Q1 2023 EPS Estimates for Cinemark Holdings, Inc. Lifted by Barrington Research (NYSE:CNK)

Cinemark Holdings, Inc. (NYSE:CNK – Get Rating) – Analysts at Barrington Research raised their Q1 2023 earnings per share (EPS) estimates for shares of Cinemark in a research note issued on Tuesday, March 7th. Barrington Research analyst J. Goss now expects that the company will post earnings per share of ($0.19) for the quarter, up from their previous forecast of ($0.30). The consensus estimate for Cinemark’s current full-year earnings is $0.31 per share. Barrington Research also issued estimates for Cinemark’s Q3 2023 earnings at $0.20 EPS, Q4 2023 earnings at ($0.09) EPS, FY2023 earnings at $0.20 EPS, Q1 2024 earnings at $0.02 EPS, Q2 2024 earnings at $0.36 EPS, Q3 2024 earnings at $0.25 EPS, Q4 2024 earnings at $0.00 EPS, FY2024 earnings at $0.62 EPS and FY2025 earnings at $0.93 EPS.

Cinemark (NYSE:CNK – Get Rating) last announced its earnings results on Friday, February 24th. The company reported ($0.82) EPS for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.48). The company had revenue of $599.70 million during the quarter, compared to analysts’ expectations of $589.47 million. Cinemark had a negative return on equity of 84.89% and a negative net margin of 11.05%. Cinemark’s revenue for the quarter was down 10.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.05 EPS.

Several other research analysts have also issued reports on CNK. StockNews.com lowered Cinemark from a “hold” rating to a “sell” rating in a research report on Wednesday, January 25th. Roth Capital reiterated a “neutral” rating on shares of Cinemark in a research note on Monday, February 13th. JPMorgan Chase & Co. boosted their price target on Cinemark from $15.00 to $17.00 and gave the company an “overweight” rating in a research note on Monday, February 27th. Morgan Stanley restated an “overweight” rating and issued a $16.00 target price on shares of Cinemark in a research note on Tuesday, January 17th. Finally, B. Riley upped their target price on Cinemark from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Monday, February 27th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $15.63.

Cinemark Trading Up 0.2 %

CNK opened at $12.85 on Friday. The firm has a market cap of $1.55 billion, a price-to-earnings ratio of -5.71, a PEG ratio of 4.28 and a beta of 2.28. The company has a current ratio of 1.22, a quick ratio of 1.19 and a debt-to-equity ratio of 21.44. Cinemark has a 12 month low of $8.28 and a 12 month high of $19.76. The stock has a fifty day moving average price of $11.68 and a 200-day moving average price of $11.87.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Boston Partners boosted its position in Cinemark by 2.0% in the 3rd quarter. Boston Partners now owns 49,140 shares of the company’s stock valued at $595,000 after buying an additional 985 shares during the last quarter. Hedges Asset Management LLC raised its stake in Cinemark by 1.4% during the fourth quarter. Hedges Asset Management LLC now owns 72,500 shares of the company’s stock worth $628,000 after acquiring an additional 1,000 shares during the period. Advisor Group Holdings Inc. increased its stake in shares of Cinemark by 28.3% in the fourth quarter. Advisor Group Holdings Inc. now owns 5,194 shares of the company’s stock valued at $45,000 after purchasing an additional 1,147 shares during the period. Arizona State Retirement System boosted its holdings in shares of Cinemark by 3.9% in the fourth quarter. Arizona State Retirement System now owns 30,617 shares of the company’s stock valued at $265,000 after acquiring an additional 1,158 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its holdings in shares of Cinemark by 5.7% in the first quarter. NewEdge Advisors LLC now owns 23,870 shares of the company’s stock valued at $412,000 after acquiring an additional 1,290 shares in the last quarter. 98.99% of the stock is currently owned by hedge funds and other institutional investors.

About Cinemark

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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.