Cinemark Holdings Inc. (CNK) Forecasted to Earn FY2016 Earnings of $2.06 Per Share
Cinemark Holdings Inc. (NYSE:CNK) – Research analysts at FBR & Co cut their FY2016 earnings per share (EPS) estimates for Cinemark Holdings in a report released on Monday. FBR & Co analyst B. Crockett now expects that the firm will post earnings of $2.06 per share for the year, down from their prior estimate of $2.18. FBR & Co also issued estimates for Cinemark Holdings’ FY2017 earnings at $2.36 EPS, FY2018 earnings at $2.60 EPS, FY2019 earnings at $2.87 EPS and FY2020 earnings at $3.18 EPS.
Cinemark Holdings (NYSE:CNK) last released its quarterly earnings results on Tuesday, August 9th. The company reported $0.46 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by $0.05. The firm 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 quarterly revenue was down 6.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.61 earnings per share.
CNK has been the subject of a number of other reports. Wunderlich raised their target price on Cinemark Holdings from $40.00 to $47.00 and gave the stock a “buy” rating in a research note on Friday, August 12th. Wedbush reissued a “neutral” rating and set a $40.00 price objective on shares of Cinemark Holdings in a research report on Friday, July 15th. B. Riley raised Cinemark Holdings from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $41.75 to $47.00 in a research report on Thursday, August 4th. Loop Capital began coverage on Cinemark Holdings in a research report on Tuesday, August 23rd. They set a “buy” rating and a $44.00 price objective for the company. Finally, Drexel Hamilton downgraded Cinemark Holdings from a “buy” rating to a “hold” rating and set a $42.00 price objective for the company. in a research report on Wednesday, August 10th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company. Cinemark Holdings currently has an average rating of “Hold” and an average price target of $40.46.
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Cinemark Holdings (NYSE:CNK) traded down 0.48% during mid-day trading on Tuesday, hitting $39.56. 278,093 shares of the company’s stock traded hands. Cinemark Holdings has a one year low of $26.56 and a one year high of $40.19. The stock has a market cap of $4.57 billion, a PE ratio of 21.17 and a beta of 1.01. The firm’s 50-day moving average price is $38.50 and its 200-day moving average price is $36.55.
A number of large investors have recently bought and sold shares of the company. State Street Corp boosted its stake 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 during the last quarter. Wellington Management Group LLP boosted its stake 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 valued at $60,111,000 after buying an additional 68,571 shares during the last quarter. Hamlin Capital Management LLC boosted its stake 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 valued at $51,707,000 after buying an additional 71,337 shares during the last quarter. Squarepoint Ops LLC boosted its stake in Cinemark Holdings by 231.2% in the first quarter. Squarepoint Ops LLC now owns 27,124 shares of the company’s stock valued at $972,000 after buying an additional 18,935 shares during the last quarter. Finally, Teachers Advisors Inc. boosted its stake in Cinemark Holdings by 0.4% in the first quarter. Teachers Advisors Inc. now owns 93,697 shares of the company’s stock valued at $3,357,000 after buying an additional 404 shares during the last quarter. Hedge funds and other institutional investors own 88.53% of the company’s stock.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 13th. Stockholders of record on Wednesday, August 31st were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 2.72%. The ex-dividend date was Monday, August 29th. Cinemark Holdings’s payout ratio is presently 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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