Cinemark (NYSE:CNK) Downgraded by Wedbush to Hold

Cinemark (NYSE:CNK) was downgraded by equities research analysts at Wedbush from a “strong-buy” rating to a “hold” rating in a research note 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.

Other research analysts have also issued research reports about the company. Macquarie lifted their price target on Cinemark from $32.00 to $34.00 and gave the stock an “outperform” rating in a report on Friday. Wells Fargo & Company lifted their price target on Cinemark from $31.00 to $35.00 and gave the stock an “overweight” rating in a report on Friday. Roth Mkm boosted their price objective on shares of Cinemark from $30.00 to $33.00 and gave the company a “buy” rating in a report on Thursday, October 10th. B. Riley lowered shares of Cinemark from a “buy” rating to a “neutral” rating and set a $31.00 price objective on the stock. in a report on Tuesday, August 27th. Finally, Morgan Stanley boosted their price objective on shares of Cinemark from $29.00 to $35.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $30.80.

Cinemark Trading Up 0.3 %

Shares of CNK opened at $29.85 on Friday. Cinemark has a 52-week low of $13.19 and a 52-week high of $31.09. The company has a quick ratio of 1.26, a current ratio of 1.29 and a debt-to-equity ratio of 6.23. The firm’s fifty day moving average is $28.24 and its two-hundred day moving average is $23.16. The stock has a market cap of $3.65 billion, a PE ratio of 30.77, a price-to-earnings-growth ratio of 2.07 and a beta of 2.36.

Cinemark (NYSE:CNK) last posted its quarterly 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. Cinemark had a return on equity of 41.87% and a net margin of 5.05%. The business had revenue of $921.80 million for the quarter, compared to analyst estimates of $894.90 million. During the same quarter in the previous year, the firm earned $0.61 EPS. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. Research analysts forecast that Cinemark will post 1.47 earnings per share for the current fiscal year.

Insider Buying and Selling at Cinemark

In other Cinemark news, insider Valmir Fernandes sold 25,000 shares of Cinemark stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $27.19, for a total value of $679,750.00. Following the completion of the transaction, the insider now directly owns 204,729 shares of the company’s stock, valued at $5,566,581.51. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Cinemark

Several institutional investors have recently bought and sold shares of the company. Principal Financial Group Inc. grew its position in Cinemark by 18.8% in the 3rd quarter. Principal Financial Group Inc. now owns 629,782 shares of the company’s stock valued at $17,533,000 after acquiring an additional 99,843 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Cinemark during the third quarter worth about $12,133,000. International Assets Investment Management LLC acquired a new position in shares of Cinemark during the third quarter worth about $9,530,000. Friedenthal Financial acquired a new position in shares of Cinemark during the third quarter worth about $777,000. Finally, Creative Planning grew its position in shares of Cinemark by 74.8% during the third quarter. Creative Planning now owns 20,907 shares of the company’s stock worth $582,000 after buying an additional 8,946 shares in 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.