Analysts Expect Cinemark Holdings Inc (CNK) to Post $0.44 EPS
Wall Street brokerages expect Cinemark Holdings Inc (NYSE:CNK) to post earnings per share of $0.44 for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Cinemark Holdings’ earnings. The highest EPS estimate is $0.50 and the lowest is $0.35. Cinemark Holdings reported earnings of $0.56 per share in the same quarter last year, which indicates a negative year-over-year growth rate of 21.4%. The firm is scheduled to announce its next quarterly earnings report on Tuesday, November 14th.
According to Zacks, analysts expect that Cinemark Holdings will report full year earnings of $2.15 per share for the current year, with EPS estimates ranging from $2.05 to $2.24. For the next year, analysts expect that the company will post earnings of $2.35 per share, with EPS estimates ranging from $2.23 to $2.50. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that follow Cinemark Holdings.
Cinemark Holdings (NYSE:CNK) last posted its quarterly earnings results on Friday, August 4th. The company reported $0.44 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.44. Cinemark Holdings had a net margin of 9.12% and a return on equity of 20.98%. The company had revenue of $751.20 million during the quarter, compared to analyst estimates of $751.72 million. During the same period in the prior year, the business posted $0.46 EPS. The firm’s revenue was up .9% compared to the same quarter last year.
A number of analysts recently issued reports on CNK shares. Credit Suisse Group downgraded Cinemark Holdings from a “neutral” rating to an “underperform” rating and lowered their price target for the stock from $38.00 to $34.00 in a research report on Thursday, June 22nd. Wedbush upgraded Cinemark Holdings from a “neutral” rating to an “outperform” rating and set a $44.00 price target for the company in a research report on Wednesday, July 26th. Morgan Stanley lowered their price target on Cinemark Holdings from $43.00 to $40.00 and set an “underweight” rating for the company in a research report on Thursday, July 6th. Moffett Nathanson downgraded Cinemark Holdings from a “neutral” rating to a “sell” rating and set a $33.00 price target for the company. in a research report on Monday, June 12th. Finally, Zacks Investment Research downgraded Cinemark Holdings from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $43.14.
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Several hedge funds have recently added to or reduced their stakes in CNK. Macquarie Group Ltd. raised 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 in the last quarter. Soros Fund Management LLC purchased a new position in shares of Cinemark Holdings during the first quarter valued at approximately $310,000. Mawer Investment Management Ltd. raised 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 in the last quarter. First Midwest Bank Trust Division raised 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 in the last quarter. Finally, Mason Street Advisors LLC raised its position in shares of Cinemark Holdings by 1.2% in the first quarter. Mason Street Advisors LLC now owns 49,958 shares of the company’s stock valued at $2,215,000 after buying an additional 606 shares in the last quarter. Institutional investors and hedge funds own 89.52% of the company’s stock.
Shares of Cinemark Holdings (NYSE CNK) opened at 34.52 on Monday. Cinemark Holdings has a 12-month low of $34.32 and a 12-month high of $44.84. The company’s 50-day moving average is $37.82 and its 200-day moving average is $40.98. The company has a market capitalization of $4.00 billion, a price-to-earnings ratio of 14.75 and a beta of 1.03.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 13th. Stockholders of record on Thursday, August 31st will be given a dividend of $0.29 per share. The ex-dividend date is Tuesday, August 29th. This represents a $1.16 annualized dividend and a dividend yield of 3.36%. Cinemark Holdings’s dividend payout ratio (DPR) is 49.57%.
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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