Wedbush Analysts Cut Earnings Estimates for Cinemark Holdings, Inc. (NYSE:CNK)

Cinemark Holdings, Inc. (NYSE:CNKGet Rating) – Investment analysts at Wedbush reduced their Q2 2022 earnings per share estimates for Cinemark in a report released on Tuesday, August 2nd. Wedbush analyst M. Pachter now anticipates that the company will earn $0.19 per share for the quarter, down from their prior estimate of $0.23. Wedbush has a “Outperform” rating and a $22.00 price target on the stock. The consensus estimate for Cinemark’s current full-year earnings is ($0.46) per share. Wedbush also issued estimates for Cinemark’s Q3 2022 earnings at ($0.04) EPS, Q4 2022 earnings at $0.05 EPS, FY2022 earnings at ($0.42) EPS, Q1 2023 earnings at $0.07 EPS, Q4 2023 earnings at $0.24 EPS and FY2023 earnings at $0.91 EPS.

Other equities analysts have also issued reports about the company. StockNews.com lowered Cinemark from a “hold” rating to a “sell” rating in a report on Wednesday, May 4th. Morgan Stanley raised Cinemark from an “equal weight” rating to an “overweight” rating and set a $22.00 price objective for the company in a research note on Tuesday, July 19th. Benchmark set a $27.00 price objective on Cinemark in a research note on Tuesday, July 19th. Finally, B. Riley reduced their price objective on Cinemark from $29.00 to $23.00 and set a “buy” rating for the company in a research note on Tuesday, June 21st. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Cinemark presently has a consensus rating of “Hold” and a consensus target price of $22.08.

Cinemark Stock Down 13.4 %

Shares of Cinemark stock opened at $16.75 on Thursday. The company has a current ratio of 1.11, a quick ratio of 1.09 and a debt-to-equity ratio of 8.60. The business’s 50 day simple moving average is $16.44 and its 200-day simple moving average is $16.38. The stock has a market capitalization of $2.02 billion, a price-to-earnings ratio of -6.95 and a beta of 2.15. Cinemark has a twelve month low of $13.37 and a twelve month high of $23.15.

Cinemark (NYSE:CNKGet Rating) last announced its quarterly earnings data on Friday, May 6th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.61) by ($0.01). The firm had revenue of $460.50 million for the quarter, compared to analyst estimates of $454.52 million. Cinemark had a negative net margin of 15.54% and a negative return on equity of 85.71%. The company’s quarterly revenue was up 302.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($1.75) EPS.

Institutional Investors Weigh In On Cinemark

A number of institutional investors have recently added to or reduced their stakes in the company. Elequin Capital LP bought a new stake in shares of Cinemark during the first quarter worth $25,000. Point72 Hong Kong Ltd acquired a new position in Cinemark in the fourth quarter valued at about $32,000. Herold Advisors Inc. acquired a new position in Cinemark in the first quarter valued at about $35,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in Cinemark in the fourth quarter valued at about $37,000. Finally, GHP Investment Advisors Inc. acquired a new position in Cinemark in the first quarter valued at about $89,000. 93.02% of the stock is owned by institutional investors and hedge funds.

Cinemark Company Profile

(Get Rating)

Cinemark Holdings, Inc, together with its subsidiaries, engages in the motion picture exhibition business. As of June 30, 2022, it operated 522 theatres with 5,868 screens in the United States, and South and Central America. The company was founded in 1984 and is headquartered in Plano, Texas.

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Earnings History and Estimates for Cinemark (NYSE:CNK)

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