Cinemark Holdings Inc. (CNK) Forecasted to Earn FY2016 Earnings of $1.89 Per Share
Cinemark Holdings Inc. (NYSE:CNK) – Equities research analysts at B. Riley lifted their FY2016 earnings per share estimates for shares of Cinemark Holdings in a research report issued on Thursday. B. Riley analyst E. Wold now anticipates that the brokerage will post earnings per share of $1.89 for the year, up from their prior forecast of $1.79. B. Riley has a “Buy” rating and a $47.00 price objective on the stock. B. Riley also issued estimates for Cinemark Holdings’ FY2017 earnings at $2.22 EPS and FY2018 earnings at $2.48 EPS.
Several other research firms also recently weighed in on CNK. Wedbush reissued a “neutral” rating and set a $40.00 target price on shares of Cinemark Holdings in a research report on Thursday, September 22nd. Drexel Hamilton reissued a “buy” rating on shares of Cinemark Holdings in a research report on Thursday, July 7th. Loop Capital reissued a “buy” rating and set a $44.00 target price on shares of Cinemark Holdings in a research report on Tuesday, October 4th. Credit Suisse Group AG reissued a “neutral” rating and set a $33.00 target price on shares of Cinemark Holdings in a research report on Sunday, June 12th. Finally, JPMorgan Chase & Co. reissued a “buy” rating on shares of Cinemark Holdings in a research report on Sunday, July 10th. One 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’s stock. The stock has a consensus rating of “Hold” and an average price target of $40.46.
Cinemark Holdings (NYSE:CNK) opened at 39.56 on Monday. Cinemark Holdings has a 1-year low of $26.56 and a 1-year high of $39.88. The company’s 50-day moving average is $38.45 and its 200 day moving average is $36.51. The stock has a market capitalization of $4.57 billion, a PE ratio of 21.17 and a beta of 1.01.
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Cinemark Holdings (NYSE:CNK) last posted its earnings results on Tuesday, August 9th. The company reported $0.46 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by $0.05. The company had revenue of $744.40 million for the quarter, compared to analysts’ expectations of $746.05 million. Cinemark Holdings had a net margin of 7.58% and a return on equity of 19.68%. The business’s revenue was down 6.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.61 earnings per share.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 13th. Investors of record on Wednesday, August 31st were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 2.73%. The ex-dividend date was Monday, August 29th. Cinemark Holdings’s dividend payout ratio is currently 58.06%.
Institutional investors have recently bought and sold shares of the stock. State Street Corp boosted its position in Cinemark Holdings by 1.9% in the first quarter. State Street Corp now owns 2,872,665 shares of the company’s stock valued at $102,927,000 after buying an additional 52,616 shares in the last quarter. Wellington Management Group LLP boosted its position in Cinemark Holdings by 4.3% in the first quarter. Wellington Management Group LLP now owns 1,677,659 shares of the company’s stock worth $60,111,000 after buying an additional 68,571 shares in the last quarter. Hamlin Capital Management LLC boosted its position in Cinemark Holdings by 5.3% in the second quarter. Hamlin Capital Management LLC now owns 1,418,181 shares of the company’s stock worth $51,707,000 after buying an additional 71,337 shares in the last quarter. Squarepoint Ops LLC boosted its position in Cinemark Holdings by 231.2% in the first quarter. Squarepoint Ops LLC now owns 27,124 shares of the company’s stock worth $972,000 after buying an additional 18,935 shares in the last quarter. Finally, Teachers Advisors Inc. boosted its position in Cinemark Holdings by 0.4% in the first quarter. Teachers Advisors Inc. now owns 93,697 shares of the company’s stock worth $3,357,000 after buying an additional 404 shares in the last quarter. Hedge funds and other institutional investors own 88.53% of the company’s stock.
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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