Q3 2024 EPS Estimates for Cinemark Holdings, Inc. (NYSE:CNK) Lifted by Analyst

Cinemark Holdings, Inc. (NYSE:CNK) – Stock analysts at B. Riley raised their Q3 2024 earnings per share (EPS) estimates for Cinemark in a research report issued to clients and investors on Thursday, May 2nd. B. Riley analyst E. Wold now expects that the company will post earnings per share of $0.21 for the quarter, up from their previous forecast of $0.16. B. Riley currently has a “Neutral” rating and a $16.00 target price on the stock. The consensus estimate for Cinemark’s current full-year earnings is $0.86 per share. B. Riley also issued estimates for Cinemark’s Q4 2024 earnings at $0.30 EPS and Q4 2025 earnings at $0.50 EPS.

Cinemark (NYSE:CNK) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.40. The company had revenue of $579.00 million during the quarter, compared to analysts’ expectations of $561.91 million. Cinemark had a net margin of 7.12% and a return on equity of 69.48%. The firm’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same period in the prior year, the business posted ($0.03) earnings per share.

Other analysts have also recently issued research reports about the stock. Wells Fargo & Company raised shares of Cinemark from an “underweight” rating to an “overweight” rating and increased their price target for the company from $13.00 to $23.00 in a research note on Friday, April 5th. Wedbush restated an “outperform” rating and issued a $23.00 target price on shares of Cinemark in a research report on Thursday, April 25th. Roth Mkm increased their price target on Cinemark from $17.00 to $19.00 and gave the stock a “neutral” rating in a report on Wednesday, April 10th. Barrington Research reissued an “outperform” rating and set a $24.00 price objective on shares of Cinemark in a research report on Monday. Finally, The Goldman Sachs Group decreased their target price on shares of Cinemark from $16.00 to $12.00 and set a “sell” rating on the stock in a research report on Thursday, January 11th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Cinemark presently has a consensus rating of “Hold” and an average target price of $20.33.

Cinemark Stock Performance

Shares of Cinemark stock opened at $17.02 on Monday. The company has a debt-to-equity ratio of 7.42, a quick ratio of 1.45 and a current ratio of 1.48. The business’s 50 day moving average price is $17.93 and its 200 day moving average price is $15.85. The company has a market cap of $2.08 billion, a price-to-earnings ratio of 11.73, a PEG ratio of 2.06 and a beta of 2.25. Cinemark has a one year low of $13.19 and a one year high of $20.40.

Insider Activity at Cinemark

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

Hedge Funds Weigh In On Cinemark

A number of large investors have recently bought and sold shares of the business. NBC Securities Inc. lifted its holdings in Cinemark by 17.2% in the fourth quarter. NBC Securities Inc. now owns 4,764 shares of the company’s stock worth $67,000 after purchasing an additional 700 shares during the period. Virtu Financial LLC bought a new stake in shares of Cinemark during the 4th quarter worth about $192,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Cinemark in the 3rd quarter worth approximately $193,000. Mackenzie Financial Corp acquired a new stake in shares of Cinemark in the 4th quarter worth approximately $210,000. Finally, Watershed Asset Management L.L.C. boosted its holdings in shares of Cinemark by 6.2% in the fourth quarter. Watershed Asset Management L.L.C. now owns 15,658 shares of the company’s stock valued at $221,000 after acquiring an additional 915 shares in the last quarter.

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.