Cinemark (NYSE:CNK) Lowered to Hold Rating by Wells Fargo & Company

Cinemark (NYSE:CNK) was downgraded by research analysts at Wells Fargo & Company from a “strong-buy” rating to a “hold” rating in a research report issued on Thursday,Zacks.com reports.

A number of other brokerages have also commented on CNK. Guggenheim set a $37.00 target price on Cinemark in a research note on Thursday, July 2nd. The Goldman Sachs Group upgraded shares of Cinemark from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $23.00 to $30.00 in a research note on Wednesday, July 8th. Morgan Stanley boosted their price target on shares of Cinemark from $30.00 to $36.00 and gave the company an “equal weight” rating in a report on Tuesday, June 9th. Weiss Ratings restated a “hold (c)” rating on shares of Cinemark in a research note on Wednesday, June 24th. Finally, B. Riley Financial raised their price objective on shares of Cinemark from $34.00 to $36.00 and gave the stock a “neutral” rating in a report on Thursday, June 11th. Seven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $34.58.

Cinemark Trading Up 0.3%

Shares of CNK opened at $29.91 on Thursday. The stock’s 50-day moving average price is $30.05 and its 200 day moving average price is $27.74. The company has a quick ratio of 0.58, a current ratio of 0.62 and a debt-to-equity ratio of 5.03. The firm has a market capitalization of $3.49 billion, a price-to-earnings ratio of 26.47 and a beta of 0.98. Cinemark has a 12-month low of $21.60 and a 12-month high of $34.73.

Cinemark (NYSE:CNK) last announced its quarterly earnings data on Friday, May 1st. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). Cinemark had a return on equity of 41.31% and a net margin of 5.31%.The firm had revenue of $643.10 million during the quarter, compared to the consensus estimate of $632.74 million. During the same quarter in the prior year, the business posted ($0.32) EPS. Cinemark’s revenue was up 18.9% compared to the same quarter last year. As a group, research analysts predict that Cinemark will post 2.18 earnings per share for the current year.

Institutional Trading of Cinemark

Institutional investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC raised its stake in Cinemark by 118.5% during the second quarter. EverSource Wealth Advisors LLC now owns 935 shares of the company’s stock worth $28,000 after acquiring an additional 507 shares in the last quarter. Leonteq Securities AG acquired a new stake in shares of Cinemark in the 4th quarter valued at $83,000. GAMMA Investing LLC boosted its stake in shares of Cinemark by 51.8% in the 4th quarter. GAMMA Investing LLC now owns 4,022 shares of the company’s stock valued at $93,000 after purchasing an additional 1,372 shares in the last quarter. Kestra Advisory Services LLC bought a new stake in shares of Cinemark in the 4th quarter worth about $102,000. Finally, Bayforest Capital Ltd bought a new stake in shares of Cinemark in the 4th quarter worth about $121,000.

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.