Cinemark Holdings, Inc. (NYSE:CNK) Expected to Earn Q2 2024 Earnings of $0.21 Per Share

Cinemark Holdings, Inc. (NYSE:CNK) – Equities research analysts at Roth Capital reduced 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 anticipates that the company will post earnings of $0.21 per share for the quarter, down from their previous 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.

Several other research firms have also weighed in on CNK. The Goldman Sachs Group reduced their target price on Cinemark from $16.00 to $12.00 and set a “sell” rating for the company in a report on Thursday, January 11th. B. Riley upped their price target on Cinemark from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Friday. StockNews.com lowered Cinemark from a “hold” rating to a “sell” rating in a report on Friday. Wedbush reiterated an “outperform” rating and set a $23.00 price target on shares of Cinemark in a report on Thursday, April 25th. Finally, Roth Mkm upped their price target on Cinemark from $17.00 to $19.00 and gave the stock a “neutral” rating in a report on Wednesday, April 10th. 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. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $20.33.

Cinemark Stock Down 4.0 %

CNK opened at $17.02 on Monday. The business has a 50 day moving average price of $17.93 and a 200 day moving average price of $15.85. Cinemark has a twelve month low of $13.19 and a twelve month high of $20.40. The company has a debt-to-equity ratio of 7.42, a quick ratio of 1.45 and a current ratio of 1.48. The firm has a market cap of $2.08 billion, a P/E ratio of 11.73, a price-to-earnings-growth ratio of 2.06 and a beta of 2.25.

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

Institutional Trading of Cinemark

Several large investors have recently made changes to their positions in the business. NBC Securities Inc. grew 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 worth $67,000 after purchasing an additional 700 shares during the last quarter. Watershed Asset Management L.L.C. grew its holdings in shares of Cinemark by 6.2% during the fourth quarter. Watershed Asset Management L.L.C. now owns 15,658 shares of the company’s stock worth $221,000 after purchasing an additional 915 shares during the last quarter. Los Angeles Capital Management LLC grew its holdings in shares of Cinemark by 1.7% during the third quarter. Los Angeles Capital Management LLC now owns 58,368 shares of the company’s stock worth $1,071,000 after purchasing an additional 967 shares during the last quarter. First National Bank of Hutchinson grew its holdings in shares of Cinemark by 1.4% during the third quarter. First National Bank of Hutchinson now owns 69,853 shares of the company’s stock worth $1,282,000 after purchasing an additional 989 shares during the last quarter. Finally, Natixis Advisors L.P. grew its holdings in shares of Cinemark by 5.9% during the third quarter. Natixis Advisors L.P. now owns 22,210 shares of the company’s stock worth $408,000 after purchasing an additional 1,241 shares during the last quarter.

Insider Buying and Selling at Cinemark

In other Cinemark news, insider Wanda Marie Gierhart sold 19,593 shares of the company’s stock in a transaction 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 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 hyperlink. Company insiders own 2.30% of the company’s stock.

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.