Barrington Research Weighs in on Cinemark Holdings, Inc.’s Q2 2024 Earnings (NYSE:CNK)

Cinemark Holdings, Inc. (NYSE:CNK) – Research analysts at Barrington Research lowered their Q2 2024 earnings per share estimates for shares of Cinemark in a note issued to investors on Monday, May 6th. Barrington Research analyst J. Goss now expects that the company will earn $0.18 per share for the quarter, down from their previous estimate of $0.33. Barrington Research currently has a “Outperform” rating and a $24.00 price objective on the stock. The consensus estimate for Cinemark’s current full-year earnings is $0.86 per share. Barrington Research also issued estimates for Cinemark’s Q4 2024 earnings at $0.23 EPS, Q1 2025 earnings at $0.03 EPS, Q2 2025 earnings at $0.63 EPS and Q4 2025 earnings at $0.20 EPS.

Cinemark (NYSE:CNK) last posted 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. The company 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%. Cinemark’s revenue was down 5.2% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.03) earnings per share.

Several other equities analysts have also issued reports on CNK. 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 report on Wednesday, April 10th. Wedbush reiterated an “outperform” rating and issued a $23.00 price target on shares of Cinemark in a research note on Thursday, April 25th. B. Riley boosted their price target on Cinemark from $14.00 to $16.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. JPMorgan Chase & Co. increased their price objective on shares of Cinemark from $17.00 to $19.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Finally, Benchmark reissued a “buy” rating and set a $23.00 target price on shares of Cinemark in a research report on Friday, May 3rd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Cinemark presently has an average rating of “Hold” and a consensus price target of $20.33.

Cinemark Price Performance

CNK opened at $17.37 on Thursday. The firm has a market capitalization of $2.13 billion, a PE ratio of 11.98, a price-to-earnings-growth ratio of 2.06 and a beta of 2.25. The business’s 50-day moving average is $17.94 and its two-hundred day moving average is $15.87. 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.

Institutional Trading of Cinemark

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CNK. Assenagon Asset Management S.A. lifted its stake in Cinemark by 30.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 288,058 shares of the company’s stock worth $4,059,000 after acquiring an additional 67,851 shares in the last quarter. Federated Hermes Inc. increased its stake in Cinemark by 17.0% during the 4th quarter. Federated Hermes Inc. now owns 696,859 shares of the company’s stock worth $9,819,000 after buying an additional 101,272 shares during the period. Louisiana State Employees Retirement System acquired a new stake in Cinemark during the 4th quarter worth approximately $748,000. Schonfeld Strategic Advisors LLC increased its stake in shares of Cinemark by 276.6% during the third quarter. Schonfeld Strategic Advisors LLC now owns 189,074 shares of the company’s stock worth $3,470,000 after buying an additional 138,874 shares during the period. Finally, Illinois Municipal Retirement Fund acquired a new stake in Cinemark in the fourth quarter valued at approximately $901,000.

Insiders Place Their Bets

In related news, insider Wanda Marie Gierhart sold 19,593 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was 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 directly owns 179,591 shares in the company, valued at $3,008,149.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 2.30% of the stock is owned by insiders.

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.