Cinemark Holdings, Inc. (NYSE:CNK – Free Report) – Research analysts at Wedbush upped their Q3 2024 earnings per share (EPS) estimates for Cinemark in a research report issued on Tuesday, October 29th. Wedbush analyst A. Reese now forecasts that the company will post earnings per share of $0.58 for the quarter, up from their previous forecast of $0.48. Wedbush currently has a “Outperform” rating and a $32.00 price target on the stock. The consensus estimate for Cinemark’s current full-year earnings is $1.41 per share. Wedbush also issued estimates for Cinemark’s Q4 2024 earnings at $0.45 EPS, Q3 2025 earnings at $0.65 EPS and Q4 2025 earnings at $0.69 EPS.
Several other brokerages have also commented on CNK. Macquarie raised their price objective on Cinemark from $21.00 to $24.00 and gave the company an “outperform” rating in a research report on Tuesday, July 9th. Wells Fargo & Company raised their price objective on Cinemark from $28.00 to $31.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Roth Mkm lifted their price target on Cinemark from $30.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. JPMorgan Chase & Co. lifted their price target on Cinemark from $25.00 to $29.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Finally, Barrington Research lowered Cinemark from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 28th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $28.20.
Cinemark Stock Performance
Shares of Cinemark stock opened at $30.47 on Wednesday. The company has a current ratio of 1.29, a quick ratio of 1.26 and a debt-to-equity ratio of 6.23. The firm has a market capitalization of $3.73 billion, a P/E ratio of 20.46, a P/E/G ratio of 1.94 and a beta of 2.36. The business has a fifty day simple moving average of $28.09 and a two-hundred day simple moving average of $22.97. Cinemark has a 12 month low of $13.19 and a 12 month high of $30.69.
Cinemark (NYSE:CNK – Get Free Report) last posted its quarterly earnings data on Friday, August 2nd. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.25. The business had revenue of $734.20 million for the quarter, compared to analysts’ expectations of $691.74 million. Cinemark had a return on equity of 41.87% and a net margin of 5.05%. The business’s revenue was down 22.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.80 EPS.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in CNK. Third Point LLC bought a new position in shares of Cinemark during the 1st quarter valued at approximately $89,850,000. Steadfast Capital Management LP bought a new position in shares of Cinemark during the 1st quarter valued at approximately $29,323,000. Jericho Capital Asset Management L.P. bought a new position in shares of Cinemark during the 1st quarter valued at approximately $15,975,000. Nut Tree Capital Management LP bought a new position in shares of Cinemark during the 1st quarter valued at approximately $13,250,000. Finally, Assenagon Asset Management S.A. bought a new position in shares of Cinemark during the 3rd quarter valued at approximately $12,133,000.
Insider Buying and Selling at Cinemark
In other Cinemark news, insider Valmir Fernandes sold 25,000 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $27.19, for a total transaction of $679,750.00. Following the completion of the sale, the insider now directly owns 204,729 shares in the company, valued at $5,566,581.51. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 2.30% of the company’s stock.
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.
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