Cinemark Holdings, Inc. (NYSE:CNK - Free Report) - Equities researchers at Wedbush dropped their FY2024 earnings estimates for Cinemark in a note issued to investors on Tuesday, October 29th. Wedbush analyst A. Reese now anticipates that the company will post earnings per share of $1.50 for the year, down from their prior estimate of $1.55. Wedbush 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 Q1 2025 earnings at $0.01 EPS, Q2 2025 earnings at $0.43 EPS, FY2025 earnings at $1.78 EPS and FY2026 earnings at $2.08 EPS.
A number of other equities research analysts have also recently weighed in on CNK. Morgan Stanley boosted their price target on shares of Cinemark from $29.00 to $35.00 and gave the company an "overweight" rating in a research report on Friday, October 11th. Barrington Research raised shares of Cinemark from a "market perform" rating to an "outperform" rating and set a $36.00 price target for the company in a research report on Thursday. Roth Mkm boosted their price target on shares of Cinemark from $30.00 to $33.00 and gave the company a "buy" rating in a research report on Thursday, October 10th. StockNews.com cut shares of Cinemark from a "hold" rating to a "sell" rating in a research report on Thursday, October 24th. Finally, Wells Fargo & Company upped their target price on shares of Cinemark from $28.00 to $31.00 and gave the company an "overweight" rating in a report on Thursday, October 10th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $29.40.
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Cinemark Stock Performance
CNK traded down $0.70 on Thursday, reaching $29.78. The company had a trading volume of 4,232,281 shares, compared to its average volume of 2,861,420. Cinemark has a 1 year low of $13.19 and a 1 year high of $31.09. The stock has a market capitalization of $3.64 billion, a PE ratio of 30.80, a P/E/G ratio of 1.94 and a beta of 2.36. The company has a quick ratio of 1.26, a current ratio of 1.29 and a debt-to-equity ratio of 6.23. The stock has a 50-day moving average price of $28.15 and a 200-day moving average price of $23.03.
Cinemark (NYSE:CNK - Get Free Report) last announced its quarterly earnings results on Friday, August 2nd. The company reported $0.32 earnings per share for the quarter, beating analysts' consensus estimates of $0.07 by $0.25. Cinemark had a net margin of 5.05% and a return on equity of 41.87%. The firm had revenue of $734.20 million during the quarter, compared to analysts' expectations of $691.74 million. During the same period in the previous year, the company earned $0.80 earnings per share. Cinemark's quarterly revenue was down 22.1% compared to the same quarter last year.
Insider Transactions at Cinemark
In other news, insider Valmir Fernandes sold 25,000 shares of the business's stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $27.19, for a total transaction of $679,750.00. Following the transaction, the insider now directly owns 204,729 shares in the company, valued at $5,566,581.51. The trade was 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 Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its holdings in shares of Cinemark by 106.1% in the third quarter. GAMMA Investing LLC now owns 2,020 shares of the company's stock valued at $56,000 after purchasing an additional 1,040 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its holdings in shares of Cinemark by 38.7% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,145 shares of the company's stock valued at $68,000 after purchasing an additional 877 shares in the last quarter. USA Financial Formulas purchased a new stake in shares of Cinemark in the third quarter valued at about $77,000. 1620 Investment Advisors Inc. purchased a new stake in shares of Cinemark in the second quarter valued at about $79,000. Finally, CWM LLC lifted its stake in shares of Cinemark by 134.4% during the third quarter. CWM LLC now owns 2,993 shares of the company's stock valued at $83,000 after buying an additional 1,716 shares during the period.
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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