Analysts Set Expectations for Cinemark Holdings Inc’s Q4 2017 Earnings (CNK)
Cinemark Holdings Inc (NYSE:CNK) – Equities researchers at Wedbush raised their Q4 2017 EPS estimates for shares of Cinemark Holdings in a research report issued on Monday. Wedbush analyst M. Pachter now anticipates that the company will post earnings per share of $0.62 for the quarter, up from their prior forecast of $0.61. Wedbush currently has a “Outperform” rating and a $44.00 price objective on the stock. Wedbush also issued estimates for Cinemark Holdings’ Q1 2018 earnings at $0.60 EPS, Q2 2018 earnings at $0.57 EPS and Q3 2018 earnings at $0.44 EPS.
Cinemark Holdings (NYSE:CNK) last issued its quarterly earnings results on Friday, August 4th. The company reported $0.44 EPS for the quarter, meeting analysts’ consensus estimates of $0.44. The company had revenue of $751.20 million for the quarter, compared to analyst estimates of $751.72 million. Cinemark Holdings had a return on equity of 20.98% and a net margin of 9.12%. The company’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.46 earnings per share.
Several other analysts also recently commented on the company. Morgan Stanley upgraded Cinemark Holdings from an “underweight” rating to an “equal weight” rating and set a $38.00 target price for the company in a research note on Thursday, October 5th. Credit Suisse Group reduced their target price on Cinemark Holdings from $34.00 to $30.00 and set an “underperform” rating for the company in a research note on Thursday, September 28th. Royal Bank Of Canada reduced their target price on Cinemark Holdings from $43.00 to $40.00 and set a “sector perform” rating for the company in a research note on Monday, September 25th. MKM Partners restated a “buy” rating and issued a $46.00 target price on shares of Cinemark Holdings in a research note on Monday, September 18th. Finally, Piper Jaffray Companies restated a “buy” rating on shares of Cinemark Holdings in a research note on Sunday, September 17th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $42.07.
Shares of Cinemark Holdings (NYSE:CNK) opened at 36.00 on Wednesday. The stock has a 50 day moving average price of $35.01 and a 200-day moving average price of $38.93. The company has a market capitalization of $4.17 billion, a price-to-earnings ratio of 15.38 and a beta of 1.10. Cinemark Holdings has a one year low of $32.03 and a one year high of $44.84.
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 13th. Shareholders of record on Thursday, August 31st were paid a dividend of $0.29 per share. The ex-dividend date of this dividend was Tuesday, August 29th. This represents a $1.16 dividend on an annualized basis and a yield of 3.22%. Cinemark Holdings’s dividend payout ratio (DPR) is currently 49.57%.
In related news, CEO Mark Zoradi purchased 5,000 shares of the business’s stock in a transaction on Friday, September 8th. The stock was acquired at an average price of $32.19 per share, for a total transaction of $160,950.00. Following the purchase, the chief executive officer now owns 172,456 shares of the company’s stock, valued at $5,551,358.64. The transaction was disclosed in a filing with the SEC, which is available at this link. 9.10% of the stock is currently owned by insiders.
Several institutional investors have recently bought and sold shares of CNK. Advisor Group Inc. lifted its position in shares of Cinemark Holdings by 2.3% during the 2nd quarter. Advisor Group Inc. now owns 3,767 shares of the company’s stock worth $145,000 after buying an additional 84 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of Cinemark Holdings during the 2nd quarter worth approximately $146,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Cinemark Holdings by 9.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,792 shares of the company’s stock worth $147,000 after buying an additional 330 shares in the last quarter. Advisors Asset Management Inc. lifted its position in shares of Cinemark Holdings by 224.8% during the 2nd quarter. Advisors Asset Management Inc. now owns 4,752 shares of the company’s stock worth $185,000 after buying an additional 3,289 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. bought a new position in shares of Cinemark Holdings during the 1st quarter worth approximately $213,000. 90.13% of the stock is currently owned by hedge funds and other 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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