Cinemark (NYSE:CNK) Upgraded at Wall Street Zen

Cinemark (NYSE:CNK) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

Several other research firms have also issued reports on CNK. Roth Mkm reaffirmed a “buy” rating and issued a $36.00 price objective on shares of Cinemark in a research note on Thursday. Barrington Research restated an “outperform” rating and set a $32.00 target price on shares of Cinemark in a report on Thursday. Morgan Stanley reaffirmed an “equal weight” rating and issued a $28.00 price target (down previously from $35.00) on shares of Cinemark in a research report on Thursday, December 18th. Moffett Nathanson raised Cinemark from a “neutral” rating to a “buy” rating and set a $30.00 price objective on the stock in a report on Tuesday, January 20th. Finally, UBS Group upgraded Cinemark to a “buy” rating in a report on Tuesday, January 20th. Ten research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $32.08.

Cinemark Stock Performance

Shares of Cinemark stock opened at $26.52 on Friday. Cinemark has a 12 month low of $21.60 and a 12 month high of $34.01. The company has a quick ratio of 0.72, a current ratio of 0.71 and a debt-to-equity ratio of 4.74. The stock has a market cap of $3.06 billion, a PE ratio of 30.48, a price-to-earnings-growth ratio of 2.70 and a beta of 1.13. The business has a fifty day simple moving average of $23.97 and a 200-day simple moving average of $25.89.

Cinemark (NYSE:CNK) last announced its quarterly earnings data on Wednesday, February 18th. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.08). Cinemark had a net margin of 4.44% and a return on equity of 34.11%. The company had revenue of $776.30 million for the quarter, compared to analysts’ expectations of $778.41 million. During the same period in the previous year, the firm posted $0.33 earnings per share. The business’s revenue for the quarter was down 4.7% on a year-over-year basis. On average, sell-side analysts anticipate that Cinemark will post 1.93 EPS for the current fiscal year.

Insider Transactions at Cinemark

In other Cinemark news, EVP Melissa Thomas sold 22,082 shares of the business’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $24.81, for a total value of $547,854.42. Following the transaction, the executive vice president directly owned 167,360 shares in the company, valued at $4,152,201.60. The trade was a 11.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Cinemark

A number of institutional investors and hedge funds have recently bought and sold shares of CNK. Orbis Allan Gray Ltd grew its holdings in shares of Cinemark by 31.0% during the fourth quarter. Orbis Allan Gray Ltd now owns 15,057,911 shares of the company’s stock worth $349,946,000 after purchasing an additional 3,563,810 shares during the last quarter. Wellington Management Group LLP lifted its position in Cinemark by 8.4% during the 4th quarter. Wellington Management Group LLP now owns 9,536,900 shares of the company’s stock worth $221,638,000 after buying an additional 742,307 shares in the last quarter. Lavaca Capital LLC bought a new stake in Cinemark during the 4th quarter worth about $133,045,000. Marshall Wace LLP increased its position in Cinemark by 758.9% in the 2nd quarter. Marshall Wace LLP now owns 4,497,305 shares of the company’s stock valued at $135,729,000 after acquiring an additional 3,973,689 shares in the last quarter. Finally, State Street Corp raised its stake in shares of Cinemark by 1.5% in the fourth quarter. State Street Corp now owns 3,950,606 shares of the company’s stock worth $91,812,000 after acquiring an additional 60,176 shares during the last quarter.

About Cinemark

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.