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

Cinemark (NYSE:CNK) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Other research analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. upped their target price on shares of Cinemark from $35.00 to $36.00 and gave the company an “overweight” rating in a report on Monday, May 4th. Wells Fargo & Company increased their price target on shares of Cinemark from $32.00 to $36.00 and gave the stock an “overweight” rating in a research note on Thursday, April 9th. B. Riley Financial reiterated a “neutral” rating on shares of Cinemark in a research note on Friday, April 17th. Barrington Research reiterated an “outperform” rating and set a $36.00 price target on shares of Cinemark in a research note on Monday, May 4th. Finally, Wall Street Zen upgraded shares of Cinemark from a “hold” rating to a “buy” rating in a research note on Sunday. Ten research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $33.31.

Cinemark Trading Down 2.7%

Shares of Cinemark stock opened at $29.78 on Tuesday. The company has a fifty day simple moving average of $28.40 and a 200-day simple moving average of $26.37. Cinemark has a 12-month low of $21.60 and a 12-month high of $32.95. The company has a current ratio of 0.62, a quick ratio of 0.58 and a debt-to-equity ratio of 5.03. The stock has a market cap of $3.48 billion, a price-to-earnings ratio of 26.35 and a beta of 1.00.

Cinemark (NYSE:CNK) last issued its earnings results on Friday, May 1st. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.01). Cinemark had a net margin of 5.31% and a return on equity of 41.31%. The company had revenue of $643.10 million during the quarter, compared to analyst estimates of $632.74 million. During the same quarter in the previous year, the company posted ($0.32) EPS. The company’s quarterly revenue was up 18.9% on a year-over-year basis. On average, equities analysts forecast that Cinemark will post 2.11 EPS for the current fiscal year.

Institutional Trading of Cinemark

Several hedge funds have recently made changes to their positions in CNK. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Cinemark by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,699 shares of the company’s stock worth $1,635,000 after acquiring an additional 2,872 shares during the period. Woodline Partners LP acquired a new stake in shares of Cinemark in the 1st quarter worth $570,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Cinemark by 8.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 345,258 shares of the company’s stock worth $8,593,000 after acquiring an additional 25,490 shares during the period. Acadian Asset Management LLC acquired a new stake in shares of Cinemark in the 1st quarter worth $372,000. Finally, Russell Investments Group Ltd. lifted its stake in shares of Cinemark by 48.0% in the 2nd quarter. Russell Investments Group Ltd. now owns 5,228 shares of the company’s stock worth $158,000 after acquiring an additional 1,696 shares during the period.

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.