Wedbush Comments on Cinemark's Q3 Earnings (NYSE:CNK)

Cinemark Holdings, Inc. (NYSE:CNK - Free Report) - Stock analysts at Wedbush boosted their Q3 2024 earnings estimates for shares of Cinemark in a report issued on Tuesday, October 29th. Wedbush analyst A. Reese now anticipates that the company will post earnings per share of $0.58 for the quarter, up from their prior forecast of $0.48. Wedbush currently has a "Outperform" rating and a $32.00 price target on the stock. The consensus estimate for Cinemark's current full-year earnings is $1.41 per share. Wedbush also issued estimates for Cinemark's Q4 2024 earnings at $0.45 EPS, Q3 2025 earnings at $0.65 EPS and Q4 2025 earnings at $0.69 EPS.

Cinemark (NYSE:CNK - Get Free Report) last posted its quarterly earnings data on Friday, August 2nd. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.25. The firm had revenue of $734.20 million for the quarter, compared to the consensus estimate of $691.74 million. Cinemark had a return on equity of 41.87% and a net margin of 5.05%. The business's revenue for the quarter was down 22.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.80 EPS.

Several other equities analysts have also weighed in on CNK. StockNews.com lowered Cinemark from a "hold" rating to a "sell" rating in a research note on Thursday, October 24th. Morgan Stanley upped their target price on shares of Cinemark from $29.00 to $35.00 and gave the company an "overweight" rating in a research note on Friday, October 11th. Barrington Research cut shares of Cinemark from an "outperform" rating to a "market perform" rating in a research report on Wednesday, August 28th. B. Riley cut shares of Cinemark from a "buy" rating to a "neutral" rating and set a $31.00 price objective for the company. in a research report on Tuesday, August 27th. Finally, Wells Fargo & Company lifted their target price on Cinemark from $28.00 to $31.00 and gave the stock an "overweight" rating in a report on Thursday, October 10th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $28.20.

Cinemark Trading Up 0.2 %

Shares of Cinemark stock traded up $0.06 on Wednesday, hitting $29.72. 211,727 shares of the company's stock traded hands, compared to its average volume of 2,839,244. The firm's 50-day moving average price is $28.09 and its two-hundred day moving average price is $22.97. The company has a debt-to-equity ratio of 6.23, a current ratio of 1.29 and a quick ratio of 1.26. The stock has a market capitalization of $3.64 billion, a PE ratio of 20.46, a price-to-earnings-growth ratio of 1.94 and a beta of 2.36. Cinemark has a one year low of $13.19 and a one year high of $30.10.

Insider Buying and Selling at Cinemark

In other Cinemark news, insider Valmir Fernandes sold 25,000 shares of the stock in a transaction on Monday, August 19th. The shares were 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 owns 204,729 shares in the company, valued at $5,566,581.51. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 2.30% of the company's stock.

Institutional Investors Weigh In On Cinemark

Several hedge funds have recently added to or reduced their stakes in the business. Third Point LLC acquired a new stake in shares of Cinemark during the first quarter worth $89,850,000. Steadfast Capital Management LP bought a new position in shares of Cinemark during the first quarter worth approximately $29,323,000. Jericho Capital Asset Management L.P. acquired a new stake in shares of Cinemark in the first quarter valued at approximately $15,975,000. Nut Tree Capital Management LP acquired a new stake in shares of Cinemark in the first quarter valued at approximately $13,250,000. Finally, Assenagon Asset Management S.A. bought a new stake in shares of Cinemark in the third quarter valued at approximately $12,133,000.

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.