Cinemark Holdings, Inc. (NYSE:CNK – Get Free Report)’s share price gapped down prior to trading on Thursday after The Goldman Sachs Group lowered their price target on the stock from $16.00 to $12.00. The stock had previously closed at $13.84, but opened at $13.49. The Goldman Sachs Group currently has a sell rating on the stock. Cinemark shares last traded at $13.51, with a volume of 669,943 shares changing hands.
Several other research firms also recently commented on CNK. Benchmark upped their price objective on Cinemark from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Friday, October 6th. Wedbush reissued an “outperform” rating and set a $22.00 target price (up from $20.00) on shares of Cinemark in a research note on Monday, October 30th. Roth Mkm cut their target price on Cinemark from $20.00 to $16.00 and set a “neutral” rating for the company in a research note on Tuesday, December 5th. B. Riley cut Cinemark from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $23.00 to $15.00 in a report on Tuesday, January 2nd. Finally, Wells Fargo & Company cut Cinemark from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $16.00 to $13.00 in a report on Wednesday, December 20th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $17.80.
Institutional Investors Weigh In On Cinemark
Large investors have recently bought and sold shares of the stock. VitalStone Financial LLC acquired a new stake in Cinemark during the 1st quarter valued at $27,000. Tower Research Capital LLC TRC lifted its stake in shares of Cinemark by 38.8% during the 1st quarter. Tower Research Capital LLC TRC now owns 2,680 shares of the company’s stock worth $39,000 after purchasing an additional 749 shares during the period. Advisor Group Holdings Inc. lifted its stake in shares of Cinemark by 28.3% during the 4th quarter. Advisor Group Holdings Inc. now owns 5,194 shares of the company’s stock worth $45,000 after purchasing an additional 1,147 shares during the period. Coppell Advisory Solutions LLC purchased a new position in shares of Cinemark during the 2nd quarter worth $48,000. Finally, State of Wyoming purchased a new position in shares of Cinemark during the 2nd quarter worth $55,000.
Cinemark Trading Down 2.7 %
The company has a current ratio of 1.55, a quick ratio of 1.51 and a debt-to-equity ratio of 7.36. The company has a market cap of $1.64 billion, a PE ratio of 24.71, a price-to-earnings-growth ratio of 1.66 and a beta of 2.22. The business has a 50 day simple moving average of $14.51 and a two-hundred day simple moving average of $16.00.
Cinemark (NYSE:CNK – Get Free Report) last issued its earnings results on Friday, November 3rd. The company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.20. The business had revenue of $874.80 million for the quarter, compared to analyst estimates of $845.61 million. Cinemark had a return on equity of 51.32% and a net margin of 3.53%. The business’s quarterly revenue was up 34.5% on a year-over-year basis. During the same period last year, the company posted ($0.20) EPS. On average, analysts forecast that Cinemark Holdings, Inc. will post 1.3 EPS for the current fiscal year.
Cinemark Company Profile
Cinemark Holdings, Inc, together with its subsidiaries, engages in the motion picture exhibition business. As of February 24, 20223 it operated 518 theatres with 5,847 screens in the United States, and South and Central America. The company was founded in 1984 and is headquartered in Plano, Texas.