Cinemark's (CNK) Hold (C+) Rating Reaffirmed at Weiss Ratings

Key Points

• Cinemark's stock rating has been reaffirmed as a "hold (C+)" by Weiss Ratings, reflecting a cautious outlook from analysts.
• Various financial institutions have recently adjusted their ratings and price targets for Cinemark, with recommendations ranging from "buy" to "overweight", while the average target price stands at $35.30.
• The company reported a missed earnings estimate of $0.63 per share, falling short of the expected $0.78, despite year-over-year revenue growth of 28.1% to $940.50 million.

Cinemark (NYSE:CNK - Get Free Report)'s stock had its "hold (c+)" rating restated by equities research analysts at Weiss Ratings in a note issued to investors on Friday,Weiss Ratings reports.

CNK has been the subject of a number of other reports. Roth Capital decreased their target price on Cinemark from $36.00 to $34.00 and set a "buy" rating for the company in a research note on Monday, August 4th. Wall Street Zen upgraded Cinemark from a "sell" rating to a "hold" rating in a research note on Sunday, August 10th. Wells Fargo & Company restated an "overweight" rating and issued a $33.00 target price (down from $36.00) on shares of Cinemark in a research note on Monday, August 4th. JPMorgan Chase & Co. boosted their price objective on Cinemark from $37.00 to $38.00 and gave the stock an "overweight" rating in a research report on Thursday, October 9th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Cinemark in a research report on Thursday, July 10th. They set a "buy" rating and a $36.00 price objective for the company. Nine research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Cinemark presently has a consensus rating of "Moderate Buy" and an average target price of $35.30.

Cinemark Stock Performance

CNK stock traded down $0.00 during midday trading on Friday, reaching $26.44. The company had a trading volume of 2,588,248 shares, compared to its average volume of 3,435,088. The company has a quick ratio of 0.88, a current ratio of 0.91 and a debt-to-equity ratio of 4.32. The stock has a 50 day moving average price of $26.93 and a 200 day moving average price of $28.79. Cinemark has a fifty-two week low of $23.12 and a fifty-two week high of $36.28. The firm has a market capitalization of $3.04 billion, a PE ratio of 14.45, a P/E/G ratio of 1.89 and a beta of 1.75.

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 analysts' consensus estimates of $0.78 by ($0.15). Cinemark had a net margin of 9.13% and a return on equity of 59.16%. The company had revenue of $940.50 million during the quarter, compared to analyst estimates of $942.14 million. During the same quarter in the previous year, the firm earned $0.32 earnings per share. The business's revenue was up 28.1% on a year-over-year basis. Analysts anticipate that Cinemark will post 1.93 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Melissa Thomas sold 7,200 shares of the business's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $25.17, for a total transaction of $181,224.00. Following the sale, the executive vice president owned 203,768 shares of the company's stock, valued at $5,128,840.56. The trade was a 3.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CNK. Marshall Wace LLP increased its holdings in shares of Cinemark by 758.9% in the second quarter. Marshall Wace LLP now owns 4,497,305 shares of the company's stock valued at $135,729,000 after buying an additional 3,973,689 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Cinemark by 106.9% in the second quarter. Assenagon Asset Management S.A. now owns 2,589,372 shares of the company's stock valued at $78,147,000 after buying an additional 1,338,153 shares in the last quarter. Nuveen LLC acquired a new stake in Cinemark during the 1st quarter valued at $32,297,000. Squarepoint Ops LLC raised its stake in Cinemark by 119.9% during the 2nd quarter. Squarepoint Ops LLC now owns 2,180,513 shares of the company's stock valued at $65,808,000 after purchasing an additional 1,188,709 shares during the period. Finally, Man Group plc acquired a new stake in Cinemark during the 2nd quarter valued at $33,953,000.

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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