Cinemark Holdings, Inc. (NYSE:CNK) – Research analysts at B. Riley upped their Q3 2019 earnings per share estimates for Cinemark in a research report issued to clients and investors on Tuesday, July 16th. B. Riley analyst E. Wold now anticipates that the company will post earnings per share of $0.51 for the quarter, up from their previous forecast of $0.48. B. Riley also issued estimates for Cinemark’s Q3 2020 earnings at $0.55 EPS.
Cinemark (NYSE:CNK) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.04. Cinemark had a net margin of 5.85% and a return on equity of 12.61%. The firm had revenue of $714.70 million during the quarter, compared to analysts’ expectations of $688.51 million. During the same period in the prior year, the company earned $0.53 EPS. The firm’s revenue was down 8.4% on a year-over-year basis.
Shares of Cinemark stock opened at $36.47 on Wednesday. The business’s fifty day simple moving average is $37.39. The company has a current ratio of 0.83, a quick ratio of 0.80 and a debt-to-equity ratio of 2.18. Cinemark has a twelve month low of $34.03 and a twelve month high of $43.51. The stock has a market cap of $4.48 billion, a PE ratio of 19.93, a price-to-earnings-growth ratio of 1.10 and a beta of 0.73.
A number of large investors have recently bought and sold shares of CNK. Norges Bank purchased a new position in Cinemark in the 4th quarter valued at about $36,407,000. Clark Capital Management Group Inc. boosted its position in Cinemark by 162.8% in the 1st quarter. Clark Capital Management Group Inc. now owns 1,162,491 shares of the company’s stock valued at $46,488,000 after buying an additional 720,110 shares during the last quarter. DNB Asset Management AS purchased a new position in Cinemark in the 2nd quarter valued at about $25,830,000. Eagle Asset Management Inc. boosted its position in Cinemark by 21.7% in the 1st quarter. Eagle Asset Management Inc. now owns 3,185,009 shares of the company’s stock valued at $127,368,000 after buying an additional 566,923 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its position in shares of Cinemark by 34.6% during the first quarter. Wells Fargo & Company MN now owns 1,962,955 shares of the company’s stock worth $78,498,000 after purchasing an additional 504,333 shares during the last quarter. 98.67% of the stock is owned by institutional investors.
In other Cinemark news, insider Valmir Fernandes sold 4,033 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $43.00, for a total value of $173,419.00. Following the completion of the transaction, the insider now directly owns 114,961 shares of the company’s stock, valued at approximately $4,943,323. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 9.00% of the company’s stock.
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 24th. Shareholders of record on Monday, June 10th were given a $0.34 dividend. The ex-dividend date of this dividend was Friday, June 7th. This represents a $1.36 dividend on an annualized basis and a yield of 3.73%. Cinemark’s payout ratio is currently 74.32%.
Cinemark Holdings, Inc, together with its subsidiaries, engages in the motion picture exhibition business. As of December 31, 2018, it operated 341 theatres and 4,586 screens in 41 states of the United States; and 205 theatres and 1,462 screens in Brazil, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Bolivia, Curacao, and Paraguay.
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