Cinemark (NYSE:CNK) Rating Lowered to Hold at Wedbush

Wedbush lowered shares of Cinemark (NYSE:CNK - Free Report) from a strong-buy rating to a hold rating in a report issued on Friday, Zacks.com reports. Wedbush also issued estimates for Cinemark's Q3 2024 earnings at $0.58 EPS, Q4 2024 earnings at $0.45 EPS, FY2024 earnings at $1.50 EPS, Q1 2025 earnings at $0.01 EPS, Q2 2025 earnings at $0.43 EPS, Q2 2025 earnings at $0.38 EPS, Q3 2025 earnings at $0.65 EPS, Q4 2025 earnings at $0.69 EPS, FY2025 earnings at $1.70 EPS, FY2025 earnings at $1.78 EPS, FY2026 earnings at $2.08 EPS and FY2026 earnings at $2.00 EPS.

Several other brokerages also recently commented on CNK. Wells Fargo & Company boosted their target price on Cinemark from $31.00 to $35.00 and gave the stock an "overweight" rating in a research note on Friday. StockNews.com cut Cinemark from a "hold" rating to a "sell" rating in a report on Saturday. Barrington Research upgraded Cinemark from a "market perform" rating to an "outperform" rating and set a $36.00 price target on the stock in a report on Thursday. Macquarie boosted their price target on Cinemark from $32.00 to $34.00 and gave the stock an "outperform" rating in a report on Friday. Finally, Morgan Stanley boosted their price target on Cinemark from $29.00 to $35.00 and gave the stock an "overweight" rating in a report on Friday, October 11th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $30.80.

Cinemark Price Performance

NYSE CNK traded up $0.10 during trading on Friday, hitting $29.85. 3,262,820 shares of the company's stock were exchanged, compared to its average volume of 2,863,309. The company has a current ratio of 1.29, a quick ratio of 1.26 and a debt-to-equity ratio of 6.23. The company has a market cap of $3.65 billion, a PE ratio of 30.77, a P/E/G ratio of 2.07 and a beta of 2.36. Cinemark has a fifty-two week low of $13.19 and a fifty-two week high of $31.09. The stock's 50 day moving average price is $28.24 and its two-hundred day moving average price is $23.19.

Cinemark (NYSE:CNK - Get Free Report) last issued its earnings results on Thursday, October 31st. The company reported $1.19 EPS for the quarter, topping the consensus estimate of $0.58 by $0.61. The firm had revenue of $921.80 million during the quarter, compared to the consensus estimate of $894.90 million. Cinemark had a return on equity of 41.87% and a net margin of 5.05%. The business's quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.61 earnings per share. Research analysts expect that Cinemark will post 1.47 EPS for the current year.

Insider Activity at Cinemark

In other Cinemark news, insider Valmir Fernandes sold 25,000 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $27.19, for a total transaction of $679,750.00. Following the transaction, the insider now directly owns 204,729 shares in the company, valued at approximately $5,566,581.51. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cinemark

Institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC boosted its holdings in shares of Cinemark by 106.1% during the 3rd quarter. GAMMA Investing LLC now owns 2,020 shares of the company's stock worth $56,000 after buying an additional 1,040 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. raised its position in shares of Cinemark by 38.7% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,145 shares of the company's stock worth $68,000 after purchasing an additional 877 shares during the period. USA Financial Formulas acquired a new position in shares of Cinemark during the third quarter worth approximately $77,000. 1620 Investment Advisors Inc. acquired a new position in shares of Cinemark during the second quarter worth approximately $79,000. Finally, CWM LLC raised its position in shares of Cinemark by 134.4% during the third quarter. CWM LLC now owns 2,993 shares of the company's stock worth $83,000 after purchasing an additional 1,716 shares during the period.

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.