Q2 2024 EPS Estimates for Cinemark Holdings, Inc. Decreased by Analyst (NYSE:CNK)

Cinemark Holdings, Inc. (NYSE:CNK) – Investment analysts at Roth Capital cut their Q2 2024 earnings per share (EPS) estimates for shares of Cinemark in a report issued on Thursday, May 2nd. Roth Capital analyst E. Handler now expects that the company will post earnings of $0.21 per share for the quarter, down from their prior estimate 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 issued its earnings results on Thursday, May 2nd. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.40. Cinemark had a net margin of 7.12% and a return on equity of 69.48%. The company had revenue of $579.00 million for the quarter, compared to analysts’ expectations of $561.91 million. During the same period in the prior year, the company earned ($0.03) earnings per share. The firm’s revenue was down 5.2% compared to the same quarter last year.

Other equities research analysts have also issued reports about the company. JPMorgan Chase & Co. increased their target price on Cinemark from $17.00 to $19.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Wedbush reissued an “outperform” rating and set a $23.00 target price on shares of Cinemark in a research note on Thursday, April 25th. The Goldman Sachs Group dropped their price target on shares of Cinemark from $16.00 to $12.00 and set a “sell” rating on the stock in a research note on Thursday, January 11th. StockNews.com downgraded Cinemark from a “hold” rating to a “sell” rating in a research report on Friday. Finally, Roth Mkm raised their target price on Cinemark from $17.00 to $19.00 and gave the company a “neutral” rating in a research report on Wednesday, April 10th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $20.33.

Cinemark Trading Up 0.7 %

Shares of NYSE CNK opened at $17.72 on Monday. Cinemark has a 12-month low of $13.19 and a 12-month high of $20.40. The company has a market cap of $2.15 billion, a price-to-earnings ratio of 12.22, a price-to-earnings-growth ratio of 2.09 and a beta of 2.25. The company has a current ratio of 1.45, a quick ratio of 1.42 and a debt-to-equity ratio of 7.15. The stock’s 50 day simple moving average is $17.91 and its 200 day simple moving average is $15.85.

Insider Activity

In related news, insider Wanda Marie Gierhart sold 19,593 shares of Cinemark 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 of the company’s stock, valued at $3,008,149.25. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 2.30% of the company’s stock.

Institutional Trading of Cinemark

Institutional investors and hedge funds have recently bought and sold shares of the stock. Assenagon Asset Management S.A. raised its holdings in shares of Cinemark by 30.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 288,058 shares of the company’s stock valued at $4,059,000 after acquiring an additional 67,851 shares during the period. Federated Hermes Inc. raised its stake in Cinemark by 17.0% during the 4th quarter. Federated Hermes Inc. now owns 696,859 shares of the company’s stock valued at $9,819,000 after purchasing an additional 101,272 shares during the period. Louisiana State Employees Retirement System purchased a new position in shares of Cinemark during the fourth quarter valued at $748,000. Schonfeld Strategic Advisors LLC raised its position in Cinemark by 276.6% during the third quarter. Schonfeld Strategic Advisors LLC now owns 189,074 shares of the company’s stock valued at $3,470,000 after buying an additional 138,874 shares during the period. Finally, Illinois Municipal Retirement Fund purchased a new stake in Cinemark in the 4th quarter worth about $901,000.

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.