Q1 2024 EPS Estimates for Cinemark Holdings, Inc. (NYSE:CNK) Lifted by Wedbush

Cinemark Holdings, Inc. (NYSE:CNK) – Analysts at Wedbush upped their Q1 2024 EPS estimates for Cinemark in a research report issued to clients and investors on Thursday, April 18th. Wedbush analyst A. Reese now anticipates that the company will post earnings per share of ($0.15) for the quarter, up from their prior forecast of ($0.21). Wedbush has a “Outperform” rating and a $23.00 price objective on the stock. The consensus estimate for Cinemark’s current full-year earnings is $0.85 per share. Wedbush also issued estimates for Cinemark’s Q3 2024 earnings at $0.52 EPS, Q1 2025 earnings at ($0.06) EPS, Q3 2025 earnings at $0.55 EPS, Q4 2025 earnings at $0.55 EPS, FY2025 earnings at $1.66 EPS and FY2026 earnings at $1.93 EPS.

Other equities analysts have also issued reports about the company. JPMorgan Chase & Co. raised their price target on Cinemark from $17.00 to $19.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. B. Riley downgraded shares of Cinemark from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $23.00 to $15.00 in a research note on Tuesday, January 2nd. Barrington Research reiterated an “outperform” rating and set a $24.00 price target on shares of Cinemark in a report on Monday. Benchmark reissued a “buy” rating and issued a $22.00 price target on shares of Cinemark in a report on Wednesday, April 10th. Finally, Roth Mkm boosted 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 Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $20.11.

Cinemark Stock Down 2.0 %

CNK opened at $17.86 on Monday. Cinemark has a 12 month low of $13.19 and a 12 month high of $20.40. The company has a current ratio of 1.45, a quick ratio of 1.42 and a debt-to-equity ratio of 7.73. The business’s 50-day moving average price is $17.67 and its 200-day moving average price is $15.86. The company has a market cap of $2.17 billion, a P/E ratio of 14.52, a P/E/G ratio of 2.15 and a beta of 2.27.

Cinemark (NYSE:CNK) last issued its earnings results on Friday, February 16th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.08). Cinemark had a return on equity of 72.91% and a net margin of 6.14%. The business had revenue of $638.90 million during the quarter, compared to analysts’ expectations of $619.67 million. During the same quarter in the previous year, the business earned ($0.82) EPS. Cinemark’s revenue for the quarter was up 6.5% compared to the same quarter last year.

Insiders Place Their Bets

In other Cinemark news, insider Wanda Marie Gierhart sold 19,593 shares of the firm’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 sale, 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 accessible through this link. Company insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

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