Analysts Issue Forecasts for Cinemark Holdings, Inc.’s Q2 2024 Earnings (NYSE:CNK)

Cinemark Holdings, Inc. (NYSE:CNK) – Wedbush increased their Q2 2024 earnings per share (EPS) estimates for Cinemark in a research report issued to clients and investors on Thursday, April 18th. Wedbush analyst A. Reese now expects that the company will earn $0.44 per share for the quarter, up from their previous forecast of $0.43. Wedbush has a “Outperform” rating and a $23.00 price target 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 equities research analysts also recently commented on the company. Benchmark reissued a “buy” rating and issued a $22.00 target price on shares of Cinemark in a report on Wednesday, April 10th. JPMorgan Chase & Co. upped their price target on Cinemark from $17.00 to $19.00 and gave the company a “neutral” rating in a report on Monday, April 8th. The Goldman Sachs Group lowered their price target on Cinemark from $16.00 to $12.00 and set a “sell” rating on the stock in a report on Thursday, January 11th. Wells Fargo & Company raised Cinemark from an “underweight” rating to an “overweight” rating and upped their price target for the company from $13.00 to $23.00 in a report on Friday, April 5th. Finally, Roth Mkm upped their price target on Cinemark from $17.00 to $19.00 and gave the company a “neutral” rating in a report on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $19.89.

Cinemark Stock Performance

Cinemark stock opened at $18.13 on Friday. The company has a current ratio of 1.45, a quick ratio of 1.42 and a debt-to-equity ratio of 7.73. The business’s fifty day simple moving average is $17.55 and its two-hundred day simple moving average is $15.90. Cinemark has a 12 month low of $13.19 and a 12 month high of $20.40. The company has a market capitalization of $2.20 billion, a price-to-earnings ratio of 14.74, a price-to-earnings-growth ratio of 2.18 and a beta of 2.27.

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

Insider Buying and Selling at Cinemark

In other Cinemark news, insider Wanda Marie Gierhart sold 19,593 shares of the stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $16.75, for a total value of $328,182.75. Following the transaction, the insider now owns 179,591 shares of the company’s stock, valued at $3,008,149.25. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. increased its position in Cinemark by 61.1% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 50,486 shares of the company’s stock worth $872,000 after buying an additional 19,144 shares in the last quarter. Bank of New York Mellon Corp increased its position in Cinemark by 1.0% in the first quarter. Bank of New York Mellon Corp now owns 1,133,373 shares of the company’s stock worth $19,584,000 after buying an additional 11,733 shares in the last quarter. Natixis Advisors L.P. purchased a new stake in Cinemark in the first quarter worth about $247,000. Bank of Montreal Can increased its position in Cinemark by 63.4% in the first quarter. Bank of Montreal Can now owns 52,765 shares of the company’s stock worth $923,000 after buying an additional 20,477 shares in the last quarter. Finally, MetLife Investment Management LLC increased its position in Cinemark by 55.6% in the first quarter. MetLife Investment Management LLC now owns 58,176 shares of the company’s stock worth $1,005,000 after buying an additional 20,792 shares in 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.