Cinemark Holdings, Inc. to Post Q3 2024 Earnings of $0.21 Per Share, B. Riley Forecasts (NYSE:CNK)

Cinemark Holdings, Inc. (NYSE:CNK) – Equities researchers at B. Riley increased their Q3 2024 earnings estimates for shares of Cinemark in a research note issued on Thursday, May 2nd. B. Riley analyst E. Wold now anticipates that the company will earn $0.21 per share for the quarter, up from their prior forecast of $0.16. B. Riley has a “Neutral” rating and a $16.00 price objective on the stock. The consensus estimate for Cinemark’s current full-year earnings is $0.86 per share. B. Riley also issued estimates for Cinemark’s Q4 2024 earnings at $0.30 EPS and Q4 2025 earnings at $0.50 EPS.

A number of other analysts have also weighed in on the stock. Benchmark reaffirmed a “buy” rating and issued a $23.00 price objective on shares of Cinemark in a research note on Friday, May 3rd. The Goldman Sachs Group reduced their price objective on shares of Cinemark from $16.00 to $12.00 and set a “sell” rating for the company in a research note on Thursday, January 11th. StockNews.com downgraded Cinemark from a “hold” rating to a “sell” rating in a report on Friday, May 3rd. Barrington Research restated an “outperform” rating and set a $24.00 price objective on shares of Cinemark in a research note on Monday. Finally, Wells Fargo & Company upgraded Cinemark from an “underweight” rating to an “overweight” rating and lifted their target price for the company from $13.00 to $23.00 in a research note on Friday, April 5th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Cinemark currently has a consensus rating of “Hold” and a consensus price target of $20.33.

Cinemark Price Performance

CNK opened at $17.38 on Monday. The company has a market capitalization of $2.13 billion, a price-to-earnings ratio of 11.99, a PEG ratio of 2.06 and a beta of 2.25. The company has a current ratio of 1.48, a quick ratio of 1.45 and a debt-to-equity ratio of 7.42. Cinemark has a 12-month low of $13.19 and a 12-month high of $20.40. The business’s fifty day simple moving average is $17.94 and its 200-day simple moving average is $15.86.

Cinemark (NYSE:CNK) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.40. The company had revenue of $579.00 million for 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%. Cinemark’s revenue was down 5.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.03) earnings per share.

Insider Buying and Selling at Cinemark

In related news, insider Wanda Marie Gierhart sold 19,593 shares of Cinemark stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $16.75, for a total value of $328,182.75. Following the completion of the sale, the insider now directly owns 179,591 shares in the company, valued at approximately $3,008,149.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cinemark

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CNK. NBC Securities Inc. increased its holdings in shares of Cinemark by 17.2% in the fourth quarter. NBC Securities Inc. now owns 4,764 shares of the company’s stock valued at $67,000 after purchasing an additional 700 shares during the period. Virtu Financial LLC acquired a new position in Cinemark in the 4th quarter worth approximately $192,000. DekaBank Deutsche Girozentrale acquired a new position in Cinemark in the 3rd quarter worth approximately $193,000. Mackenzie Financial Corp acquired a new stake in Cinemark during the 4th quarter valued at approximately $210,000. Finally, Watershed Asset Management L.L.C. boosted its holdings in shares of Cinemark by 6.2% in the 4th quarter. Watershed Asset Management L.L.C. now owns 15,658 shares of the company’s stock valued at $221,000 after acquiring an additional 915 shares during the last quarter.

About Cinemark

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.