Brokerages Anticipate Cinemark Holdings Inc (CNK) to Announce $0.52 EPS
Brokerages expect that Cinemark Holdings Inc (NYSE:CNK) will report earnings of $0.52 per share for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Cinemark Holdings’ earnings, with estimates ranging from $0.45 to $0.61. Cinemark Holdings posted earnings of $0.46 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 13%. The firm is scheduled to issue its next quarterly earnings results on Tuesday, August 8th.
On average, analysts expect that Cinemark Holdings will report full year earnings of $2.24 per share for the current year, with EPS estimates ranging from $2.05 to $2.38. For the next year, analysts anticipate that the company will post earnings of $2.40 per share, with EPS estimates ranging from $2.23 to $2.47. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms that follow Cinemark Holdings.
Cinemark Holdings (NYSE:CNK) last issued its quarterly earnings data on Wednesday, May 3rd. The company reported $0.68 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.07. Cinemark Holdings had a net margin of 9.23% and a return on equity of 21.75%. The company had revenue of $779.60 million for the quarter, compared to analyst estimates of $750.75 million. During the same period last year, the company posted $0.50 earnings per share. Cinemark Holdings’s revenue was up 10.7% compared to the same quarter last year.
A number of brokerages have recently weighed in on CNK. ValuEngine upgraded shares of Cinemark Holdings from a “hold” rating to a “buy” rating in a report on Friday. Morgan Stanley reduced their price objective on shares of Cinemark Holdings from $43.00 to $40.00 and set an “underweight” rating on the stock in a report on Thursday, July 6th. Zacks Investment Research downgraded shares of Cinemark Holdings from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Wedbush increased their target price on shares of Cinemark Holdings from $43.00 to $45.00 and gave the company a “neutral” rating in a research report on Tuesday, July 4th. Finally, Credit Suisse Group downgraded shares of Cinemark Holdings from a “neutral” rating to an “underperform” rating and dropped their target price for the company from $38.00 to $34.00 in a research report on Thursday, June 22nd. Four analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company’s stock. Cinemark Holdings presently has an average rating of “Hold” and a consensus price target of $43.57.
Shares of Cinemark Holdings (NYSE CNK) traded up 1.58% during midday trading on Tuesday, hitting $37.84. 784,013 shares of the stock were exchanged. The company has a market cap of $4.38 billion, a PE ratio of 15.97 and a beta of 1.04. The stock has a 50 day moving average price of $40.16 and a 200-day moving average price of $41.49. Cinemark Holdings has a 12 month low of $35.09 and a 12 month high of $44.84.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 22nd. Shareholders of record on Thursday, June 8th were given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 3.11%. The ex-dividend date was Tuesday, June 6th. Cinemark Holdings’s payout ratio is currently 49.15%.
In other Cinemark Holdings news, insider Valmir Fernandes sold 6,000 shares of the firm’s stock in a transaction on Friday, May 12th. The shares were sold at an average price of $43.53, for a total transaction of $261,180.00. Following the transaction, the insider now directly owns 85,505 shares of the company’s stock, valued at approximately $3,722,032.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 9.10% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Macquarie Group Ltd. increased its position in shares of Cinemark Holdings by 3.0% in the first quarter. Macquarie Group Ltd. now owns 1,538,047 shares of the company’s stock valued at $68,197,000 after buying an additional 44,210 shares during the last quarter. Mawer Investment Management Ltd. increased its position in shares of Cinemark Holdings by 42.3% in the first quarter. Mawer Investment Management Ltd. now owns 3,256,308 shares of the company’s stock valued at $144,385,000 after buying an additional 967,579 shares during the last quarter. Russell Investments Group Ltd. acquired a new position in shares of Cinemark Holdings during the fourth quarter valued at about $522,000. Ladenburg Thalmann Financial Services Inc. increased its position in shares of Cinemark Holdings by 43.7% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,195 shares of the company’s stock valued at $123,000 after buying an additional 972 shares during the last quarter. Finally, First Midwest Bank Trust Division increased its position in shares of Cinemark Holdings by 19.8% in the first quarter. First Midwest Bank Trust Division now owns 8,957 shares of the company’s stock valued at $397,000 after buying an additional 1,480 shares during the last quarter. 89.35% of the stock is currently owned by institutional investors.
About Cinemark Holdings
Cinemark Holdings, Inc is engaged in the motion picture exhibition business with theatres in the United States (U.S.), Brazil, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Paraguay, Curacao and Bolivia. The Company manages its business in two segments: U.S.
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