Cinemark Holdings, Inc. (NYSE:CNK) Forecasted to Earn Q2 2024 Earnings of $0.21 Per Share

Cinemark Holdings, Inc. (NYSE:CNK) – Investment analysts at Roth Capital reduced their Q2 2024 EPS estimates for shares of Cinemark in a research report issued to clients and investors on Thursday, May 2nd. Roth Capital analyst E. Handler now anticipates that the company will post earnings of $0.21 per share for the quarter, down from their prior forecast of $0.26. The consensus estimate for Cinemark’s current full-year earnings is $0.86 per share. Roth Capital also issued estimates for Cinemark’s Q3 2024 earnings at $0.48 EPS, Q4 2024 earnings at $0.03 EPS, FY2025 earnings at $1.94 EPS and FY2026 earnings at $2.35 EPS.

Cinemark (NYSE:CNK) last announced its earnings results on Thursday, May 2nd. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.40. Cinemark had a return on equity of 69.48% and a net margin of 7.12%. The firm had revenue of $579.00 million for the quarter, compared to the consensus estimate of $561.91 million. During the same period in the previous year, the business earned ($0.03) EPS. The firm’s revenue for the quarter was down 5.2% on a year-over-year basis.

Several other analysts also recently weighed in on CNK. Barrington Research reissued an “outperform” rating and set a $24.00 target price on shares of Cinemark in a research report on Monday. Wedbush reiterated an “outperform” rating and set a $23.00 price target on shares of Cinemark in a research note on Thursday, April 25th. Wells Fargo & Company upgraded Cinemark from an “underweight” rating to an “overweight” rating and raised their price objective for the stock from $13.00 to $23.00 in a research note on Friday, April 5th. B. Riley upped their target price on Cinemark from $14.00 to $16.00 and gave the company a “neutral” rating in a research report on Friday, May 3rd. Finally, The Goldman Sachs Group reduced their price target on shares of Cinemark from $16.00 to $12.00 and set a “sell” rating for the company in a research report on Thursday, January 11th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $20.33.

Cinemark Price Performance

Shares of CNK stock opened at $17.38 on Monday. Cinemark has a fifty-two week low of $13.19 and a fifty-two week high of $20.40. The company has a debt-to-equity ratio of 7.42, a quick ratio of 1.45 and a current ratio of 1.48. The firm has a market capitalization of $2.13 billion, a price-to-earnings ratio of 11.99, a PEG ratio of 2.06 and a beta of 2.25. The stock’s 50-day simple moving average is $17.94 and its 200-day simple moving average is $15.86.

Insider Buying and Selling

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

Institutional Trading of Cinemark

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in Cinemark by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 13,844,490 shares of the company’s stock valued at $254,046,000 after acquiring an additional 214,102 shares during the period. Wellington Management Group LLP grew its position in shares of Cinemark by 1.7% in the third quarter. Wellington Management Group LLP now owns 13,550,176 shares of the company’s stock valued at $248,646,000 after purchasing an additional 232,619 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Cinemark by 9.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,568,871 shares of the company’s stock valued at $36,195,000 after purchasing an additional 213,593 shares during the period. Hennessy Advisors Inc. increased its stake in shares of Cinemark by 14.1% during the first quarter. Hennessy Advisors Inc. now owns 1,295,800 shares of the company’s stock worth $23,286,000 after purchasing an additional 160,200 shares in the last quarter. Finally, Park West Asset Management LLC raised its position in shares of Cinemark by 34.3% during the 4th quarter. Park West Asset Management LLC now owns 1,175,000 shares of the company’s stock worth $16,556,000 after purchasing an additional 300,000 shares during the last quarter.

Cinemark Company Profile

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.