FY2017 Earnings Estimate for Cinemark Holdings, Inc. Issued By B. Riley (CNK)

Cinemark Holdings, Inc. (NYSE:CNK) – Analysts at B. Riley reduced their FY2017 earnings per share estimates for shares of Cinemark in a research report issued to clients and investors on Monday. B. Riley analyst E. Wold now expects that the company will earn $1.94 per share for the year, down from their prior estimate of $2.01. B. Riley currently has a “Buy” rating and a $42.50 price objective on the stock. B. Riley also issued estimates for Cinemark’s Q3 2018 earnings at $0.45 EPS, FY2018 earnings at $2.38 EPS, Q1 2019 earnings at $0.71 EPS, Q3 2019 earnings at $0.50 EPS and Q4 2019 earnings at $0.56 EPS.

Cinemark (NYSE:CNK) last issued its earnings results on Friday, November 3rd. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.02). Cinemark had a return on equity of 18.43% and a net margin of 8.36%. The company had revenue of $710.70 million during the quarter, compared to the consensus estimate of $702.60 million. During the same quarter in the prior year, the business earned $0.56 EPS. The firm’s revenue for the quarter was down 7.5% compared to the same quarter last year.

A number of other analysts also recently issued reports on the company. Royal Bank of Canada dropped their price target on Cinemark from $43.00 to $40.00 and set a “sector perform” rating for the company in a research report on Monday, September 25th. Credit Suisse Group dropped their price target on Cinemark from $34.00 to $30.00 and set an “underperform” rating for the company in a research report on Thursday, September 28th. Morgan Stanley upgraded Cinemark from an “underweight” rating to an “equal weight” rating and set a $38.00 price target for the company in a research report on Thursday, October 5th. Wedbush reiterated an “outperform” rating and set a $44.00 price target on shares of Cinemark in a research report on Thursday, October 5th. Finally, Zacks Investment Research downgraded Cinemark from a “hold” rating to a “sell” rating in a research report on Thursday, October 12th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $41.65.

Cinemark (NYSE:CNK) opened at $34.95 on Tuesday. Cinemark has a 12 month low of $32.03 and a 12 month high of $44.84. The company has a quick ratio of 1.46, a current ratio of 1.50 and a debt-to-equity ratio of 1.50. The company has a market capitalization of $4,056.54, a PE ratio of 16.56, a price-to-earnings-growth ratio of 1.02 and a beta of 1.18.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Cable Hill Partners LLC raised its holdings in shares of Cinemark by 3,300.0% during the 3rd quarter. Cable Hill Partners LLC now owns 2,958 shares of the company’s stock valued at $107,000 after buying an additional 2,871 shares in the last quarter. Ffcm LLC purchased a new position in shares of Cinemark during the 3rd quarter valued at about $125,000. Zions Bancorporation purchased a new position in shares of Cinemark during the 3rd quarter valued at about $125,000. Advisor Group Inc. raised its holdings in shares of Cinemark by 2.3% during the 2nd quarter. Advisor Group Inc. now owns 3,767 shares of the company’s stock valued at $145,000 after buying an additional 84 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new position in shares of Cinemark during the 2nd quarter valued at about $146,000. 94.74% of the stock is currently owned by institutional investors.

In related news, EVP Tom Owens sold 9,213 shares of the firm’s stock in a transaction dated Wednesday, December 20th. The stock was sold at an average price of $36.00, for a total transaction of $331,668.00. Following the transaction, the executive vice president now directly owns 42,722 shares of the company’s stock, valued at approximately $1,537,992. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Lee Roy Mitchell sold 174,607 shares of the firm’s stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $36.72, for a total value of $6,411,569.04. Following the transaction, the director now directly owns 5,528,843 shares in the company, valued at $203,019,114.96. The disclosure for this sale can be found here. In the last quarter, insiders have sold 483,820 shares of company stock valued at $17,672,093. Corporate insiders own 9.10% of the company’s stock.

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Cinemark Company Profile

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.

Earnings History and Estimates for Cinemark (NYSE:CNK)

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