Cinemark Holdings, Inc. (NYSE:CNK) Expected to Earn Q2 2024 Earnings of $0.44 Per Share

Cinemark Holdings, Inc. (NYSE:CNK) – Analysts at Wedbush boosted their Q2 2024 EPS estimates for Cinemark in a report released on Thursday, April 18th. Wedbush analyst A. Reese now expects that the company will post earnings of $0.44 per share for the quarter, up from their previous estimate of $0.43. Wedbush has a “Outperform” rating and a $23.00 price objective on the stock. The consensus estimate for Cinemark’s current full-year earnings is $0.83 per share. Wedbush also issued estimates for Cinemark’s Q4 2024 earnings at $0.47 EPS, FY2024 earnings at $1.27 EPS and Q2 2025 earnings at $0.62 EPS.

CNK has been the subject of a number of other research reports. The Goldman Sachs Group decreased their price objective on shares of Cinemark from $16.00 to $12.00 and set a “sell” rating for the company in a research note on Thursday, January 11th. Wells Fargo & Company raised shares of Cinemark from an “underweight” rating to an “overweight” rating and increased their price target for the stock from $13.00 to $23.00 in a research report on Friday, April 5th. JPMorgan Chase & Co. upped their price objective on shares of Cinemark from $17.00 to $19.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Roth Mkm boosted their price target on shares of Cinemark from $17.00 to $19.00 and gave the company a “neutral” rating in a report on Wednesday, April 10th. Finally, Benchmark reaffirmed a “buy” rating and issued a $22.00 price target on shares of Cinemark in a research note on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $19.89.

Cinemark Trading Up 0.6 %

Shares of CNK opened at $18.22 on Friday. The company has a current ratio of 1.45, a quick ratio of 1.42 and a debt-to-equity ratio of 7.73. Cinemark has a 1-year low of $13.19 and a 1-year high of $20.40. The stock has a market capitalization of $2.22 billion, a P/E ratio of 14.81, a P/E/G ratio of 2.18 and a beta of 2.27. The business’s 50-day moving average price is $17.61 and its 200 day moving average price is $15.90.

Cinemark (NYSE:CNK) last issued its earnings results on Friday, February 16th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.08). Cinemark had a return on equity of 72.91% and a net margin of 6.14%. The company had revenue of $638.90 million during the quarter, compared to analyst estimates of $619.67 million. During the same quarter in the previous year, the firm earned ($0.82) earnings per share. The business’s revenue was up 6.5% compared to the same quarter last year.

Hedge Funds Weigh In On Cinemark

A number of institutional investors have recently modified their holdings of the company. Ameritas Investment Partners Inc. boosted its holdings in shares of Cinemark by 7.2% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 9,082 shares of the company’s stock worth $150,000 after buying an additional 607 shares during the period. NBC Securities Inc. grew its position in shares of Cinemark by 17.2% in the fourth quarter. NBC Securities Inc. now owns 4,764 shares of the company’s stock valued at $67,000 after purchasing an additional 700 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Cinemark by 38.8% in the first quarter. Tower Research Capital LLC TRC now owns 2,680 shares of the company’s stock worth $39,000 after purchasing an additional 749 shares during the period. PNC Financial Services Group Inc. lifted its position in shares of Cinemark by 14.3% during the 2nd quarter. PNC Financial Services Group Inc. now owns 6,467 shares of the company’s stock worth $107,000 after purchasing an additional 808 shares during the last quarter. Finally, Watershed Asset Management L.L.C. boosted its stake in Cinemark by 6.2% during the 4th quarter. Watershed Asset Management L.L.C. now owns 15,658 shares of the company’s stock valued at $221,000 after purchasing an additional 915 shares during the period.

Insiders Place Their Bets

In other Cinemark news, insider Wanda Marie Gierhart sold 19,593 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $16.75, for a total transaction of $328,182.75. Following the transaction, the insider now directly owns 179,591 shares in the company, valued at $3,008,149.25. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 2.30% of the company’s stock.

About Cinemark

Cinemark Holdings, Inc, together with its subsidiaries, engages in the motion picture exhibition business. As of February 16, 2024, it operated 501 theatres with 5,719 screens in 42 states and 13 countries in South and Central America. Cinemark Holdings, Inc was founded in 1984 and is headquartered in Plano, Texas.