Cinemark Holdings, Inc. (NYSE:CNK) Expected to Post Q2 2024 Earnings of ($0.10) Per Share

Cinemark Holdings, Inc. (NYSE:CNKFree Report) – Analysts at Roth Capital decreased their Q2 2024 EPS estimates for Cinemark in a research note issued on Wednesday, June 5th. Roth Capital analyst E. Handler now expects that the company will post earnings per share of ($0.10) for the quarter, down from their prior estimate of $0.21. The consensus estimate for Cinemark’s current full-year earnings is $1.10 per share. Roth Capital also issued estimates for Cinemark’s Q4 2024 earnings at $0.39 EPS and FY2025 earnings at $1.63 EPS.

CNK has been the subject of several other reports. Benchmark reissued a “buy” rating and issued a $23.00 price objective on shares of Cinemark in a research note on Friday, May 3rd. JPMorgan Chase & Co. raised their price objective on Cinemark from $17.00 to $19.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Wedbush reiterated an “outperform” rating and issued a $23.00 target price on shares of Cinemark in a research note on Thursday, April 25th. Wells Fargo & Company raised shares of 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. Finally, Roth Mkm upped their price objective on shares of Cinemark from $17.00 to $19.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 10th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $20.33.

Read Our Latest Stock Analysis on Cinemark

Cinemark Trading Up 2.5 %

CNK opened at $16.89 on Friday. Cinemark has a fifty-two week low of $13.19 and a fifty-two week high of $20.40. The firm has a market capitalization of $2.07 billion, a PE ratio of 11.64, a P/E/G ratio of 1.52 and a beta of 2.27. The company has a debt-to-equity ratio of 7.42, a current ratio of 1.48 and a quick ratio of 1.45. The company’s 50-day moving average is $17.80 and its 200 day moving average is $16.18.

Cinemark (NYSE:CNKGet Free Report) last issued its earnings results on Thursday, May 2nd. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $561.91 million. During the same period last year, the business earned ($0.03) EPS. Cinemark’s quarterly revenue was down 5.2% compared to the same quarter last year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. lifted its stake in Cinemark by 30.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 288,058 shares of the company’s stock valued at $4,059,000 after purchasing an additional 67,851 shares during the last quarter. Federated Hermes Inc. increased its holdings in Cinemark by 17.0% in the 4th quarter. Federated Hermes Inc. now owns 696,859 shares of the company’s stock worth $9,819,000 after acquiring an additional 101,272 shares during the last quarter. Louisiana State Employees Retirement System bought a new stake in Cinemark in the 4th quarter valued at about $748,000. Schonfeld Strategic Advisors LLC lifted its holdings in Cinemark by 276.6% during the third quarter. Schonfeld Strategic Advisors LLC now owns 189,074 shares of the company’s stock valued at $3,470,000 after purchasing an additional 138,874 shares during the last quarter. Finally, Kodai Capital Management LP bought a new position in Cinemark during the fourth quarter worth about $3,994,000.

About Cinemark

(Get Free Report)

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.

Further Reading

Earnings History and Estimates for Cinemark (NYSE:CNK)

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