Cinemark Holdings, Inc. (NYSE:CNK) Expected to Post Quarterly Sales of $461.98 Million

Wall Street analysts expect Cinemark Holdings, Inc. (NYSE:CNK – Get Rating) to report $461.98 million in sales for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for Cinemark’s earnings. The lowest sales estimate is $417.97 million and the highest is $510.30 million. Cinemark reported sales of $114.36 million during the same quarter last year, which indicates a positive year-over-year growth rate of 304%. The firm is expected to issue its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Cinemark will report full year sales of $2.71 billion for the current year, with estimates ranging from $2.52 billion to $2.95 billion. For the next financial year, analysts anticipate that the company will report sales of $3.19 billion, with estimates ranging from $2.91 billion to $3.35 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Cinemark.

Cinemark (NYSE:CNK – Get Rating) last released its quarterly earnings results on Friday, February 25th. The company reported $0.05 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.14) by $0.19. The firm had revenue of $666.70 million during the quarter, compared to analyst estimates of $598.07 million. Cinemark had a negative net margin of 27.99% and a negative return on equity of 107.64%. The business’s revenue for the quarter was up 578.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($2.03) EPS.

Several research firms recently issued reports on CNK. Wells Fargo & Company reduced their target price on shares of Cinemark from $24.00 to $22.00 and set an “equal weight” rating for the company in a report on Monday, February 28th. StockNews.com began coverage on shares of Cinemark in a report on Thursday, March 31st. They issued a “hold” rating for the company. Barrington Research reduced their target price on shares of Cinemark from $26.00 to $22.00 in a report on Monday, March 7th. Zacks Investment Research raised shares of Cinemark from a “sell” rating to a “hold” rating in a report on Wednesday, February 23rd. Finally, The Goldman Sachs Group reduced their target price on shares of Cinemark from $15.40 to $13.60 and set a “sell” rating for the company in a report on Monday, March 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $23.45.

Cinemark stock traded down $0.39 during midday trading on Tuesday, hitting $17.02. The stock had a trading volume of 1,782,215 shares, compared to its average volume of 2,337,526. The firm’s fifty day moving average is $16.86 and its two-hundred day moving average is $17.59. The company has a market capitalization of $2.04 billion, a PE ratio of -4.81, a P/E/G ratio of 12.16 and a beta of 2.29. Cinemark has a 52-week low of $13.37 and a 52-week high of $25.20. The company has a current ratio of 1.14, a quick ratio of 1.12 and a debt-to-equity ratio of 7.71.

A number of institutional investors and hedge funds have recently made changes to their positions in CNK. Norges Bank bought a new position in shares of Cinemark during the 4th quarter valued at approximately $40,031,000. Invesco Ltd. boosted its position in shares of Cinemark by 1,283.7% during the 3rd quarter. Invesco Ltd. now owns 2,506,115 shares of the company’s stock valued at $48,143,000 after acquiring an additional 2,324,996 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd bought a new position in shares of Cinemark during the 3rd quarter valued at approximately $28,815,000. Cooper Creek Partners Management LLC bought a new position in shares of Cinemark during the 4th quarter valued at approximately $18,155,000. Finally, Marshall Wace LLP boosted its position in shares of Cinemark by 159.0% during the 4th quarter. Marshall Wace LLP now owns 1,523,738 shares of the company’s stock valued at $24,564,000 after acquiring an additional 935,441 shares during the last quarter. 91.25% of the stock is owned by institutional investors and hedge funds.

About Cinemark (Get Rating)

Cinemark Holdings, Inc is a holding company, which engages in the provision of motion picture exhibitions through its subsidiaries. It operates through the U.S. and International segments. The company was founded by Lee Roy Mitchell in 1984 and is headquartered in Plano, TX.

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