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

Cinemark Holdings, Inc. (NYSE:CNK) – Analysts at B. Riley increased their Q3 2024 EPS estimates for Cinemark in a research report issued to clients and investors on Thursday, May 2nd. B. Riley analyst E. Wold now forecasts that the company will post earnings per share of $0.21 for the quarter, up from their prior 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 EPS for the quarter, beating 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 business had revenue of $579.00 million during the quarter, compared to the consensus estimate of $561.91 million. During the same quarter in the prior year, the company posted ($0.03) earnings per share. The firm’s revenue was down 5.2% on a year-over-year basis.

Other equities research analysts have also issued reports about the stock. Benchmark reiterated a “buy” rating and issued a $23.00 target price on shares of Cinemark in a report on Friday, May 3rd. JPMorgan Chase & Co. lifted their target price on Cinemark from $17.00 to $19.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Wells Fargo & Company upgraded Cinemark from an “underweight” rating to an “overweight” rating and increased their price target for the stock from $13.00 to $23.00 in a report on Friday, April 5th. Barrington Research reiterated an “outperform” rating and set a $24.00 price objective on shares of Cinemark in a report on Monday. Finally, StockNews.com cut Cinemark from a “hold” rating to a “sell” rating in a research note on Friday, May 3rd. Two 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 data from MarketBeat, Cinemark presently has an average rating of “Hold” and a consensus target price of $20.33.

Cinemark Stock Up 2.2 %

Cinemark stock opened at $17.38 on Monday. The firm has a market capitalization of $2.13 billion, a price-to-earnings ratio of 11.99, a PEG ratio of 2.06 and a beta of 2.25. The company’s 50 day simple moving average is $17.94 and its 200 day simple moving average is $15.86. The company has a debt-to-equity ratio of 7.42, a current ratio of 1.48 and a quick ratio of 1.45. Cinemark has a fifty-two week low of $13.19 and a fifty-two week high of $20.40.

Insider Buying and Selling at Cinemark

In other news, insider Wanda Marie Gierhart sold 19,593 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $16.75, for a total transaction of $328,182.75. Following the completion of the transaction, the insider now directly owns 179,591 shares in the company, valued at approximately $3,008,149.25. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On Cinemark

Institutional investors and hedge funds have recently made changes to their positions in the stock. Commonwealth Equity Services LLC lifted its stake in Cinemark by 4.5% in the 3rd quarter. Commonwealth Equity Services LLC now owns 320,879 shares of the company’s stock valued at $5,888,000 after purchasing an additional 13,720 shares during the last quarter. First National Bank of Hutchinson boosted its stake in shares of Cinemark by 1.4% during the 3rd quarter. First National Bank of Hutchinson now owns 69,853 shares of the company’s stock worth $1,282,000 after acquiring an additional 989 shares during the period. Mitchell Capital Management Co. boosted its stake in shares of Cinemark by 0.4% during the 3rd quarter. Mitchell Capital Management Co. now owns 387,784 shares of the company’s stock worth $7,116,000 after acquiring an additional 1,470 shares during the period. Capula Management Ltd increased its holdings in shares of Cinemark by 53.4% during the 3rd quarter. Capula Management Ltd now owns 57,040 shares of the company’s stock worth $1,047,000 after acquiring an additional 19,860 shares during the last quarter. Finally, NBC Securities Inc. bought a new stake in Cinemark in the 3rd quarter valued at $74,000.

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.