Cinemark Holdings, Inc. (NYSE:CNK - Free Report) - Investment analysts at Wedbush upped their Q2 2024 earnings per share (EPS) estimates for shares of Cinemark in a report issued 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 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.
Cinemark (NYSE:CNK - Get Free Report) last announced its earnings results on Friday, February 16th. The company reported ($0.15) EPS for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.08). Cinemark had a return on equity of 72.91% and a net margin of 6.14%. The company had revenue of $638.90 million during the quarter, compared to the consensus estimate of $619.67 million. During the same period in the prior year, the business posted ($0.82) earnings per share. Cinemark's revenue for the quarter was up 6.5% compared to the same quarter last year.
A number of other equities analysts have also recently commented on CNK. Benchmark reaffirmed a "buy" rating and issued a $22.00 target price on shares of Cinemark in a report on Wednesday, April 10th. The Goldman Sachs Group decreased their target price 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 raised their target price for the stock from $13.00 to $23.00 in a report on Friday, April 5th. B. Riley cut Cinemark from a "buy" rating to a "neutral" rating and decreased their price target for the company from $23.00 to $15.00 in a report on Tuesday, January 2nd. Finally, Roth Mkm raised 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 research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $19.89.
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Cinemark Stock Performance
Cinemark stock traded up $0.10 during trading on Friday, reaching $18.22. The company had a trading volume of 2,461,901 shares, compared to its average volume of 3,118,683. Cinemark has a 52 week low of $13.19 and a 52 week high of $20.40. The firm's 50-day simple moving average is $17.61 and its 200 day simple moving average is $15.90. The firm has a market capitalization of $2.22 billion, a price-to-earnings ratio of 14.81, a price-to-earnings-growth ratio of 2.18 and a beta of 2.27. The company has a current ratio of 1.45, a quick ratio of 1.42 and a debt-to-equity ratio of 7.73.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the company. VitalStone Financial LLC purchased a new position in shares of Cinemark during the first quarter valued at about $27,000. Tower Research Capital LLC TRC grew its position in Cinemark by 38.8% in the first quarter. Tower Research Capital LLC TRC now owns 2,680 shares of the company's stock worth $39,000 after acquiring an additional 749 shares in the last quarter. Coppell Advisory Solutions LLC purchased a new position in Cinemark in the second quarter worth about $48,000. State of Wyoming purchased a new position in Cinemark in the second quarter worth about $55,000. Finally, NBC Securities Inc. purchased a new position in Cinemark in the third quarter worth about $74,000.
Insider Activity
In other news, insider Wanda Marie Gierhart sold 19,593 shares of the firm's stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $16.75, for a total transaction of $328,182.75. Following the completion of the transaction, the insider now owns 179,591 shares in the company, valued at $3,008,149.25. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 2.30% of the company's stock.
Cinemark Company Profile
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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.
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