Wedbush Research Analysts Lift Earnings Estimates for Cinemark Holdings, Inc. (CNK)
Cinemark Holdings, Inc. (NYSE:CNK) – Research analysts at Wedbush increased their Q3 2018 earnings estimates for shares of Cinemark in a research note issued to investors on Monday, October 15th. Wedbush analyst M. Pachter now expects that the company will earn $0.31 per share for the quarter, up from their previous forecast of $0.27. Wedbush has a “Buy” rating and a $43.00 price target on the stock. Wedbush also issued estimates for Cinemark’s Q1 2019 earnings at $0.33 EPS, Q2 2019 earnings at $0.73 EPS, Q3 2019 earnings at $0.51 EPS and Q4 2019 earnings at $0.46 EPS.
CNK has been the topic of several other research reports. ValuEngine raised Cinemark from a “hold” rating to a “buy” rating in a research report on Tuesday, October 9th. Morgan Stanley lowered their price target on Cinemark from $42.00 to $39.00 and set a “$34.56” rating on the stock in a research report on Monday, July 23rd. Imperial Capital initiated coverage on Cinemark in a report on Wednesday, July 11th. They set an “outperform” rating and a $46.00 target price on the stock. Barrington Research reissued a “buy” rating and set a $47.00 target price on shares of Cinemark in a report on Monday, August 13th. Finally, Zacks Investment Research raised Cinemark from a “sell” rating to a “hold” rating in a report on Wednesday, October 10th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Cinemark presently has an average rating of “Buy” and a consensus target price of $42.95.
Cinemark (NYSE:CNK) last posted its quarterly earnings results on Wednesday, August 8th. The company reported $0.70 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by ($0.05). The company had revenue of $889.05 million for the quarter, compared to analyst estimates of $897.68 million. Cinemark had a return on equity of 19.49% and a net margin of 8.86%. The firm’s revenue for the quarter was up 18.4% compared to the same quarter last year. During the same period last year, the firm earned $0.44 EPS.
Several hedge funds have recently bought and sold shares of CNK. Northern Trust Corp increased its holdings in shares of Cinemark by 0.6% during the 1st quarter. Northern Trust Corp now owns 801,489 shares of the company’s stock worth $30,191,000 after acquiring an additional 4,622 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Cinemark by 3.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,456,429 shares of the company’s stock worth $54,863,000 after acquiring an additional 51,289 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Cinemark by 42.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 29,230 shares of the company’s stock worth $1,101,000 after acquiring an additional 8,727 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Cinemark by 12,541.8% during the 1st quarter. Russell Investments Group Ltd. now owns 79,264 shares of the company’s stock worth $2,986,000 after acquiring an additional 78,637 shares during the last quarter. Finally, Sei Investments Co. increased its holdings in shares of Cinemark by 31.8% during the 1st quarter. Sei Investments Co. now owns 71,580 shares of the company’s stock worth $2,696,000 after acquiring an additional 17,258 shares during the last quarter. 99.60% of the stock is currently owned by institutional investors and hedge funds.
Cinemark Holdings, Inc, together with its subsidiaries, engages in the motion picture exhibition business. It operates theatres in the United States, Brazil, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Bolivia, Curacao, and Paraguay. As of June 30, 2018, the company operated 539 theatres and 5,998 screens.
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