Inc. bought a new position in shares of Cinemark during the 3rd quarter valued at about $74,000. DekaBank Deutsche Girozentrale acquired a new position in Cinemark in the third quarter worth approximately $193,000. Algert Global LLC bought a new position in shares of Cinemark in the third quarter valued at $222,000. Inspire Advisors LLC acquired a new stake in shares of Cinemark during the 1st quarter valued at $240,000. Finally, Virtu Financial LLC bought a new stake in shares of Cinemark during the 4th quarter worth $192,000.

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.