Cinemark Holdings, Inc. Forecasted to Earn Q3 2024 Earnings of $0.21 Per Share (NYSE:CNK)

Cinemark Holdings, Inc. (NYSE:CNK) – Research analysts at B. Riley upped their Q3 2024 earnings per share (EPS) estimates for shares of Cinemark in a report released on Thursday, May 2nd. B. Riley analyst E. Wold now expects that the company will post earnings of $0.21 per share for the quarter, up from their previous estimate of $0.16. B. Riley has a “Neutral” rating and a $16.00 price objective 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 released its quarterly earnings data on Thursday, May 2nd. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.40. Cinemark had a return on equity of 69.48% and a net margin of 7.12%. The firm had revenue of $579.00 million during the quarter, compared to analysts’ expectations of $561.91 million. During the same quarter in the prior year, the business posted ($0.03) earnings per share. Cinemark’s revenue was down 5.2% compared to the same quarter last year.

Other equities research analysts have also issued research reports about the company. The Goldman Sachs Group decreased their price target on Cinemark from $16.00 to $12.00 and set a “sell” rating on the stock in a research note on Thursday, January 11th. JPMorgan Chase & Co. upped their target price on Cinemark from $17.00 to $19.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Wells Fargo & Company upgraded Cinemark from an “underweight” rating to an “overweight” rating and raised their price target for the company from $13.00 to $23.00 in a research report on Friday, April 5th. Wedbush reiterated an “outperform” rating and issued a $23.00 price objective on shares of Cinemark in a research report on Thursday, April 25th. Finally, Benchmark restated a “buy” rating and set a $23.00 target price on shares of Cinemark in a report on Friday. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $20.33.

Cinemark Stock Up 0.7 %

CNK stock opened at $17.72 on Monday. The company has a current ratio of 1.45, a quick ratio of 1.42 and a debt-to-equity ratio of 7.15. The company’s 50-day moving average price is $17.91 and its 200 day moving average price is $15.85. Cinemark has a 52 week low of $13.19 and a 52 week high of $20.40. The company has a market cap of $2.15 billion, a P/E ratio of 12.22, a P/E/G ratio of 2.09 and a beta of 2.25.

Institutional Trading of Cinemark

Several institutional investors have recently added to or reduced their stakes in the stock. Easterly Investment Partners LLC grew its holdings in Cinemark by 1.1% during the 1st quarter. Easterly Investment Partners LLC now owns 491,903 shares of the company’s stock worth $8,839,000 after acquiring an additional 5,236 shares in the last quarter. Commonwealth Equity Services LLC increased its holdings in Cinemark by 7.7% in the first quarter. Commonwealth Equity Services LLC now owns 369,205 shares of the company’s stock valued at $6,635,000 after buying an additional 26,335 shares during the last quarter. New York State Teachers Retirement System increased its holdings in Cinemark by 2.3% in the first quarter. New York State Teachers Retirement System now owns 111,815 shares of the company’s stock valued at $2,009,000 after buying an additional 2,464 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in Cinemark by 24.8% during the 1st quarter. Assenagon Asset Management S.A. now owns 359,434 shares of the company’s stock worth $6,459,000 after buying an additional 71,376 shares during the last quarter. Finally, Hennessy Advisors Inc. increased its holdings in shares of Cinemark by 14.1% in the 1st 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 during the last quarter.

Insider Transactions at Cinemark

In related news, insider Wanda Marie Gierhart sold 19,593 shares of Cinemark stock in a transaction on Wednesday, February 28th. The shares were 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 of the company’s stock, valued at approximately $3,008,149.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.30% of the company’s stock.

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.