Roth Capital Research Analysts Decrease Earnings Estimates for Cinemark Holdings, Inc. (NYSE:CNK)

Cinemark Holdings, Inc. (NYSE:CNK) – Stock analysts at Roth Capital lowered their Q2 2024 EPS estimates for shares of Cinemark in a report issued on Thursday, May 2nd. Roth Capital analyst E. Handler now forecasts that the company will post earnings per share of $0.21 for the quarter, down from their prior estimate of $0.26. The consensus estimate for Cinemark’s current full-year earnings is $0.86 per share. Roth Capital also issued estimates for Cinemark’s Q3 2024 earnings at $0.48 EPS, Q4 2024 earnings at $0.03 EPS, FY2025 earnings at $1.94 EPS and FY2026 earnings at $2.35 EPS.

Cinemark (NYSE:CNK) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.40. The company had revenue of $579.00 million during the quarter, compared to analysts’ expectations of $561.91 million. Cinemark had a return on equity of 69.48% and a net margin of 7.12%. The business’s revenue was down 5.2% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.03) earnings per share.

A number of other equities research analysts have also recently issued reports on the stock. B. Riley boosted their target price on shares of Cinemark from $14.00 to $16.00 and gave the company a “neutral” rating in a research report on Friday, May 3rd. The Goldman Sachs Group lowered their target price on shares of Cinemark from $16.00 to $12.00 and set a “sell” rating on the stock in a report on Thursday, January 11th. StockNews.com downgraded shares of Cinemark from a “hold” rating to a “sell” rating in a research report on Friday, May 3rd. Barrington Research reissued an “outperform” rating and set a $24.00 price target on shares of Cinemark in a research report on Monday. Finally, Benchmark reaffirmed a “buy” rating and issued a $23.00 price objective on shares of Cinemark in a report on Friday, May 3rd. Two analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $20.33.

Cinemark Stock Performance

CNK opened at $17.38 on Monday. The company has a debt-to-equity ratio of 7.42, a current ratio of 1.48 and a quick ratio of 1.45. The company has a market capitalization of $2.13 billion, a PE ratio of 11.99, a price-to-earnings-growth ratio of 2.06 and a beta of 2.25. The business has a fifty day simple moving average of $17.94 and a 200 day simple moving average of $15.86. Cinemark has a 1 year low of $13.19 and a 1 year high of $20.40.

Hedge Funds Weigh In On Cinemark

Hedge funds have recently modified their holdings of the business. Assenagon Asset Management S.A. raised its position in Cinemark by 30.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 288,058 shares of the company’s stock worth $4,059,000 after purchasing an additional 67,851 shares during the last quarter. Federated Hermes Inc. boosted its holdings in Cinemark by 17.0% in the fourth quarter. Federated Hermes Inc. now owns 696,859 shares of the company’s stock valued at $9,819,000 after acquiring an additional 101,272 shares during the last quarter. Louisiana State Employees Retirement System acquired a new stake in Cinemark during the 4th quarter valued at approximately $748,000. Schonfeld Strategic Advisors LLC raised its holdings in Cinemark by 276.6% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 189,074 shares of the company’s stock worth $3,470,000 after purchasing an additional 138,874 shares during the last quarter. Finally, Illinois Municipal Retirement Fund acquired a new position in shares of Cinemark in the 4th quarter worth approximately $901,000.

Insider Buying and Selling at Cinemark

In other news, insider Wanda Marie Gierhart sold 19,593 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $16.75, for a total transaction of $328,182.75. Following the sale, the insider now directly owns 179,591 shares in the company, valued at $3,008,149.25. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 2.30% of the company’s stock.

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.