StockNews.com lowered shares of Cinemark (NYSE:CNK – Free Report) from a hold rating to a sell rating in a report issued on Tuesday morning.
A number of other equities analysts have also recently commented on CNK. Macquarie lifted their price objective on shares of Cinemark from $21.00 to $24.00 and gave the stock an outperform rating in a research report on Tuesday, July 9th. B. Riley lifted their target price on shares of Cinemark from $27.00 to $31.00 and gave the stock a buy rating in a report on Monday, August 5th. Morgan Stanley upped their price target on shares of Cinemark from $26.00 to $29.00 and gave the company an overweight rating in a research note on Monday, August 5th. JPMorgan Chase & Co. raised their price objective on shares of Cinemark from $22.00 to $25.00 and gave the stock a neutral rating in a research report on Monday, August 5th. Finally, Roth Capital raised Cinemark from a hold rating to a strong-buy rating in a research report on Monday, June 24th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Cinemark currently has a consensus rating of Moderate Buy and an average price target of $24.60.
Cinemark Stock Performance
Shares of CNK stock traded down $0.37 on Tuesday, reaching $26.53. The stock had a trading volume of 2,263,636 shares, compared to its average volume of 3,077,805. Cinemark has a 12 month low of $13.19 and a 12 month high of $26.92. The firm has a market capitalization of $3.25 billion, a price-to-earnings ratio of 18.27, a P/E/G ratio of 2.14 and a beta of 2.36. The firm’s 50-day moving average is $21.24 and its two-hundred day moving average is $18.63. The company has a quick ratio of 1.45, a current ratio of 1.48 and a debt-to-equity ratio of 7.42.
Cinemark (NYSE:CNK – Get Free Report) last released its quarterly earnings data on Friday, August 2nd. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.25. Cinemark had a return on equity of 69.48% and a net margin of 7.12%. The firm had revenue of $734.20 million for the quarter, compared to analyst estimates of $691.74 million. During the same quarter in the prior year, the company earned $0.80 earnings per share. The business’s revenue for the quarter was down 22.1% compared to the same quarter last year. On average, research analysts expect that Cinemark will post 1.08 EPS for the current fiscal year.
Hedge Funds Weigh In On Cinemark
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CNK. Third Point LLC bought a new position in Cinemark in the 1st quarter valued at about $89,850,000. Steadfast Capital Management LP acquired a new stake in shares of Cinemark during the 1st quarter worth approximately $29,323,000. Hennessy Advisors Inc. acquired a new stake in shares of Cinemark during the 4th quarter worth approximately $16,001,000. Jericho Capital Asset Management L.P. bought a new position in Cinemark in the first quarter valued at approximately $15,975,000. Finally, Nut Tree Capital Management LP acquired a new position in Cinemark during the first quarter valued at approximately $13,250,000.
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.