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

Key Points

• Cinemark's stock has been given a "hold (C+)" rating, as reported by Weiss Ratings, despite recent upgrades from various analysts.
• The company reported $0.63 earnings per share, missing estimates and showing a 28.1% increase in quarterly revenue compared to the previous year.
• Cinemark's shares have a current market cap of $2.96 billion and have experienced a price fluctuation with a fifty-two week low of $23.12 and a high of $36.28.

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

A number of other equities research analysts have also recently weighed in on 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. Wall Street Zen upgraded Cinemark from a "sell" rating to a "hold" rating in a report on Sunday, August 10th. Barrington Research restated an "outperform" rating and set a $36.00 price target on shares of Cinemark in a report on Tuesday, September 23rd. Zacks Research upgraded Cinemark from a "strong sell" rating to a "hold" rating in a report on Friday, October 3rd. Finally, Wedbush upgraded Cinemark from a "neutral" rating to an "outperform" rating and upped their price target for the stock from $32.00 to $37.00 in a report on Friday, July 11th. Ten equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $34.91.

Cinemark Trading Down 2.2%

Shares of NYSE CNK traded down $0.59 during trading on Wednesday, reaching $25.72. The stock had a trading volume of 3,251,388 shares, compared to its average volume of 3,481,426. Cinemark has a fifty-two week low of $23.12 and a fifty-two week high of $36.28. The company has a debt-to-equity ratio of 4.32, a quick ratio of 0.88 and a current ratio of 0.91. The business's 50-day moving average price is $26.72 and its 200-day moving average price is $28.69. The company has a market cap of $2.96 billion, a P/E ratio of 14.05, a PEG ratio of 1.88 and a beta of 1.75.

Cinemark (NYSE:CNK - Get Free Report) last issued its quarterly earnings data on Friday, August 1st. The company reported $0.63 earnings per share 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 firm had revenue of $940.50 million during the quarter, compared to analyst estimates of $942.14 million. During the same period in the previous year, the firm posted $0.32 earnings per share. The company's quarterly revenue was up 28.1% compared to the same quarter last year. On average, equities research analysts predict that Cinemark will post 1.93 EPS for the current fiscal year.

Insider Activity

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

Institutional Trading of Cinemark

Large investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC raised its stake in Cinemark by 118.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 935 shares of the company's stock valued at $28,000 after acquiring an additional 507 shares during the last quarter. Elevation Point Wealth Partners LLC purchased a new stake in Cinemark during the 2nd quarter valued at approximately $47,000. Russell Investments Group Ltd. raised its stake in Cinemark by 242.9% during the 1st quarter. Russell Investments Group Ltd. now owns 3,532 shares of the company's stock valued at $88,000 after acquiring an additional 2,502 shares during the last quarter. GAMMA Investing LLC raised its stake in Cinemark by 66.2% during the 2nd quarter. GAMMA Investing LLC now owns 3,474 shares of the company's stock valued at $105,000 after acquiring an additional 1,384 shares during the last quarter. Finally, CWM LLC raised its stake in Cinemark by 20.6% during the 1st quarter. CWM LLC now owns 6,548 shares of the company's stock valued at $163,000 after acquiring an additional 1,118 shares during the last quarter.

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.

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