Cinemark (NYSE:CNK – Get Free Report) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Wednesday, Zacks reports.
Several other research firms have also issued reports on CNK. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $40.00 target price on shares of Cinemark in a research note on Friday, July 31st. Roth Capital set a $40.00 target price on Cinemark in a research report on Thursday, July 30th. Guggenheim set a $37.00 price target on shares of Cinemark in a research note on Thursday, July 2nd. Wedbush increased their price target on shares of Cinemark from $40.00 to $43.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Finally, Moffett Nathanson reissued a “buy” rating and issued a $40.00 price objective on shares of Cinemark in a research note on Thursday, July 30th. Nine research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, Cinemark currently has a consensus rating of “Moderate Buy” and an average price target of $37.93.
Read Our Latest Analysis on CNK
Cinemark Stock Down 0.6%
Cinemark (NYSE:CNK – Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The company reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.03 by $0.16. Cinemark had a return on equity of 50.94% and a net margin of 6.44%.The business had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the previous year, the firm posted $0.63 earnings per share. The company’s revenue was up 15.5% on a year-over-year basis. Research analysts anticipate that Cinemark will post 2.36 EPS for the current year.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Corient Private Wealth LP purchased a new stake in Cinemark during the 2nd quarter worth about $1,222,000. Amundi boosted its stake in shares of Cinemark by 66.2% in the 2nd quarter. Amundi now owns 30,265 shares of the company’s stock valued at $960,000 after buying an additional 12,053 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Cinemark in the 2nd quarter valued at about $698,000. California State Teachers Retirement System grew its position in shares of Cinemark by 3,026.1% during the second quarter. California State Teachers Retirement System now owns 3,803,380 shares of the company’s stock worth $119,867,000 after buying an additional 3,681,716 shares in the last quarter. Finally, Nykredit A S acquired a new position in shares of Cinemark during the second quarter worth about $135,000.
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.
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