Cinemark (NYSE:CNK) Cut to “Neutral” at B. Riley

Cinemark (NYSE:CNK) was downgraded by B. Riley from a “buy” rating to a “neutral” rating in a report released on Tuesday, MarketBeat.com reports. They currently have a $31.00 target price on the stock. B. Riley’s price target would indicate a potential upside of 11.89% from the company’s previous close.

Several other analysts have also recently weighed in on the stock. Roth Mkm lifted their price objective on shares of Cinemark from $28.00 to $30.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. JPMorgan Chase & Co. lifted their price objective on Cinemark from $22.00 to $25.00 and gave the company a “neutral” rating in a report on Monday, August 5th. Benchmark restated a “buy” rating and issued a $23.00 price target on shares of Cinemark in a research report on Monday, July 1st. Morgan Stanley upped their price objective on shares of Cinemark from $26.00 to $29.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Finally, Roth Capital raised shares of Cinemark from a “hold” rating to a “strong-buy” rating in a report on Monday, June 24th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Cinemark presently has a consensus rating of “Moderate Buy” and an average price target of $24.60.

Cinemark Price Performance

NYSE:CNK opened at $27.71 on Tuesday. The firm’s fifty day moving average price is $23.52 and its two-hundred day moving average price is $19.69. The company has a debt-to-equity ratio of 7.42, a current ratio of 1.48 and a quick ratio of 1.45. The company has a market cap of $3.39 billion, a P/E ratio of 19.11, a P/E/G ratio of 2.14 and a beta of 2.36. Cinemark has a one year low of $13.19 and a one year high of $28.43.

Cinemark (NYSE:CNK) last released its quarterly earnings results on Friday, August 2nd. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.25. Cinemark had a net margin of 7.12% and a return on equity of 69.48%. The firm had revenue of $734.20 million for the quarter, compared to analysts’ expectations of $691.74 million. During the same period in the prior year, the firm earned $0.80 EPS. The business’s revenue was down 22.1% on a year-over-year basis. Equities analysts expect that Cinemark will post 1.08 earnings per share for the current year.

Insider Transactions at Cinemark

In related news, insider Valmir Fernandes sold 25,000 shares of Cinemark stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $27.19, for a total transaction of $679,750.00. Following the sale, the insider now directly owns 204,729 shares in the company, valued at approximately $5,566,581.51. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On Cinemark

Large investors have recently modified their holdings of the business. Park West Asset Management LLC lifted its holdings in Cinemark by 34.3% during the 4th quarter. Park West Asset Management LLC now owns 1,175,000 shares of the company’s stock worth $16,556,000 after buying an additional 300,000 shares during the period. Sei Investments Co. increased its position in Cinemark by 38.1% during the 1st quarter. Sei Investments Co. now owns 115,124 shares of the company’s stock valued at $2,069,000 after purchasing an additional 31,739 shares during the period. Peconic Partners LLC increased its position in Cinemark by 66.7% during the 4th quarter. Peconic Partners LLC now owns 500,000 shares of the company’s stock valued at $7,045,000 after purchasing an additional 200,000 shares during the period. Hennessy Advisors Inc. raised its holdings in Cinemark by 14.1% during the 1st quarter. Hennessy Advisors Inc. now owns 1,295,800 shares of the company’s stock worth $23,286,000 after purchasing an additional 160,200 shares during the last quarter. Finally, Kodai Capital Management LP bought a new stake in shares of Cinemark in the 4th quarter valued at $3,994,000.

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.