FY2016 Earnings Forecast for Cinemark Holdings, Inc. (CNK) Issued By Wedbush
Cinemark Holdings, Inc. (NYSE:CNK) – Analysts at Wedbush lifted their FY2016 earnings per share (EPS) estimates for Cinemark Holdings in a research report issued to clients and investors on Wednesday. Wedbush analyst M. Pachter now forecasts that the brokerage will post earnings of $1.93 per share for the year, up from their previous forecast of $1.87. Wedbush has a “Neutral” rating and a $40.00 price objective on the stock. Wedbush also issued estimates for Cinemark Holdings’ Q4 2016 earnings at $0.43 EPS, Q1 2017 earnings at $0.53 EPS, Q2 2017 earnings at $0.60 EPS, Q4 2017 earnings at $0.54 EPS and FY2017 earnings at $2.23 EPS.
Cinemark Holdings (NYSE:CNK) last issued its quarterly earnings data on Tuesday, August 9th. The company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by $0.05. Cinemark Holdings had a return on equity of 19.68% and a net margin of 7.58%. The business earned $744.40 million during the quarter, compared to the consensus estimate of $746.05 million. During the same period last year, the company earned $0.61 earnings per share. The business’s quarterly revenue was down 6.9% compared to the same quarter last year.
Several other equities research analysts also recently issued reports on the company. Loop Capital assumed coverage on Cinemark Holdings in a research report on Tuesday, August 23rd. They issued a “buy” rating and a $44.00 price target on the stock. B. Riley reaffirmed a “buy” rating and issued a $47.00 price target on shares of Cinemark Holdings in a research report on Sunday, August 14th. Wunderlich raised their price target on Cinemark Holdings from $40.00 to $47.00 and gave the company a “buy” rating in a research report on Friday, August 12th. Drexel Hamilton downgraded Cinemark Holdings from a “buy” rating to a “hold” rating and set a $42.00 price target on the stock. in a research report on Wednesday, August 10th. Finally, Credit Suisse Group AG set a $37.00 price target on Cinemark Holdings and gave the company a “hold” rating in a research report on Monday, August 1st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $40.46.
Shares of Cinemark Holdings (NYSE:CNK) traded up 0.47% during trading on Friday, reaching $38.67. The company had a trading volume of 144,790 shares. The firm has a 50-day moving average of $38.21 and a 200-day moving average of $36.20. The company has a market cap of $4.47 billion, a P/E ratio of 20.69 and a beta of 1.04. Cinemark Holdings has a 12-month low of $26.56 and a 12-month high of $39.45.
Several hedge funds and other institutional investors have recently bought and sold shares of CNK. Opus Capital Group LLC boosted its position in Cinemark Holdings by 1.2% in the second quarter. Opus Capital Group LLC now owns 5,697 shares of the company’s stock worth $207,000 after buying an additional 68 shares during the period. Smithfield Trust Co. raised its stake in shares of Cinemark Holdings by 1.4% in the second quarter. Smithfield Trust Co. now owns 6,666 shares of the company’s stock worth $243,000 after buying an additional 93 shares in the last quarter. Miles Capital Inc. raised its stake in shares of Cinemark Holdings by 1.5% in the second quarter. Miles Capital Inc. now owns 11,936 shares of the company’s stock worth $435,000 after buying an additional 173 shares in the last quarter. Capstone Asset Management Co. raised its stake in shares of Cinemark Holdings by 2.8% in the second quarter. Capstone Asset Management Co. now owns 9,862 shares of the company’s stock worth $360,000 after buying an additional 270 shares in the last quarter. Finally, State Treasurer State of Michigan raised its stake in shares of Cinemark Holdings by 0.7% in the second quarter. State Treasurer State of Michigan now owns 42,400 shares of the company’s stock worth $1,546,000 after buying an additional 300 shares in the last quarter. Institutional investors own 88.52% of the company’s stock.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 13th. Stockholders of record on Wednesday, August 31st were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date of this dividend was Monday, August 29th. Cinemark Holdings’s dividend payout ratio (DPR) is currently 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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