Cinemark (NYSE:CNK) Stock Rating Lowered by Wall Street Zen

Cinemark (NYSE:CNK) was downgraded by investment analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

A number of other brokerages have also recently issued reports on CNK. Weiss Ratings raised Cinemark from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, August 21st. Roth Capital set a $40.00 target price on shares of Cinemark in a report on Thursday, July 30th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $40.00 target price on shares of Cinemark in a research report on Friday, July 31st. B. Riley Financial lifted their price target on shares of Cinemark from $35.00 to $37.00 and gave the company a “neutral” rating in a report on Friday, July 31st. Finally, Wells Fargo & Company boosted their price target on shares of Cinemark from $31.00 to $34.00 and gave the company an “equal weight” rating in a research report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $37.93.

Cinemark Stock Performance

NYSE CNK opened at $36.04 on Friday. Cinemark has a twelve month low of $21.60 and a twelve month high of $38.98. The company has a quick ratio of 0.81, a current ratio of 0.84 and a debt-to-equity ratio of 3.87. The stock has a market cap of $4.18 billion, a P/E ratio of 21.33 and a beta of 1.00. The company’s 50-day simple moving average is $34.10 and its 200 day simple moving average is $30.38.

Cinemark (NYSE:CNK) last announced its quarterly earnings results on Thursday, July 30th. The company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.16. Cinemark had a net margin of 6.44% and a return on equity of 50.94%. The firm had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter last year, the company earned $0.63 earnings per share. The company’s revenue for the quarter was up 15.5% compared to the same quarter last year. As a group, research analysts forecast that Cinemark will post 2.36 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised its position in shares of 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 during the last quarter. Public Employees Retirement System of Ohio bought a new position in Cinemark in the second quarter valued at about $32,000. Leonteq Securities AG acquired a new stake in Cinemark in the fourth quarter worth about $83,000. Nykredit A S acquired a new stake in Cinemark in the second quarter worth about $135,000. Finally, KBC Group NV raised its holdings in Cinemark by 56.9% during the 1st quarter. KBC Group NV now owns 4,334 shares of the company’s stock worth $124,000 after purchasing an additional 1,572 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.