Barrington Research Has Lowered Expectations for Cinemark (NYSE:CNK) Stock Price

Cinemark (NYSE:CNK) had its price objective decreased by equities researchers at Barrington Research from $36.00 to $32.00 in a report released on Monday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Barrington Research’s price target indicates a potential upside of 33.58% from the company’s current price.

Other research analysts have also issued reports about the stock. JPMorgan Chase & Co. dropped their price objective on shares of Cinemark from $37.00 to $31.00 and set an “overweight” rating on the stock in a research note on Thursday. Roth Mkm restated a “buy” rating and issued a $35.00 price target on shares of Cinemark in a research report on Wednesday, November 5th. Moffett Nathanson upgraded shares of Cinemark from a “neutral” rating to a “buy” rating and set a $30.00 price target on the stock in a research note on Tuesday, January 20th. B. Riley dropped their target price on shares of Cinemark from $35.00 to $29.00 and set a “neutral” rating for the company in a report on Thursday. Finally, Macquarie lowered their price target on shares of Cinemark from $36.00 to $34.00 and set an “outperform” rating for the company in a report on Thursday, January 15th. Ten equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Cinemark currently has an average rating of “Moderate Buy” and a consensus price target of $32.83.

Cinemark Stock Down 0.7%

Cinemark stock opened at $23.96 on Monday. The company has a market capitalization of $2.81 billion, a P/E ratio of 23.03, a PEG ratio of 2.41 and a beta of 1.10. The company has a debt-to-equity ratio of 5.01, a quick ratio of 0.72 and a current ratio of 0.76. Cinemark has a fifty-two week low of $21.60 and a fifty-two week high of $34.01. The stock has a 50-day simple moving average of $24.58 and a 200-day simple moving average of $26.39.

Cinemark (NYSE:CNK) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.04). The firm had revenue of $857.50 million during the quarter, compared to analysts’ expectations of $851.47 million. Cinemark had a net margin of 4.93% and a return on equity of 34.33%. Cinemark’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.19 EPS. Equities research analysts expect that Cinemark will post 1.93 earnings per share for the current year.

Insider Transactions at Cinemark

In other news, EVP Melissa Thomas sold 22,082 shares of the firm’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $24.81, for a total transaction of $547,854.42. Following the transaction, the executive vice president directly owned 167,360 shares of the company’s stock, valued at approximately $4,152,201.60. This trade represents a 11.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Cinemark

Several large investors have recently made changes to their positions in CNK. Amalgamated Bank boosted its holdings in Cinemark by 1.7% during the third quarter. Amalgamated Bank now owns 29,626 shares of the company’s stock worth $830,000 after buying an additional 488 shares in the last quarter. Smartleaf Asset Management LLC grew its position in Cinemark by 20.1% during the third quarter. Smartleaf Asset Management LLC now owns 3,027 shares of the company’s stock valued at $83,000 after purchasing an additional 506 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings 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 in the last quarter. QRG Capital Management Inc. raised its stake in shares of Cinemark by 3.2% during the 2nd quarter. QRG Capital Management Inc. now owns 16,894 shares of the company’s stock worth $510,000 after purchasing an additional 521 shares in the last quarter. Finally, Resona Asset Management Co. Ltd. lifted its stake in Cinemark by 7.2% in the second quarter. Resona Asset Management Co. Ltd. now owns 12,056 shares of the company’s stock valued at $364,000 after acquiring an additional 812 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.