Cinemark Holdings, Inc. (NYSE:CNK - Free Report) - Investment analysts at B. Riley lifted their FY2024 earnings per share estimates for shares of Cinemark in a note issued to investors on Thursday, October 3rd. B. Riley analyst E. Wold now anticipates that the company will post earnings of $1.40 per share for the year, up from their prior estimate of $1.21. B. Riley has a "Neutral" rating and a $31.00 price objective on the stock. The consensus estimate for Cinemark's current full-year earnings is $1.33 per share. B. Riley also issued estimates for Cinemark's Q4 2024 earnings at $0.36 EPS, Q2 2025 earnings at $0.51 EPS, Q4 2025 earnings at $0.69 EPS and FY2025 earnings at $1.70 EPS.
CNK has been the topic of a number of other research reports. Macquarie lifted their price target on shares of Cinemark from $21.00 to $24.00 and gave the company an "outperform" rating in a research note on Tuesday, July 9th. Roth Mkm lifted their price objective on Cinemark from $28.00 to $30.00 and gave the stock a "buy" rating in a report on Monday, August 5th. The Goldman Sachs Group boosted their price objective on Cinemark from $16.00 to $20.00 and gave the stock a "sell" rating in a research note on Thursday, September 19th. Morgan Stanley raised their target price on Cinemark from $26.00 to $29.00 and gave the company an "overweight" rating in a research report on Monday, August 5th. Finally, Benchmark reiterated a "buy" rating and set a $23.00 price target on shares of Cinemark in a research report on Monday, July 1st. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Cinemark presently has a consensus rating of "Moderate Buy" and a consensus price target of $26.00.
Check Out Our Latest Stock Report on Cinemark
Cinemark Price Performance
Shares of CNK stock traded up $0.07 during mid-day trading on Friday, hitting $26.76. 1,389,747 shares of the stock were exchanged, compared to its average volume of 2,907,974. The company has a quick ratio of 1.26, a current ratio of 1.29 and a debt-to-equity ratio of 6.23. Cinemark has a 52-week low of $13.19 and a 52-week high of $29.07. The firm has a fifty day moving average of $26.97 and a 200 day moving average of $21.64. The company has a market cap of $3.27 billion, a PE ratio of 18.41, a price-to-earnings-growth ratio of 2.07 and a beta of 2.36.
Cinemark (NYSE:CNK - Get Free Report) last posted its earnings results on Friday, August 2nd. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.07 by $0.25. Cinemark had a return on equity of 41.87% and a net margin of 5.05%. The firm had revenue of $734.20 million for the quarter, compared to analyst estimates of $691.74 million. During the same period last year, the company earned $0.80 earnings per share. Cinemark's revenue for the quarter was down 22.1% compared to the same quarter last year.
Insiders Place Their Bets
In related news, insider Valmir Fernandes sold 25,000 shares of the firm's stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $27.19, for a total transaction of $679,750.00. Following the completion of the sale, the insider now directly owns 204,729 shares of the company's stock, valued at approximately $5,566,581.51. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.30% of the stock is owned by insiders.
Hedge Funds Weigh In On Cinemark
Several large investors have recently made changes to their positions in CNK. Point72 Asia Singapore Pte. Ltd. increased its position in shares of Cinemark by 38.7% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,145 shares of the company's stock worth $68,000 after acquiring an additional 877 shares during the period. 1620 Investment Advisors Inc. acquired a new position in shares of Cinemark during the second quarter worth $79,000. Fifth Third Bancorp raised its stake in Cinemark by 414.4% in the second quarter. Fifth Third Bancorp now owns 4,480 shares of the company's stock valued at $97,000 after buying an additional 3,609 shares in the last quarter. Point72 DIFC Ltd purchased a new stake in Cinemark during the second quarter worth approximately $144,000. Finally, Virtu Financial LLC purchased a new stake in shares of Cinemark during the 4th quarter worth approximately $192,000.
About Cinemark
(
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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.
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