Cinemark Holdings, Inc. to Post Q2 2024 Earnings of $0.44 Per Share, Wedbush Forecasts (NYSE:CNK)

Cinemark Holdings, Inc. (NYSE:CNK) – Stock analysts at Wedbush upped their Q2 2024 earnings per share (EPS) estimates for Cinemark in a research report issued on Thursday, April 18th. Wedbush analyst A. Reese now forecasts that the company will earn $0.44 per share for the quarter, up from their previous forecast of $0.43. Wedbush has a “Outperform” rating and a $23.00 price objective on the stock. The consensus estimate for Cinemark’s current full-year earnings is $0.83 per share. Wedbush also issued estimates for Cinemark’s Q4 2024 earnings at $0.47 EPS, FY2024 earnings at $1.27 EPS and Q2 2025 earnings at $0.62 EPS.

Cinemark (NYSE:CNK) last released 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). Cinemark had a net margin of 6.14% and a return on equity of 72.91%. The business had revenue of $638.90 million during the quarter, compared to the consensus estimate of $619.67 million. During the same quarter in the prior year, the firm earned ($0.82) EPS. The business’s revenue was up 6.5% on a year-over-year basis.

Other equities analysts also recently issued research reports about the stock. The Goldman Sachs Group lowered their target price on shares of Cinemark from $16.00 to $12.00 and set a “sell” rating for the company in a research note on Thursday, January 11th. Wells Fargo & Company upgraded Cinemark from an “underweight” rating to an “overweight” rating and raised their target price for the company from $13.00 to $23.00 in a research note on Friday, April 5th. B. Riley downgraded Cinemark from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $23.00 to $15.00 in a research note on Tuesday, January 2nd. Roth Mkm raised their price objective 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. boosted their price objective on Cinemark from $17.00 to $19.00 and gave the company a “neutral” rating in a report on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Cinemark has a consensus rating of “Hold” and an average target price of $19.89.

Cinemark Stock Performance

Shares of Cinemark stock opened at $18.22 on Friday. The stock has a market cap of $2.22 billion, a price-to-earnings ratio of 14.81, a P/E/G ratio of 2.18 and a beta of 2.27. The company’s fifty day moving average is $17.61 and its 200 day moving average is $15.90. The company has a quick ratio of 1.42, a current ratio of 1.45 and a debt-to-equity ratio of 7.73. Cinemark has a twelve month low of $13.19 and a twelve month high of $20.40.

Insider Buying and Selling

In other Cinemark news, insider Wanda Marie Gierhart sold 19,593 shares of the firm’s 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 transaction, the insider now directly owns 179,591 shares in the company, valued at approximately $3,008,149.25. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Cinemark

Several institutional investors and hedge funds have recently added to or reduced their stakes in CNK. Hennessy Advisors Inc. grew its holdings in shares of Cinemark by 14.1% in the first quarter. Hennessy Advisors Inc. now owns 1,295,800 shares of the company’s stock valued at $23,286,000 after acquiring an additional 160,200 shares in the last quarter. Virtu Financial LLC purchased a new position in Cinemark in the fourth quarter worth $192,000. Price T Rowe Associates Inc. MD grew its stake in Cinemark by 6.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 67,972 shares of the company’s stock valued at $958,000 after purchasing an additional 4,291 shares during the period. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Cinemark during the 4th quarter valued at $230,000. Finally, Impala Asset Management LLC raised its stake in shares of Cinemark by 96.5% during the 4th quarter. Impala Asset Management LLC now owns 1,130,000 shares of the company’s stock worth $15,922,000 after purchasing an additional 555,000 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.