Wall Street analysts expect that Cinemark Holdings, Inc. (NYSE:CNK) will post $790.01 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for Cinemark’s earnings. The lowest sales estimate is $782.60 million and the highest is $799.30 million. Cinemark posted sales of $798.48 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 1.1%. The company is scheduled to report its next quarterly earnings report before the market opens on Friday, February 21st.
On average, analysts expect that Cinemark will report full-year sales of $3.28 billion for the current year, with estimates ranging from $3.28 billion to $3.29 billion. For the next year, analysts forecast that the firm will report sales of $3.29 billion, with estimates ranging from $3.25 billion to $3.35 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Cinemark.
A number of equities analysts have recently issued reports on CNK shares. Wedbush lowered their target price on shares of Cinemark from $45.00 to $40.00 and set an “outperform” rating on the stock in a research report on Monday, February 3rd. MKM Partners cut their target price on shares of Cinemark from $42.00 to $36.00 and set a “buy” rating on the stock in a report on Wednesday. B. Riley downgraded shares of Cinemark from a “buy” rating to a “neutral” rating and reduced their price target for the company from $46.50 to $37.00 in a research report on Friday, November 22nd. Loop Capital decreased their price target on shares of Cinemark to $42.00 and set a “buy” rating for the company in a research note on Friday, January 3rd. Finally, TheStreet downgraded shares of Cinemark from a “b-” rating to a “c+” rating in a research report on Wednesday, November 6th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Cinemark presently has a consensus rating of “Buy” and an average target price of $41.55.
Shares of NYSE CNK opened at $31.02 on Tuesday. The company has a current ratio of 0.93, a quick ratio of 0.90 and a debt-to-equity ratio of 2.09. Cinemark has a twelve month low of $30.59 and a twelve month high of $43.51. The stock has a 50 day moving average of $32.38 and a two-hundred day moving average of $35.67. The stock has a market cap of $3.70 billion, a P/E ratio of 19.63, a P/E/G ratio of 1.02 and a beta of 0.68.
Several large investors have recently made changes to their positions in CNK. Marshall Wace LLP purchased a new stake in shares of Cinemark in the first quarter valued at about $65,000. Amundi Pioneer Asset Management Inc. raised its position in Cinemark by 5.2% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 122,899 shares of the company’s stock worth $4,915,000 after acquiring an additional 6,112 shares in the last quarter. Cerebellum GP LLC purchased a new position in Cinemark in the third quarter worth $118,000. DNB Asset Management AS lifted its holdings in Cinemark by 27.5% in the third quarter. DNB Asset Management AS now owns 912,599 shares of the company’s stock valued at $35,263,000 after acquiring an additional 197,099 shares during the period. Finally, Nisa Investment Advisors LLC lifted its holdings in Cinemark by 63.3% in the third quarter. Nisa Investment Advisors LLC now owns 32,000 shares of the company’s stock valued at $1,236,000 after acquiring an additional 12,400 shares during the period. 99.89% of the stock is owned by institutional investors and hedge funds.
Cinemark Holdings, Inc, together with its subsidiaries, engages in the motion picture exhibition business. As of December 31, 2018, it operated 341 theatres and 4,586 screens in 41 states of the United States; and 205 theatres and 1,462 screens in Brazil, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Bolivia, Curacao, and Paraguay.
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