Cinemark Holdings, Inc. (NYSE:CNK) Forecasted to Earn Q2 2023 Earnings of $0.32 Per Share

Cinemark Holdings, Inc. (NYSE:CNKGet Rating) – Wedbush boosted their Q2 2023 earnings estimates for shares of Cinemark in a report released on Tuesday, August 2nd. Wedbush analyst M. Pachter now expects that the company will earn $0.32 per share for the quarter, up from their prior estimate of $0.31. Wedbush currently has a “Outperform” rating and a $22.00 target price on the stock. The consensus estimate for Cinemark’s current full-year earnings is ($0.41) per share. Wedbush also issued estimates for Cinemark’s Q3 2023 earnings at $0.28 EPS and FY2024 earnings at $1.51 EPS.

Several other research analysts have also commented on CNK. Benchmark set a $27.00 price objective on shares of Cinemark in a report on Tuesday, July 19th. Morgan Stanley upgraded shares of Cinemark from an “equal weight” rating to an “overweight” rating and set a $22.00 price target for the company in a research note on Tuesday, July 19th. StockNews.com lowered shares of Cinemark from a “hold” rating to a “sell” rating in a research note on Wednesday, May 4th. Finally, B. Riley decreased their price target on shares of Cinemark from $29.00 to $23.00 and set a “buy” rating for the company in a research note on Tuesday, June 21st. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $22.08.

Cinemark Stock Up 2.9 %

Shares of NYSE CNK opened at $19.38 on Wednesday. The company has a current ratio of 1.11, a quick ratio of 1.09 and a debt-to-equity ratio of 8.60. Cinemark has a 12 month low of $13.37 and a 12 month high of $23.15. The firm has a market capitalization of $2.33 billion, a PE ratio of -8.04 and a beta of 2.15. The firm has a fifty day simple moving average of $16.39 and a two-hundred day simple moving average of $16.36.

Cinemark (NYSE:CNKGet Rating) last announced its quarterly earnings results on Friday, May 6th. The company reported ($0.62) earnings per share for the quarter, missing the consensus estimate of ($0.61) by ($0.01). The firm had revenue of $460.50 million for the quarter, compared to analysts’ expectations of $454.52 million. Cinemark had a negative net margin of 15.54% and a negative return on equity of 85.71%. The company’s quarterly revenue was up 302.5% on a year-over-year basis. During the same period in the previous year, the company earned ($1.75) EPS.

Institutional Trading of Cinemark

A number of institutional investors have recently made changes to their positions in the stock. Elequin Capital LP purchased a new position in shares of Cinemark in the first quarter worth approximately $25,000. Point72 Hong Kong Ltd bought a new stake in Cinemark during the 4th quarter worth approximately $32,000. Herold Advisors Inc. bought a new stake in Cinemark during the 1st quarter worth approximately $35,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in Cinemark during the 4th quarter worth approximately $37,000. Finally, GHP Investment Advisors Inc. bought a new stake in Cinemark during the 1st quarter worth approximately $89,000. Hedge funds and other institutional investors own 93.02% of the company’s stock.

Cinemark Company Profile

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Cinemark Holdings, Inc, together with its subsidiaries, engages in the motion picture exhibition business. As of June 30, 2022, it operated 522 theatres with 5,868 screens in the United States, and South and Central America. The company was founded in 1984 and is headquartered in Plano, Texas.

Further Reading

Earnings History and Estimates for Cinemark (NYSE:CNK)

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