Q3 2024 EPS Estimates for Cinemark Holdings, Inc. Raised by B. Riley (NYSE:CNK)

Cinemark Holdings, Inc. (NYSE:CNK) – Equities researchers at B. Riley lifted their Q3 2024 earnings estimates for Cinemark in a research report issued on Thursday, May 2nd. B. Riley analyst E. Wold now expects that the company will post earnings of $0.21 per share for the quarter, up from their prior estimate of $0.16. B. Riley has a “Neutral” rating and a $16.00 price objective on the stock. The consensus estimate for Cinemark’s current full-year earnings is $0.86 per share. B. Riley also issued estimates for Cinemark’s Q4 2024 earnings at $0.30 EPS and Q4 2025 earnings at $0.50 EPS.

Several other equities research analysts have also recently weighed in on the company. Wells Fargo & Company upgraded Cinemark from an “underweight” rating to an “overweight” rating and boosted their target price for the stock from $13.00 to $23.00 in a research note on Friday, April 5th. Wedbush restated an “outperform” rating and set a $23.00 price objective on shares of Cinemark in a research report on Thursday, April 25th. The Goldman Sachs Group dropped their target price on shares of Cinemark from $16.00 to $12.00 and set a “sell” rating on the stock in a research report on Thursday, January 11th. Roth Mkm lifted their price target on shares of Cinemark from $17.00 to $19.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 10th. Finally, StockNews.com downgraded shares of Cinemark from a “hold” rating to a “sell” rating in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $20.33.

Cinemark Trading Down 4.0 %

Shares of CNK stock opened at $17.02 on Monday. The company has a 50-day moving average of $17.93 and a two-hundred day moving average of $15.85. The firm has a market cap of $2.08 billion, a PE ratio of 11.73, a price-to-earnings-growth ratio of 2.06 and a beta of 2.25. Cinemark has a 1-year low of $13.19 and a 1-year high of $20.40. The company has a debt-to-equity ratio of 7.42, a current ratio of 1.48 and a quick ratio of 1.45.

Cinemark (NYSE:CNK) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.40. The business had revenue of $579.00 million during the quarter, compared to analyst estimates of $561.91 million. Cinemark had a return on equity of 69.48% and a net margin of 7.12%. The business’s revenue was down 5.2% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.03) earnings per share.

Insider Buying and Selling

In other news, insider Wanda Marie Gierhart sold 19,593 shares of the stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $16.75, for a total transaction of $328,182.75. Following the transaction, the insider now owns 179,591 shares in the company, valued at approximately $3,008,149.25. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.30% of the stock is currently owned by insiders.

Institutional Trading of Cinemark

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. NBC Securities Inc. grew its holdings in shares of Cinemark by 17.2% during the 4th quarter. NBC Securities Inc. now owns 4,764 shares of the company’s stock worth $67,000 after purchasing an additional 700 shares in the last quarter. Virtu Financial LLC bought a new position in Cinemark in the fourth quarter worth $192,000. DekaBank Deutsche Girozentrale acquired a new stake in Cinemark during the third quarter worth $193,000. Mackenzie Financial Corp bought a new stake in Cinemark in the 4th quarter valued at $210,000. Finally, Watershed Asset Management L.L.C. raised its stake in shares of Cinemark by 6.2% in the 4th quarter. Watershed Asset Management L.L.C. now owns 15,658 shares of the company’s stock valued at $221,000 after buying an additional 915 shares in the last quarter.

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.