Cinemark (NYSE:CNK) Cut to Sell at Wall Street Zen

Wall Street Zen downgraded shares of Cinemark (NYSE:CNK) from a hold rating to a sell rating in a research report sent to investors on Saturday morning.

Several other equities analysts have also issued reports on the stock. Morgan Stanley reissued an “equal weight” rating and issued a $28.00 price target (down previously from $35.00) on shares of Cinemark in a report on Thursday, December 18th. B. Riley dropped their target price on shares of Cinemark from $35.00 to $29.00 and set a “neutral” rating on the stock in a report on Thursday, January 22nd. Zacks Research lowered shares of Cinemark from a “hold” rating to a “strong sell” rating in a research note on Friday, January 23rd. JPMorgan Chase & Co. lowered their price objective on shares of Cinemark from $37.00 to $31.00 and set an “overweight” rating for the company in a research report on Thursday, January 22nd. Finally, UBS Group raised shares of Cinemark to a “buy” rating in a research report on Tuesday, January 20th. Ten investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Cinemark presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.83.

Cinemark Trading Up 4.3%

Shares of NYSE CNK opened at $24.70 on Friday. Cinemark has a fifty-two week low of $21.60 and a fifty-two week high of $34.01. The firm has a market capitalization of $2.90 billion, a P/E ratio of 23.75, a P/E/G ratio of 2.34 and a beta of 1.13. The company has a debt-to-equity ratio of 5.01, a current ratio of 0.76 and a quick ratio of 0.72. The company’s 50 day simple moving average is $23.89 and its 200 day simple moving average is $26.12.

Cinemark (NYSE:CNK) last issued its earnings results on Wednesday, November 5th. The company reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.04). Cinemark had a return on equity of 34.33% and a net margin of 4.93%.The company had revenue of $857.50 million for the quarter, compared to the consensus estimate of $851.47 million. During the same quarter last year, the business posted $1.19 EPS. Cinemark’s quarterly revenue was down 7.0% on a year-over-year basis. On average, analysts predict that Cinemark will post 1.93 EPS for the current year.

Cinemark Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 12th. Investors of record on Friday, November 28th were issued a dividend of $0.09 per share. The ex-dividend date was Friday, November 28th. This is a positive change from Cinemark’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a yield of 1.5%. Cinemark’s dividend payout ratio is currently 34.62%.

Insiders Place Their Bets

In other Cinemark news, EVP Melissa Thomas sold 22,082 shares of Cinemark stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $24.81, for a total value of $547,854.42. Following the sale, the executive vice president directly owned 167,360 shares in the company, valued at approximately $4,152,201.60. The trade was a 11.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On Cinemark

Hedge funds have recently modified their holdings of the stock. Amalgamated Bank raised its stake in shares of Cinemark by 1.7% during the 3rd quarter. Amalgamated Bank now owns 29,626 shares of the company’s stock worth $830,000 after purchasing an additional 488 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in shares of Cinemark by 20.1% in the third quarter. Smartleaf Asset Management LLC now owns 3,027 shares of the company’s stock valued at $83,000 after buying an additional 506 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings 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 buying an additional 507 shares during the last quarter. QRG Capital Management Inc. raised its position in Cinemark by 3.2% during the second quarter. QRG Capital Management Inc. now owns 16,894 shares of the company’s stock worth $510,000 after acquiring an additional 521 shares in the last quarter. Finally, Resona Asset Management Co. Ltd. raised its position in Cinemark by 7.2% during the second quarter. Resona Asset Management Co. Ltd. now owns 12,056 shares of the company’s stock worth $364,000 after acquiring an additional 812 shares in the last quarter.

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.