Barrington Research Weighs in on Cinemark Holdings, Inc.’s Q3 2024 Earnings (NYSE:CNK)

Cinemark Holdings, Inc. (NYSE:CNK) – Barrington Research upped their Q3 2024 earnings per share (EPS) estimates for shares of Cinemark in a report issued on Monday, May 6th. Barrington Research analyst J. Goss now forecasts that the company will post earnings of $0.27 per share for the quarter, up from their prior estimate of $0.18. Barrington Research currently has a “Outperform” rating and a $24.00 price objective on the stock. The consensus estimate for Cinemark’s current full-year earnings is $0.86 per share. Barrington Research also issued estimates for Cinemark’s FY2024 earnings at $0.84 EPS, Q3 2025 earnings at $0.49 EPS, FY2025 earnings at $1.35 EPS, Q1 2026 earnings at $0.17 EPS and FY2026 earnings at $1.76 EPS.

Cinemark (NYSE:CNK) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.40. Cinemark had a net margin of 7.12% and a return on equity of 69.48%. The firm had revenue of $579.00 million during the quarter, compared to analyst estimates of $561.91 million. During the same quarter last year, the business earned ($0.03) EPS. The company’s revenue was down 5.2% compared to the same quarter last year.

Several other brokerages have also commented on CNK. The Goldman Sachs Group cut their target price on Cinemark from $16.00 to $12.00 and set a “sell” rating on the stock in a research report on Thursday, January 11th. Benchmark reissued a “buy” rating and set a $23.00 target price on shares of Cinemark in a research note on Friday, May 3rd. StockNews.com cut shares of Cinemark from a “hold” rating to a “sell” rating in a report on Friday, May 3rd. Roth Mkm raised their target price on Cinemark from $17.00 to $19.00 and gave the company a “neutral” rating in a research note on Wednesday, April 10th. Finally, JPMorgan Chase & Co. upped their price target on Cinemark from $17.00 to $19.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Cinemark currently has an average rating of “Hold” and a consensus price target of $20.33.

Cinemark Price Performance

CNK stock opened at $17.38 on Wednesday. The company has a quick ratio of 1.45, a current ratio of 1.48 and a debt-to-equity ratio of 7.42. The company’s fifty day simple moving average is $17.94 and its 200 day simple moving average is $15.86. Cinemark has a 12-month low of $13.19 and a 12-month high of $20.40. The firm has a market cap of $2.13 billion, a price-to-earnings ratio of 11.99, a PEG ratio of 2.06 and a beta of 2.25.

Insiders Place Their Bets

In other news, insider Wanda Marie Gierhart sold 19,593 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $16.75, for a total transaction of $328,182.75. Following the completion of the transaction, the insider now directly owns 179,591 shares of the company’s stock, valued at approximately $3,008,149.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CNK. NBC Securities Inc. lifted its holdings in Cinemark by 17.2% during the fourth quarter. NBC Securities Inc. now owns 4,764 shares of the company’s stock valued at $67,000 after purchasing an additional 700 shares during the last quarter. Watershed Asset Management L.L.C. grew its stake in Cinemark by 6.2% in the 4th quarter. Watershed Asset Management L.L.C. now owns 15,658 shares of the company’s stock valued at $221,000 after buying an additional 915 shares in the last quarter. Los Angeles Capital Management LLC raised its holdings in Cinemark by 1.7% during the 3rd quarter. Los Angeles Capital Management LLC now owns 58,368 shares of the company’s stock valued at $1,071,000 after acquiring an additional 967 shares during the period. First National Bank of Hutchinson lifted its position in shares of Cinemark by 1.4% during the third quarter. First National Bank of Hutchinson now owns 69,853 shares of the company’s stock worth $1,282,000 after acquiring an additional 989 shares in the last quarter. Finally, Natixis Advisors L.P. raised its stake in shares of Cinemark by 5.9% during the 3rd quarter. Natixis Advisors L.P. now owns 22,210 shares of the company’s stock valued at $408,000 after purchasing an additional 1,241 shares during the period.

Cinemark Company Profile

Cinemark Holdings, Inc, together with its subsidiaries, engages in the motion picture exhibition business. As of February 16, 2024, it operated 501 theatres with 5,719 screens in 42 states and 13 countries in South and Central America. Cinemark Holdings, Inc was founded in 1984 and is headquartered in Plano, Texas.