Cinemark Holdings, Inc. (NYSE:CNK - Free Report) - Stock analysts at Roth Capital boosted their Q3 2024 earnings per share (EPS) estimates for shares of Cinemark in a research report issued on Thursday, October 10th. Roth Capital analyst E. Handler now forecasts that the company will post earnings of $0.61 per share for the quarter, up from their previous forecast of $0.44. Roth Capital currently has a "Strong-Buy" rating on the stock. The consensus estimate for Cinemark's current full-year earnings is $1.41 per share. Roth Capital also issued estimates for Cinemark's FY2025 earnings at $2.10 EPS and FY2026 earnings at $2.86 EPS.
Other equities research analysts have also recently issued reports about the company. Roth Mkm lifted their price objective on Cinemark from $30.00 to $33.00 and gave the stock a "buy" rating in a report on Thursday. Benchmark reiterated a "buy" rating and issued a $23.00 target price on shares of Cinemark in a research report on Monday, July 1st. B. Riley cut shares of Cinemark from a "buy" rating to a "neutral" rating and set a $31.00 price target on the stock. in a research report on Tuesday, August 27th. Wells Fargo & Company lifted their target price on Cinemark from $28.00 to $31.00 and gave the company an "overweight" rating in a research report on Thursday. Finally, Macquarie upped their price objective on shares of Cinemark from $21.00 to $24.00 and gave the stock an "outperform" rating in a report on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Cinemark presently has an average rating of "Moderate Buy" and an average price target of $28.10.
Read Our Latest Research Report on CNK
Cinemark Price Performance
CNK traded down $0.59 during midday trading on Monday, hitting $29.09. 2,467,692 shares of the company traded hands, compared to its average volume of 2,890,630. The company has a market capitalization of $3.56 billion, a price-to-earnings ratio of 20.06, a PEG ratio of 1.94 and a beta of 2.36. The business has a 50 day simple moving average of $27.52 and a two-hundred day simple moving average of $22.11. The company has a current ratio of 1.29, a quick ratio of 1.26 and a debt-to-equity ratio of 6.23. Cinemark has a 52-week low of $13.19 and a 52-week high of $29.87.
Cinemark (NYSE:CNK - Get Free Report) last announced its earnings results on Friday, August 2nd. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.07 by $0.25. The firm had revenue of $734.20 million for the quarter, compared to analyst estimates of $691.74 million. Cinemark had a return on equity of 41.87% and a net margin of 5.05%. The business's revenue was down 22.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.80 EPS.
Institutional Investors Weigh In On Cinemark
Institutional investors and hedge funds have recently made changes to their positions in the business. Third Point LLC purchased a new stake in shares of Cinemark during the first quarter worth approximately $89,850,000. Steadfast Capital Management LP acquired a new position in Cinemark in the 1st quarter valued at $29,323,000. Jericho Capital Asset Management L.P. purchased a new stake in shares of Cinemark in the first quarter valued at about $15,975,000. Nut Tree Capital Management LP acquired a new position in shares of Cinemark during the first quarter worth about $13,250,000. Finally, Hennessy Advisors Inc. raised its holdings in Cinemark by 18.1% during the second quarter. Hennessy Advisors Inc. now owns 1,530,200 shares of the company's stock worth $33,083,000 after purchasing an additional 234,400 shares in the last quarter.
Insider Activity
In other news, insider Valmir Fernandes sold 25,000 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $27.19, for a total value 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 represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.30% of the company's stock.
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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