Cinemark (NYSE:CNK) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Cinemark (NYSE:CNK) from a sell rating to a hold rating in a research report released on Monday.

A number of other research firms also recently issued reports on CNK. Benchmark reissued a buy rating and issued a $23.00 price objective on shares of Cinemark in a report on Monday, July 1st. B. Riley lifted their price target on shares of Cinemark from $27.00 to $31.00 and gave the company a buy rating in a report on Monday. Roth Mkm lifted their price target on shares of Cinemark from $28.00 to $30.00 and gave the company a buy rating in a report on Monday. Wedbush reaffirmed an outperform rating and set a $25.00 price target on shares of Cinemark in a report on Monday, July 29th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Cinemark from $22.00 to $25.00 and gave the company a neutral rating in a report on Monday. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $24.60.

Cinemark Stock Performance

CNK opened at $25.97 on Monday. The company has a current ratio of 1.48, a quick ratio of 1.45 and a debt-to-equity ratio of 7.42. The company has a market cap of $3.18 billion, a price-to-earnings ratio of 17.91, a PEG ratio of 2.14 and a beta of 2.36. The company’s 50 day moving average is $20.70 and its 200 day moving average is $18.34. Cinemark has a 12-month low of $13.19 and a 12-month high of $26.46.

Cinemark (NYSE:CNK) last posted its quarterly earnings data on Friday, August 2nd. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.25. The company had revenue of $734.20 million for the quarter, compared to the consensus estimate of $691.74 million. Cinemark had a net margin of 7.12% and a return on equity of 69.48%. The firm’s revenue was down 22.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.80 earnings per share. On average, equities research analysts predict that Cinemark will post 1.08 EPS for the current year.

Institutional Investors Weigh In On Cinemark

Several institutional investors and hedge funds have recently modified their holdings of the stock. Headlands Technologies LLC bought a new stake in Cinemark in the second quarter worth $242,000. Texas Permanent School Fund Corp increased its position in Cinemark by 9.5% in the second quarter. Texas Permanent School Fund Corp now owns 101,403 shares of the company’s stock worth $2,192,000 after purchasing an additional 8,812 shares during the last quarter. Wakefield Asset Management LLLP bought a new stake in Cinemark in the second quarter worth $1,080,000. Arizona State Retirement System increased its position in Cinemark by 1.8% in the second quarter. Arizona State Retirement System now owns 30,636 shares of the company’s stock worth $662,000 after purchasing an additional 556 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in Cinemark by 1.4% in the second quarter. Victory Capital Management Inc. now owns 2,550,819 shares of the company’s stock worth $55,149,000 after purchasing an additional 35,993 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.