What is Wedbush's Estimate for Cinemark Q3 Earnings?

Cinemark Holdings, Inc. (NYSE:CNK - Free Report) - Investment analysts at Wedbush increased their Q3 2024 earnings per share (EPS) estimates for shares of Cinemark in a research report issued to clients and investors on Tuesday, October 29th. Wedbush analyst A. Reese now expects that the company will earn $0.58 per share for the quarter, up from their prior estimate of $0.48. Wedbush currently has a "Outperform" rating and a $32.00 price objective 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 issued its quarterly earnings results on Friday, August 2nd. The company reported $0.32 EPS for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $691.74 million. During the same period in the previous year, the firm posted $0.80 EPS. The business's revenue for the quarter was down 22.1% compared to the same quarter last year.

Several other equities research analysts have also commented on CNK. B. Riley lowered Cinemark from a "buy" rating to a "neutral" rating and set a $31.00 price objective for the company. in a research note on Tuesday, August 27th. StockNews.com lowered Cinemark from a "hold" rating to a "sell" rating in a research note on Thursday, October 24th. Barrington Research lowered Cinemark from an "outperform" rating to a "market perform" rating in a research note on Wednesday, August 28th. Macquarie increased their price target on Cinemark from $21.00 to $24.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 9th. Finally, The Goldman Sachs Group increased their price target on Cinemark from $16.00 to $20.00 and gave the stock a "sell" rating in a research note on Thursday, September 19th. Two investment analysts have rated the stock with a sell rating, three have assigned 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.com, the company has an average rating of "Moderate Buy" and a consensus price target of $28.20.

Cinemark Stock Up 2.8 %

CNK stock traded up $0.82 during midday trading on Wednesday, hitting $30.48. The company's stock had a trading volume of 3,492,994 shares, compared to its average volume of 2,855,140. The company has a market cap of $3.73 billion, a PE ratio of 20.46, a P/E/G ratio of 1.94 and a beta of 2.36. Cinemark has a 12 month low of $13.19 and a 12 month high of $30.69. The company has a current ratio of 1.29, a quick ratio of 1.26 and a debt-to-equity ratio of 6.23. The firm's 50-day moving average is $28.09 and its 200-day moving average is $22.97.

Hedge Funds Weigh In On Cinemark

A number of large investors have recently bought and sold shares of the business. Arizona State Retirement System increased its position in shares of Cinemark by 1.8% during the second quarter. Arizona State Retirement System now owns 30,636 shares of the company's stock worth $662,000 after purchasing an additional 556 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its position in shares of Cinemark by 0.5% during the first quarter. CANADA LIFE ASSURANCE Co now owns 122,908 shares of the company's stock worth $2,209,000 after purchasing an additional 612 shares in the last quarter. 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 purchasing an additional 877 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Cinemark by 106.1% during the third quarter. GAMMA Investing LLC now owns 2,020 shares of the company's stock worth $56,000 after purchasing an additional 1,040 shares in the last quarter. Finally, QRG Capital Management Inc. increased its position in shares of Cinemark by 5.9% during the second quarter. QRG Capital Management Inc. now owns 20,557 shares of the company's stock worth $444,000 after purchasing an additional 1,148 shares in the last quarter.

Insider Activity at Cinemark

In related news, insider Valmir Fernandes sold 25,000 shares of the business's 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 owns 204,729 shares in the company, valued at approximately $5,566,581.51. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.30% of the stock is owned by company insiders.

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.