Q3 2024 Earnings Forecast for Cinemark Holdings, Inc. Issued By Barrington Research (NYSE:CNK)

Cinemark Holdings, Inc. (NYSE:CNK) – Equities research analysts at Barrington Research increased their Q3 2024 earnings estimates for Cinemark in a report issued on Monday, May 6th. Barrington Research analyst J. Goss now anticipates that the company will earn $0.27 per share for the quarter, up from their prior estimate of $0.18. Barrington Research has a “Outperform” rating and a $24.00 price objective on the stock. The consensus estimate for Cinemark’s current full-year earnings is $0.86 per share. Barrington Research also issued estimates for Cinemark’s FY2024 earnings at $0.84 EPS, Q3 2025 earnings at $0.49 EPS, FY2025 earnings at $1.35 EPS, Q1 2026 earnings at $0.17 EPS and FY2026 earnings at $1.76 EPS.

Cinemark (NYSE:CNK) last released its earnings results on Thursday, May 2nd. The company reported $0.19 earnings per share for the quarter, beating 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 company had revenue of $579.00 million for the quarter, compared to the consensus estimate of $561.91 million. During the same period in the previous year, the business earned ($0.03) earnings per share. Cinemark’s quarterly revenue was down 5.2% compared to the same quarter last year.

A number of other brokerages also recently issued reports on CNK. Wells Fargo & Company upgraded shares of Cinemark from an “underweight” rating to an “overweight” rating and lifted their price target for the company from $13.00 to $23.00 in a report on Friday, April 5th. StockNews.com lowered Cinemark from a “hold” rating to a “sell” rating in a research note on Friday, May 3rd. Roth Mkm lifted their price objective on Cinemark from $17.00 to $19.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 10th. JPMorgan Chase & Co. increased their target price on Cinemark from $17.00 to $19.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Finally, Benchmark restated a “buy” rating and issued a $23.00 price target on shares of Cinemark in a research report on Friday, May 3rd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, Cinemark presently has a consensus rating of “Hold” and a consensus target price of $20.33.

Cinemark Stock Down 0.1 %

CNK stock opened at $17.37 on Wednesday. The company has a quick ratio of 1.45, a current ratio of 1.48 and a debt-to-equity ratio of 7.42. Cinemark has a twelve month low of $13.19 and a twelve month high of $20.40. The stock has a market cap of $2.13 billion, a P/E ratio of 11.98, a PEG ratio of 2.06 and a beta of 2.25. The business’s 50-day moving average price is $17.94 and its 200-day moving average price is $15.87.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CNK. NBC Securities Inc. increased its position in Cinemark by 17.2% during the 4th quarter. NBC Securities Inc. now owns 4,764 shares of the company’s stock valued at $67,000 after purchasing an additional 700 shares during the period. Virtu Financial LLC purchased a new position in Cinemark during the fourth quarter valued at approximately $192,000. DekaBank Deutsche Girozentrale bought a new position in Cinemark in the third quarter worth approximately $193,000. Mackenzie Financial Corp purchased a new stake in Cinemark during the fourth quarter worth $210,000. Finally, Watershed Asset Management L.L.C. boosted its position in Cinemark by 6.2% during the 4th quarter. Watershed Asset Management L.L.C. now owns 15,658 shares of the company’s stock valued at $221,000 after acquiring an additional 915 shares in the last quarter.

Insider Transactions at Cinemark

In other news, insider Wanda Marie Gierhart sold 19,593 shares of Cinemark 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 completion of the sale, the insider now directly owns 179,591 shares in the company, valued at $3,008,149.25. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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.