Cinemark Holdings, Inc. (NYSE:CNK – Get Rating) shares fell 7.8% on Tuesday after The Goldman Sachs Group lowered their price target on the stock from $12.50 to $11.00. The Goldman Sachs Group currently has a sell rating on the stock. Cinemark traded as low as $10.17 and last traded at $10.31. 59,637 shares changed hands during trading, a decline of 98% from the average session volume of 2,796,827 shares. The stock had previously closed at $11.18.
Other equities research analysts also recently issued research reports about the company. B. Riley cut their price objective on Cinemark from $29.00 to $23.00 and set a “buy” rating for the company in a report on Tuesday, June 21st. Wedbush reissued an “outperform” rating and issued a $22.00 price objective on shares of Cinemark in a report on Tuesday, August 2nd. Morgan Stanley raised Cinemark from an “equal weight” rating to an “overweight” rating and set a $22.00 price objective for the company in a report on Tuesday, July 19th. Benchmark cut their price objective on Cinemark from $27.00 to $22.00 in a report on Wednesday, October 5th. Finally, Wells Fargo & Company cut their price objective on Cinemark from $22.00 to $18.00 and set an “equal weight” rating for the company in a report on Monday, August 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $20.00.
Institutional Investors Weigh In On Cinemark
Hedge funds have recently added to or reduced their stakes in the business. Elequin Capital LP acquired a new stake in Cinemark during the 1st quarter valued at $25,000. Herold Advisors Inc. bought a new position in Cinemark during the 1st quarter worth $35,000. Captrust Financial Advisors increased its position in Cinemark by 107.2% during the 2nd quarter. Captrust Financial Advisors now owns 4,783 shares of the company’s stock worth $72,000 after buying an additional 2,475 shares during the period. GHP Investment Advisors Inc. bought a new position in Cinemark during the 1st quarter worth $89,000. Finally, KBC Group NV bought a new position in Cinemark during the 2nd quarter worth $137,000. Institutional investors and hedge funds own 96.54% of the company’s stock.
Cinemark Stock Down 8.1 %
The company has a current ratio of 1.20, a quick ratio of 1.17 and a debt-to-equity ratio of 11.75. The stock has a market cap of $1.24 billion, a P/E ratio of -5.63 and a beta of 2.14. The firm has a 50-day simple moving average of $14.52 and a two-hundred day simple moving average of $15.64.
Cinemark (NYSE:CNK – Get Rating) last posted its quarterly earnings data on Friday, August 5th. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.04. The firm had revenue of $744.10 million for the quarter, compared to analysts’ expectations of $733.88 million. Cinemark had a negative return on equity of 43.57% and a negative net margin of 9.52%. The company’s quarterly revenue was up 152.6% compared to the same quarter last year. During the same quarter last year, the business earned ($1.19) EPS. Equities research analysts expect that Cinemark Holdings, Inc. will post -1.35 earnings per share for the current fiscal year.
About Cinemark
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.