Cinemark Holdings Inc (CNK) to Post Q3 2017 Earnings of $0.30 Per Share, Wedbush Forecasts
Cinemark Holdings Inc (NYSE:CNK) – Equities research analysts at Wedbush decreased their Q3 2017 earnings estimates for shares of Cinemark Holdings in a research note issued on Monday. Wedbush analyst M. Pachter now expects that the company will earn $0.30 per share for the quarter, down from their prior estimate of $0.50. Wedbush has a “Outperform” rating and a $44.00 price target on the stock. Wedbush also issued estimates for Cinemark Holdings’ FY2017 earnings at $2.05 EPS, Q4 2018 earnings at $0.54 EPS and FY2018 earnings at $2.14 EPS.
CNK has been the topic of several other reports. BidaskClub upgraded shares of Cinemark Holdings from a “hold” rating to a “buy” rating in a research report on Tuesday, August 8th. B. Riley reiterated a “buyl” rating on shares of Cinemark Holdings in a research report on Sunday, August 13th. Piper Jaffray Companies reiterated a “buy” rating on shares of Cinemark Holdings in a research report on Sunday, September 17th. J P Morgan Chase & Co dropped their price target on shares of Cinemark Holdings from $47.00 to $42.00 in a research report on Tuesday, August 22nd. Finally, Royal Bank Of Canada set a $43.00 price target on shares of Cinemark Holdings and gave the stock a “hold” rating in a research report on Sunday, September 10th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $42.07.
Shares of Cinemark Holdings (NYSE CNK) opened at 35.91 on Thursday. Cinemark Holdings has a 52 week low of $32.03 and a 52 week high of $44.84. The firm has a market capitalization of $4.16 billion, a PE ratio of 15.35 and a beta of 1.10. The company has a 50-day moving average of $35.06 and a 200-day moving average of $38.90.
Cinemark Holdings (NYSE:CNK) last issued its quarterly earnings data on Friday, August 4th. The company reported $0.44 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.44. The firm 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 firm’s revenue was up .9% on a year-over-year basis. During the same period in the prior year, the company earned $0.46 EPS.
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 13th. Investors of record on Thursday, August 31st were paid a $0.29 dividend. The ex-dividend date was Tuesday, August 29th. This represents a $1.16 annualized dividend and a dividend yield of 3.23%. Cinemark Holdings’s payout ratio is 49.57%.
In other news, CEO Mark Zoradi purchased 5,000 shares of the stock in a transaction that occurred on Friday, September 8th. The stock was acquired at an average price of $32.19 per share, with a total value of $160,950.00. Following the purchase, the chief executive officer now owns 172,456 shares in the company, valued at approximately $5,551,358.64. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 9.20% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in CNK. Victory Capital Management Inc. boosted its position in Cinemark Holdings by 15.4% during the second quarter. Victory Capital Management Inc. now owns 187,598 shares of the company’s stock worth $7,288,000 after purchasing an additional 25,083 shares during the period. Macquarie Group Ltd. boosted its position in Cinemark Holdings by 3.0% during the first quarter. Macquarie Group Ltd. now owns 1,538,047 shares of the company’s stock worth $68,197,000 after purchasing an additional 44,210 shares during the period. Partners Value Investments LP boosted its position in Cinemark Holdings by 46.0% during the second quarter. Partners Value Investments LP now owns 73,000 shares of the company’s stock worth $2,836,000 after purchasing an additional 23,000 shares during the period. Soros Fund Management LLC bought a new stake in Cinemark Holdings during the first quarter worth approximately $310,000. Finally, Kayne Anderson Rudnick Investment Management LLC boosted its position in Cinemark Holdings by 1.4% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,304,557 shares of the company’s stock worth $89,532,000 after purchasing an additional 32,271 shares during the period. 90.13% of the stock is owned by institutional investors and hedge funds.
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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