Cinemark (NYSE:CNK) Rating Lowered to “Neutral” at JPMorgan Chase & Co.

Cinemark (NYSE:CNK) was downgraded by research analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research report issued to clients and investors on Friday, MarketBeat.com reports. They currently have a $39.00 price objective on the stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 3.49% from the stock’s current price.

Several other analysts have also commented on the company. Benchmark lifted their price objective on Cinemark from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Roth Capital set a $40.00 target price on Cinemark in a research report on Thursday, July 30th. Wedbush raised their target price on Cinemark from $40.00 to $43.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $40.00 price target on shares of Cinemark in a research note on Friday, July 31st. Finally, Zacks Research raised shares of Cinemark from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $37.93.

Cinemark Trading Up 1.0%

Shares of CNK stock opened at $37.69 on Friday. The company has a current ratio of 0.84, a quick ratio of 0.81 and a debt-to-equity ratio of 3.87. Cinemark has a 12-month low of $21.60 and a 12-month high of $38.98. The stock has a market capitalization of $4.37 billion, a P/E ratio of 22.30 and a beta of 1.00. The firm’s 50 day moving average is $33.17 and its 200 day moving average is $29.40.

Cinemark (NYSE:CNK) last announced its earnings results 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. The business had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.03 billion. Cinemark had a net margin of 6.44% and a return on equity of 50.94%. The company’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.63 EPS. Research analysts expect that Cinemark will post 2.34 earnings per share for the current year.

Hedge Funds Weigh In On Cinemark

Hedge funds have recently modified their holdings of the company. EverSource Wealth Advisors LLC increased its stake in shares of Cinemark by 118.5% in the second quarter. EverSource Wealth Advisors LLC now owns 935 shares of the company’s stock worth $28,000 after purchasing an additional 507 shares in the last quarter. Leonteq Securities AG purchased a new position in shares of Cinemark during the 4th quarter valued at $83,000. KBC Group NV lifted its stake in shares of Cinemark by 56.9% during the 1st quarter. KBC Group NV now owns 4,334 shares of the company’s stock valued at $124,000 after buying an additional 1,572 shares in the last quarter. Kestra Advisory Services LLC bought a new position in Cinemark in the 4th quarter worth $102,000. Finally, GAMMA Investing LLC boosted its holdings in Cinemark by 10.2% in the 2nd quarter. GAMMA Investing LLC now owns 4,982 shares of the company’s stock worth $158,000 after buying an additional 462 shares during the period.

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.