Q2 2024 EPS Estimates for Cinemark Holdings, Inc. (NYSE:CNK) Raised by Wedbush

Cinemark Holdings, Inc. (NYSE:CNK) – Wedbush raised their Q2 2024 earnings per share (EPS) estimates for shares of Cinemark in a note issued to investors on Thursday, April 18th. Wedbush analyst A. Reese now expects that the company will post earnings per share of $0.44 for the quarter, up from their prior forecast of $0.43. Wedbush currently has a “Outperform” rating and a $23.00 target price on the stock. The consensus estimate for Cinemark’s current full-year earnings is $0.83 per share. Wedbush also issued estimates for Cinemark’s Q4 2024 earnings at $0.47 EPS, FY2024 earnings at $1.27 EPS and Q2 2025 earnings at $0.62 EPS.

Several other research firms also recently issued reports on CNK. Benchmark reaffirmed a “buy” rating and set a $22.00 price objective on shares of Cinemark in a report on Wednesday, April 10th. B. Riley downgraded shares of Cinemark from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $23.00 to $15.00 in a report on Tuesday, January 2nd. Wells Fargo & Company raised shares of Cinemark from an “underweight” rating to an “overweight” rating and increased their price objective for the company from $13.00 to $23.00 in a report on Friday, April 5th. The Goldman Sachs Group decreased their price target on shares of Cinemark from $16.00 to $12.00 and set a “sell” rating on the stock in a research note on Thursday, January 11th. Finally, JPMorgan Chase & Co. raised their price target on shares of Cinemark from $17.00 to $19.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $19.89.

Cinemark Stock Performance

CNK opened at $18.13 on Friday. The company has a quick ratio of 1.42, a current ratio of 1.45 and a debt-to-equity ratio of 7.73. The company has a market cap of $2.20 billion, a price-to-earnings ratio of 14.74, a PEG ratio of 2.18 and a beta of 2.27. Cinemark has a 52-week low of $13.19 and a 52-week high of $20.40. The firm’s fifty day simple moving average is $17.55 and its two-hundred day simple moving average is $15.90.

Cinemark (NYSE:CNK) last posted its quarterly earnings data on Friday, February 16th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.08). The company had revenue of $638.90 million for the quarter, compared to analysts’ expectations of $619.67 million. Cinemark had a net margin of 6.14% and a return on equity of 72.91%. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the previous year, the business earned ($0.82) earnings per share.

Hedge Funds Weigh In On Cinemark

A number of institutional investors have recently bought and sold shares of CNK. Royal London Asset Management Ltd. acquired a new stake in shares of Cinemark during the fourth quarter valued at about $19,906,000. Hennessy Advisors Inc. acquired a new stake in shares of Cinemark during the fourth quarter valued at about $16,001,000. Norges Bank acquired a new stake in shares of Cinemark during the fourth quarter valued at about $8,659,000. Renaissance Technologies LLC increased its position in shares of Cinemark by 241.0% during the first quarter. Renaissance Technologies LLC now owns 1,334,400 shares of the company’s stock valued at $23,058,000 after acquiring an additional 943,100 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Cinemark by 85.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,714,344 shares of the company’s stock valued at $29,624,000 after acquiring an additional 789,200 shares during the last quarter.

Insiders Place Their Bets

In other Cinemark news, insider Wanda Marie Gierhart sold 19,593 shares of Cinemark stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $16.75, for a total transaction of $328,182.75. Following the transaction, the insider now directly owns 179,591 shares of the company’s stock, valued at $3,008,149.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.30% of the stock is owned by insiders.

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.