Cinemark (NYSE:CNK) Downgraded to Hold Rating by Zacks Research

Cinemark (NYSE:CNK) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Tuesday,Zacks.com reports.

A number of other brokerages also recently issued reports on CNK. Wells Fargo & Company increased their price target on shares of Cinemark from $32.00 to $36.00 and gave the company an “overweight” rating in a report on Thursday, April 9th. Barrington Research reiterated an “outperform” rating and issued a $36.00 price target on shares of Cinemark in a report on Monday, May 4th. Roth Mkm reiterated a “buy” rating and issued a $37.00 price target on shares of Cinemark in a report on Thursday, April 23rd. Morgan Stanley increased their price target on shares of Cinemark from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Thursday, April 30th. Finally, The Goldman Sachs Group reiterated a “sell” rating and issued a $22.00 price target on shares of Cinemark in a report on Thursday, February 19th. Ten equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Cinemark currently has an average rating of “Moderate Buy” and an average price target of $33.31.

Cinemark Stock Down 2.7%

CNK stock opened at $29.78 on Tuesday. The company has a fifty day moving average of $28.40 and a 200-day moving average of $26.37. The company has a debt-to-equity ratio of 5.03, a quick ratio of 0.58 and a current ratio of 0.62. The stock has a market capitalization of $3.48 billion, a PE ratio of 26.35 and a beta of 1.00. Cinemark has a one year low of $21.60 and a one year high of $32.95.

Cinemark (NYSE:CNK) last announced its quarterly earnings results on Friday, May 1st. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The company had revenue of $643.10 million during the quarter, compared to analysts’ expectations of $632.74 million. Cinemark had a net margin of 5.31% and a return on equity of 41.31%. The business’s revenue for the quarter was up 18.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.32) EPS. As a group, analysts expect that Cinemark will post 2.11 EPS for the current year.

Hedge Funds Weigh In On Cinemark

Hedge funds have recently added to or reduced their stakes in the business. Intech Investment Management LLC increased its holdings in Cinemark by 129.0% during the 3rd quarter. Intech Investment Management LLC now owns 156,602 shares of the company’s stock valued at $4,388,000 after acquiring an additional 88,203 shares in the last quarter. Jain Global LLC increased its holdings in Cinemark by 37.4% during the 3rd quarter. Jain Global LLC now owns 1,644,623 shares of the company’s stock valued at $46,082,000 after acquiring an additional 447,468 shares in the last quarter. Gabelli Funds LLC purchased a new stake in shares of Cinemark during the third quarter worth about $1,444,000. Cartenna Capital LP grew its holdings in shares of Cinemark by 29.4% during the third quarter. Cartenna Capital LP now owns 1,650,000 shares of the company’s stock worth $46,233,000 after buying an additional 375,000 shares in the last quarter. Finally, Junto Capital Management LP purchased a new stake in shares of Cinemark during the third quarter worth about $25,509,000.

Cinemark Company Profile

Cinemark Holdings, Inc (NYSE: CNK) is a leading theatrical exhibitor that acquires, develops and operates motion picture theatres under the Cinemark® brand in the United States and Latin America. The company’s core business involves the presentation of first-run feature films coupled with an array of in‐theatre services, including concessions, premium auditoriums and loyalty programs. Cinemark’s exhibition portfolio encompasses both corporate‐owned and franchised complexes, offering moviegoers a range of experiences from standard screens to large‐format halls.

The company’s product offerings extend beyond ticket sales to include an assortment of concession items, such as popcorn, fountain beverages, candy and specialty snacks, as well as bar and lounge concepts in select locations.