B. Riley Weighs in on Cinemark Holdings Inc.’s Q3 2016 Earnings (CNK)
Cinemark Holdings Inc. (NYSE:CNK) – Equities researchers at B. Riley raised their Q3 2016 earnings per share estimates for shares of Cinemark Holdings in a research report issued on Thursday. B. Riley analyst E. Wold now forecasts that the firm will post earnings of $0.52 per share for the quarter, up from their prior estimate of $0.41. B. Riley currently has a “Buy” rating and a $47.00 price target on the stock.
Several other research firms have also recently issued reports on CNK. Wedbush reaffirmed a “neutral” rating and issued a $40.00 price target on shares of Cinemark Holdings in a report on Thursday, September 22nd. Drexel Hamilton reaffirmed a “buy” rating on shares of Cinemark Holdings in a report on Thursday, July 7th. Loop Capital reaffirmed a “buy” rating and issued a $44.00 price target on shares of Cinemark Holdings in a report on Tuesday. Credit Suisse Group AG reaffirmed a “neutral” rating and issued a $33.00 price target on shares of Cinemark Holdings in a report on Sunday, June 12th. Finally, JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Cinemark Holdings in a report on Sunday, July 10th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $40.46.
Shares of Cinemark Holdings (NYSE:CNK) traded up 0.13% on Friday, reaching $39.68. The company had a trading volume of 269,755 shares. The company has a 50 day moving average price of $38.42 and a 200 day moving average price of $36.48. Cinemark Holdings has a 52-week low of $26.56 and a 52-week high of $39.88. The stock has a market capitalization of $4.59 billion, a PE ratio of 21.23 and a beta of 1.01.
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Cinemark Holdings (NYSE:CNK) last issued its earnings results on Tuesday, August 9th. The company reported $0.46 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.51 by $0.05. Cinemark Holdings had a net margin of 7.58% and a return on equity of 19.68%. The firm earned $744.40 million during the quarter, compared to analyst estimates of $746.05 million. During the same quarter in the previous year, the business posted $0.61 EPS. Cinemark Holdings’s revenue was down 6.9% compared to the same quarter last year.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Park National Corp OH increased its stake in shares of Cinemark Holdings by 37.8% in the third quarter. Park National Corp OH now owns 7,681 shares of the company’s stock valued at $294,000 after buying an additional 2,106 shares during the last quarter. Macquarie Group Ltd. increased its stake in shares of Cinemark Holdings by 31.7% in the second quarter. Macquarie Group Ltd. now owns 1,174,674 shares of the company’s stock valued at $42,829,000 after buying an additional 282,602 shares during the last quarter. Carnick & Kubik Group LLC bought a new stake in shares of Cinemark Holdings during the second quarter valued at approximately $664,000. Northwestern Mutual Investment Management Company LLC increased its stake in shares of Cinemark Holdings by 40.4% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 1,103,558 shares of the company’s stock valued at $40,236,000 after buying an additional 317,370 shares during the last quarter. Finally, Mason Street Advisors LLC bought a new stake in shares of Cinemark Holdings during the second quarter valued at approximately $1,758,000. 88.53% of the stock is owned by institutional investors.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 13th. Stockholders of record on Wednesday, August 31st were given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date of this dividend was Monday, August 29th. Cinemark Holdings’s dividend payout ratio (DPR) is presently 58.06%.
Cinemark Holdings Company Profile
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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