Cinemark Holdings Inc. to Post Q3 2016 Earnings of $0.54 Per Share, Wedbush Forecasts (CNK)
Cinemark Holdings Inc. (NYSE:CNK) – Wedbush lifted their Q3 2016 earnings per share (EPS) estimates for shares of Cinemark Holdings in a note issued to investors on Wednesday. Wedbush analyst M. Pachter now anticipates that the brokerage will post earnings of $0.54 per share for the quarter, up from their previous forecast of $0.52. Wedbush currently has a “Neutral” rating and a $40.00 target price on the stock.
Cinemark Holdings (NYSE:CNK) last announced its earnings results on Tuesday, August 9th. The company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by $0.05. The company had revenue of $744.40 million for the quarter, compared to the consensus estimate of $746.05 million. Cinemark Holdings had a net margin of 7.58% and a return on equity of 19.68%. The company’s revenue for the quarter was down 6.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.61 EPS.
A number of other research firms also recently issued reports on CNK. Drexel Hamilton downgraded shares of Cinemark Holdings from a “buy” rating to a “hold” rating and set a $42.00 price target on the stock. in a research note on Wednesday, August 10th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Cinemark Holdings in a research note on Sunday, July 10th. Wunderlich upped their price target on shares of Cinemark Holdings from $40.00 to $47.00 and gave the company a “buy” rating in a research note on Friday, August 12th. Stifel Nicolaus reaffirmed a “buy” rating on shares of Cinemark Holdings in a research note on Friday, June 10th. Finally, Loop Capital began coverage on shares of Cinemark Holdings in a research note on Tuesday, August 23rd. They set a “buy” rating and a $44.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company. Cinemark Holdings presently has a consensus rating of “Hold” and a consensus target price of $40.46.
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Shares of Cinemark Holdings (NYSE:CNK) traded up 0.512% during midday trading on Thursday, hitting $38.295. 198,265 shares of the stock were exchanged. The stock has a market cap of $4.43 billion, a P/E ratio of 20.490 and a beta of 1.04. Cinemark Holdings has a 12 month low of $26.56 and a 12 month high of $39.45. The firm has a 50 day moving average of $38.16 and a 200-day moving average of $36.19.
Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Cinemark Holdings by 4.8% in the second quarter. Vanguard Group Inc. now owns 7,699,930 shares of the company’s stock valued at $280,740,000 after buying an additional 352,241 shares during the last quarter. BlackRock Fund Advisors boosted its position in shares of Cinemark Holdings by 4.9% in the second quarter. BlackRock Fund Advisors now owns 6,427,631 shares of the company’s stock valued at $234,351,000 after buying an additional 300,963 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Cinemark Holdings by 6.4% in the second quarter. JPMorgan Chase & Co. now owns 4,605,615 shares of the company’s stock valued at $167,921,000 after buying an additional 276,705 shares during the last quarter. FMR LLC boosted its position in shares of Cinemark Holdings by 1.7% in the second quarter. FMR LLC now owns 4,287,922 shares of the company’s stock valued at $156,338,000 after buying an additional 70,300 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its position in shares of Cinemark Holdings by 2.0% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 3,330,309 shares of the company’s stock valued at $121,423,000 after buying an additional 64,007 shares during the last quarter. Institutional investors own 88.52% of the company’s stock.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 13th. Shareholders of record on Wednesday, August 31st were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 2.83%. The ex-dividend date was Monday, August 29th. Cinemark Holdings’s payout ratio is 58.06%.
About Cinemark Holdings
Cinemark Holdings, Inc (Cinemark) is engaged in the motion picture exhibition business with theatres in the United States, Brazil, Mexico, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Curacao and Bolivia. The Company manages its business in two segments: United States markets and international markets.
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