Zacks: Analysts Expect Cinemark Holdings Inc (CNK) Will Post Earnings of $0.43 Per Share
Wall Street brokerages expect Cinemark Holdings Inc (NYSE:CNK) to announce earnings per share (EPS) of $0.43 for the current quarter, Zacks reports. Four analysts have provided estimates for Cinemark Holdings’ earnings, with the lowest EPS estimate coming in at $0.35 and the highest estimate coming in at $0.50. Cinemark Holdings posted earnings of $0.56 per share during the same quarter last year, which would indicate a negative year over year growth rate of 23.2%. The firm is expected to announce its next quarterly earnings results on Tuesday, November 14th.
On average, analysts expect that Cinemark Holdings will report full year earnings of $2.14 per share for the current financial year, with EPS estimates ranging from $2.05 to $2.24. For the next year, analysts forecast that the company will post earnings of $2.34 per share, with EPS estimates ranging from $2.23 to $2.50. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research firms that follow Cinemark Holdings.
Cinemark Holdings (NYSE:CNK) last released its quarterly earnings data on Friday, August 4th. The company reported $0.44 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.44. The company had revenue of $751.20 million for the quarter, compared to analysts’ expectations of $751.72 million. Cinemark Holdings had a net margin of 9.12% and a return on equity of 20.98%. The business’s revenue was up .9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.46 EPS.
A number of research firms have issued reports on CNK. Royal Bank Of Canada restated a “hold” rating and issued a $43.00 price objective on shares of Cinemark Holdings in a research report on Wednesday, August 9th. B. Riley reiterated a “buyl” rating on shares of Cinemark Holdings in a research report on Sunday, August 13th. BidaskClub cut shares of Cinemark Holdings from a “buy” rating to a “hold” rating in a research report on Friday, August 18th. Wedbush reiterated a “buy” rating on shares of Cinemark Holdings in a research report on Monday, August 7th. Finally, Barrington Research reduced their price target on shares of Cinemark Holdings from $49.00 to $46.00 and set an “outperform” rating on the stock in a research report on Monday, August 7th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. Cinemark Holdings presently has a consensus rating of “Hold” and an average price target of $43.06.
Cinemark Holdings (NYSE:CNK) traded up 0.56% during trading on Friday, hitting $32.47. 2,576,506 shares of the stock were exchanged. Cinemark Holdings has a 52 week low of $32.03 and a 52 week high of $44.84. The stock has a market cap of $3.76 billion, a P/E ratio of 13.88 and a beta of 1.06. The stock has a 50 day moving average of $36.18 and a 200-day moving average of $40.14.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 13th. Investors of record on Thursday, August 31st will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 3.57%. The ex-dividend date is Tuesday, August 29th. Cinemark Holdings’s payout ratio is currently 49.57%.
In other Cinemark Holdings news, CEO Mark Zoradi acquired 5,000 shares of the company’s stock in a transaction that occurred on Monday, August 28th. The shares were acquired at an average price of $32.83 per share, with a total value of $164,150.00. Following the completion of the purchase, the chief executive officer now directly owns 167,456 shares of the company’s stock, valued at approximately $5,497,580.48. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 9.20% of the company’s stock.
A number of large investors have recently bought and sold shares of the stock. FMR LLC boosted its stake in Cinemark Holdings by 17.5% during the second quarter. FMR LLC now owns 11,685,034 shares of the company’s stock worth $453,963,000 after acquiring an additional 1,742,861 shares in the last quarter. BlackRock Inc. boosted its stake in Cinemark Holdings by 13,956.8% during the first quarter. BlackRock Inc. now owns 11,065,807 shares of the company’s stock worth $490,657,000 after acquiring an additional 10,987,085 shares in the last quarter. Vanguard Group Inc. boosted its stake in Cinemark Holdings by 4.3% during the second quarter. Vanguard Group Inc. now owns 9,385,792 shares of the company’s stock worth $364,639,000 after acquiring an additional 382,700 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Cinemark Holdings by 2.7% during the second quarter. JPMorgan Chase & Co. now owns 6,095,192 shares of the company’s stock worth $236,798,000 after acquiring an additional 160,113 shares in the last quarter. Finally, Jennison Associates LLC boosted its stake in Cinemark Holdings by 32.9% during the second quarter. Jennison Associates LLC now owns 3,988,676 shares of the company’s stock worth $154,960,000 after acquiring an additional 988,361 shares in the last quarter. 90.16% of the stock is currently owned by institutional investors and hedge funds.
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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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