Cinemark (NYSE:CNK) Upgraded by StockNews.com to “Hold”

StockNews.com upgraded shares of Cinemark (NYSE:CNK) from a sell rating to a hold rating in a research note issued to investors on Monday.

Other analysts also recently issued reports about the stock. Benchmark reissued a buy rating and issued a $23.00 price target on shares of Cinemark in a report on Monday, July 1st. Roth Mkm raised their price objective on shares of Cinemark from $28.00 to $30.00 and gave the stock a buy rating in a report on Monday. Barrington Research reaffirmed an outperform rating and set a $24.00 price objective on shares of Cinemark in a report on Friday. Roth Capital raised shares of Cinemark from a hold rating to a strong-buy rating in a report on Monday, June 24th. Finally, Morgan Stanley increased their target price on shares of Cinemark from $26.00 to $29.00 and gave the stock an overweight rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Cinemark currently has a consensus rating of Moderate Buy and a consensus price target of $24.60.

Cinemark Stock Performance

Cinemark stock traded up $0.78 during mid-day trading on Monday, reaching $26.20. The company had a trading volume of 4,568,009 shares, compared to its average volume of 3,089,784. 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 has a 52 week low of $13.19 and a 52 week high of $26.43. The company has a 50 day moving average of $20.33 and a 200-day moving average of $18.20. The firm has a market cap of $3.21 billion, a price-to-earnings ratio of 18.07, a PEG ratio of 2.14 and a beta of 2.36.

Cinemark (NYSE:CNK) last issued its quarterly earnings results on Friday, August 2nd. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.25. Cinemark had a net margin of 7.12% and a return on equity of 69.48%. The firm had revenue of $734.20 million during the quarter, compared to the consensus estimate of $691.74 million. During the same period in the prior year, the firm earned $0.80 EPS. The business’s revenue was down 22.1% on a year-over-year basis. On average, sell-side analysts expect that Cinemark will post 1.08 EPS for the current fiscal year.

Institutional Trading of Cinemark

Several institutional investors and hedge funds have recently added to or reduced their stakes in CNK. 1620 Investment Advisors Inc. bought a new position in Cinemark in the second quarter valued at approximately $79,000. Fifth Third Bancorp grew its position in shares of Cinemark by 414.4% during the 2nd quarter. Fifth Third Bancorp now owns 4,480 shares of the company’s stock worth $97,000 after buying an additional 3,609 shares during the period. NBC Securities Inc. increased its stake in shares of Cinemark by 17.2% in the 4th quarter. NBC Securities Inc. now owns 4,764 shares of the company’s stock valued at $67,000 after acquiring an additional 700 shares during the last quarter. First Dallas Securities Inc. bought a new stake in shares of Cinemark in the 2nd quarter valued at about $208,000. Finally, Inspire Advisors LLC acquired a new stake in shares of Cinemark in the 1st quarter valued at approximately $240,000.

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.