Cinemark (NYSE:CNK) Rating Increased to Hold at Wall Street Zen

Key Points

• Cinemark's rating was upgraded from a "sell" to a "hold" by Wall Street Zen, indicating a more optimistic outlook on the stock.
• The company's latest earnings showed a revenue of $940.50 million, which is a 28.1% increase year-over-year, despite missing EPS estimates.
• Analysts have mixed views on Cinemark, with a consensus rating of "Moderate Buy" and an average target price of $33.67, reflecting a range of buy, hold, and sell ratings from various analysts.

Cinemark (NYSE:CNK - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued on Sunday.

Several other research analysts also recently commented on CNK. Wells Fargo & Company reissued an "overweight" rating and set a $33.00 target price (down previously from $36.00) on shares of Cinemark in a research note on Monday, August 4th. Barrington Research reaffirmed an "outperform" rating and issued a $36.00 price objective on shares of Cinemark in a research note on Monday, August 4th. B. Riley initiated coverage on Cinemark in a research note on Friday, May 16th. They issued a "neutral" rating and a $35.00 price objective for the company. Benchmark reaffirmed a "buy" rating and issued a $35.00 price objective on shares of Cinemark in a research note on Wednesday, July 2nd. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Cinemark in a research note on Thursday, July 10th. They issued a "buy" rating and a $36.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $33.67.

Cinemark Trading Down 0.6%

CNK opened at $24.83 on Friday. Cinemark has a twelve month low of $23.12 and a twelve month high of $36.28. The company has a 50-day simple moving average of $29.88 and a 200 day simple moving average of $28.93. The company has a quick ratio of 0.76, a current ratio of 0.91 and a debt-to-equity ratio of 4.32. The stock has a market capitalization of $2.86 billion, a price-to-earnings ratio of 13.57, a P/E/G ratio of 1.78 and a beta of 1.90.

Cinemark (NYSE:CNK - Get Free Report) last issued its earnings results on Friday, August 1st. The company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.15). The business had revenue of $940.50 million for the quarter, compared to analyst estimates of $942.14 million. Cinemark had a return on equity of 59.16% and a net margin of 9.13%. The firm's revenue was up 28.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.32 EPS. Analysts predict that Cinemark will post 1.93 EPS for the current fiscal year.

Insider Buying and Selling at Cinemark

In other Cinemark news, insider Valmir Fernandes sold 25,000 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $33.01, for a total transaction of $825,250.00. Following the completion of the sale, the insider owned 130,612 shares of the company's stock, valued at approximately $4,311,502.12. This represents a 16.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Melissa Thomas sold 7,200 shares of the stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $31.43, for a total transaction of $226,296.00. Following the sale, the executive vice president directly owned 210,968 shares of the company's stock, valued at $6,630,724.24. This represents a 3.30% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 84,724 shares of company stock valued at $2,724,435. 2.10% of the stock is currently owned by company insiders.

Institutional Trading of Cinemark

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its position in shares of Cinemark by 2.8% during the 1st quarter. Principal Financial Group Inc. now owns 681,435 shares of the company's stock worth $16,961,000 after buying an additional 18,645 shares during the period. GHP Investment Advisors Inc. grew its position in shares of Cinemark by 104.8% during the 1st quarter. GHP Investment Advisors Inc. now owns 28,365 shares of the company's stock worth $706,000 after buying an additional 14,518 shares during the period. Franklin Resources Inc. grew its position in shares of Cinemark by 25.0% during the 4th quarter. Franklin Resources Inc. now owns 70,964 shares of the company's stock worth $2,198,000 after buying an additional 14,207 shares during the period. GAMMA Investing LLC grew its position in shares of Cinemark by 1,677.9% during the 1st quarter. GAMMA Investing LLC now owns 52,020 shares of the company's stock worth $1,295,000 after buying an additional 49,094 shares during the period. Finally, Cerity Partners LLC acquired a new stake in shares of Cinemark during the 1st quarter worth approximately $2,081,000.

About Cinemark

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.

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