Q3 2016 EPS Estimates for Cinemark Holdings Inc. Raised by Wedbush (CNK)
Cinemark Holdings Inc. (NYSE:CNK) – Investment analysts at Wedbush upped their Q3 2016 earnings per share (EPS) estimates for shares of Cinemark Holdings in a report released on Wednesday. Wedbush analyst M. Pachter now forecasts that the firm will post earnings of $0.54 per share for the quarter, up from their prior forecast of $0.52. Wedbush has a “Neutral” rating and a $40.00 price objective on the stock.
CNK has been the topic of several other reports. MKM Partners raised their price objective on Cinemark Holdings from $40.00 to $43.00 and gave the company a “buy” rating in a research note on Monday, July 25th. JPMorgan Chase & Co. restated a “buy” rating on shares of Cinemark Holdings in a research note on Sunday, July 10th. Drexel Hamilton restated a “buy” rating on shares of Cinemark Holdings in a research note on Thursday, July 7th. Loop Capital assumed coverage on Cinemark Holdings in a research note on Tuesday, August 23rd. They set a “buy” rating and a $44.00 price objective on the stock. Finally, B. Riley restated a “buy” rating and set a $47.00 price objective on shares of Cinemark Holdings in a research note on Sunday, August 14th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $40.46.
Cinemark Holdings (NYSE:CNK) opened at 38.49 on Thursday. The firm has a market capitalization of $4.45 billion, a P/E ratio of 20.59 and a beta of 1.04. Cinemark Holdings has a 1-year low of $26.56 and a 1-year high of $39.45. The company has a 50 day moving average of $38.21 and a 200 day moving average of $36.20.
Cinemark Holdings (NYSE:CNK) last released its quarterly earnings results on Tuesday, August 9th. The company reported $0.46 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by $0.05. Cinemark Holdings had a net margin of 7.58% and a return on equity of 19.68%. The business earned $744.40 million during the quarter, compared to analyst estimates of $746.05 million. During the same quarter last year, the company posted $0.61 earnings per share. The company’s revenue was down 6.9% on a year-over-year basis.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bessemer Group Inc. raised its position in Cinemark Holdings by 99.9% in the second quarter. Bessemer Group Inc. now owns 3,346 shares of the company’s stock worth $122,000 after buying an additional 1,672 shares during the last quarter. Advisor Group Inc. bought a new position in Cinemark Holdings during the second quarter worth $121,000. Cantab Capital Partners LLP bought a new position in Cinemark Holdings during the second quarter worth $161,000. Park National Corp OH bought a new position in Cinemark Holdings during the second quarter worth $203,000. Finally, Advance Capital I Inc. bought a new position in Cinemark Holdings during the second quarter worth $204,000. 88.52% of the stock is owned by institutional investors and hedge funds.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 13th. Shareholders of record on Wednesday, August 31st were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date of this dividend was Monday, August 29th. Cinemark Holdings’s payout ratio is presently 58.06%.
Cinemark Holdings Company Profile
Cinemark Holdings, Inc (Cinemark) is engaged in the motion picture exhibition business with theatres in the United States, Brazil, Mexico, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Curacao and Bolivia. The Company manages its business in two segments: United States markets and international markets.
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