Q1 2024 EPS Estimates for Cinemark Holdings, Inc. Increased by Analyst (NYSE:CNK)

Cinemark Holdings, Inc. (NYSE:CNK) – Equities research analysts at Roth Capital increased their Q1 2024 earnings per share estimates for shares of Cinemark in a note issued to investors on Wednesday, April 10th. Roth Capital analyst E. Handler now expects that the company will earn ($0.18) per share for the quarter, up from their prior estimate of ($0.28). The consensus estimate for Cinemark’s current full-year earnings is $0.82 per share. Roth Capital also issued estimates for Cinemark’s Q2 2024 earnings at $0.26 EPS, Q3 2024 earnings at $0.51 EPS, FY2024 earnings at $0.67 EPS, FY2025 earnings at $1.96 EPS and FY2026 earnings at $2.38 EPS.

Cinemark (NYSE:CNK) last issued its earnings results on Friday, February 16th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.08). The business had revenue of $638.90 million for the quarter, compared to analysts’ expectations of $619.67 million. Cinemark had a return on equity of 72.91% and a net margin of 6.14%. The business’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period last year, the company posted ($0.82) earnings per share.

A number of other equities analysts also recently issued reports on the company. Benchmark reissued a “buy” rating and set a $22.00 target price on shares of Cinemark in a research note on Wednesday. JPMorgan Chase & Co. increased their target price on Cinemark from $17.00 to $19.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Wells Fargo & Company upgraded Cinemark from an “underweight” rating to an “overweight” rating and upped their price target for the stock from $13.00 to $23.00 in a report on Friday, April 5th. B. Riley cut Cinemark from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $23.00 to $15.00 in a report on Tuesday, January 2nd. Finally, Roth Mkm upped their price target on Cinemark from $17.00 to $19.00 and gave the stock a “neutral” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $19.56.

Cinemark Stock Performance

Shares of CNK stock opened at $17.79 on Friday. The company has a market cap of $2.16 billion, a price-to-earnings ratio of 14.43, a price-to-earnings-growth ratio of 2.26 and a beta of 2.27. The stock has a 50 day simple moving average of $17.18 and a 200-day simple moving average of $15.91. Cinemark has a 12-month low of $13.19 and a 12-month high of $20.40. The company has a current ratio of 1.45, a quick ratio of 1.42 and a debt-to-equity ratio of 7.73.

Institutional Investors Weigh In On Cinemark

A number of large investors have recently bought and sold shares of CNK. Royal London Asset Management Ltd. acquired a new stake in Cinemark during the 4th quarter valued at $19,906,000. Hennessy Advisors Inc. acquired a new stake in Cinemark during the 4th quarter valued at $16,001,000. Norges Bank acquired a new stake in Cinemark during the 4th quarter valued at $8,659,000. Renaissance Technologies LLC boosted its holdings in shares of Cinemark by 241.0% during the first quarter. Renaissance Technologies LLC now owns 1,334,400 shares of the company’s stock worth $23,058,000 after purchasing an additional 943,100 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Cinemark by 85.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,714,344 shares of the company’s stock worth $29,624,000 after purchasing an additional 789,200 shares during the last quarter.

Insider Buying and Selling at Cinemark

In other Cinemark news, insider Wanda Marie Gierhart sold 19,593 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $16.75, for a total transaction of $328,182.75. Following the sale, the insider now owns 179,591 shares in the company, valued at approximately $3,008,149.25. The sale was disclosed in a legal filing with the SEC, which is available through this link. 10.00% of the stock is owned by insiders.

About Cinemark

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.