Cinemark Holdings, Inc. (NYSE:CNK) Expected to Earn Q2 2024 Earnings of $0.18 Per Share

Cinemark Holdings, Inc. (NYSE:CNK - Free Report) - Stock analysts at Barrington Research dropped their Q2 2024 EPS estimates for Cinemark in a note issued to investors on Monday, May 6th. Barrington Research analyst J. Goss now forecasts that the company will post earnings per share of $0.18 for the quarter, down from their previous estimate of $0.33. Barrington Research has a "Outperform" rating and a $24.00 price target on the stock. The consensus estimate for Cinemark's current full-year earnings is $0.86 per share. Barrington Research also issued estimates for Cinemark's Q4 2024 earnings at $0.23 EPS, Q1 2025 earnings at $0.03 EPS, Q2 2025 earnings at $0.63 EPS and Q4 2025 earnings at $0.20 EPS.

Cinemark (NYSE:CNK - Get Free Report) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.19 EPS for the quarter, beating the consensus estimate of ($0.21) by $0.40. The company had revenue of $579.00 million for the quarter, compared to analyst estimates of $561.91 million. Cinemark had a net margin of 7.12% and a return on equity of 69.48%. The firm's revenue was down 5.2% on a year-over-year basis. During the same quarter last year, the business earned ($0.03) earnings per share.

CNK has been the subject of a number of other research reports. The Goldman Sachs Group cut their target price on shares of Cinemark from $16.00 to $12.00 and set a "sell" rating for the company in a research note on Thursday, January 11th. JPMorgan Chase & Co. boosted their target price on shares of Cinemark from $17.00 to $19.00 and gave the company a "neutral" rating in a report on Monday, April 8th. StockNews.com lowered shares of Cinemark from a "hold" rating to a "sell" rating in a report on Friday, May 3rd. Wedbush reiterated an "outperform" rating and issued a $23.00 target price on shares of Cinemark in a report on Thursday, April 25th. Finally, Wells Fargo & Company upgraded shares of Cinemark from an "underweight" rating to an "overweight" rating and boosted their target price for the company from $13.00 to $23.00 in a report on Friday, April 5th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $20.33.

Cinemark Stock Performance

CNK stock traded down $0.15 during midday trading on Thursday, hitting $17.22. 1,471,340 shares of the stock traded hands, compared to its average volume of 3,049,425. The stock's fifty day simple moving average is $17.94 and its 200-day simple moving average is $15.87. Cinemark has a 1-year low of $13.19 and a 1-year high of $20.40. The firm has a market cap of $2.11 billion, a P/E ratio of 11.90, a PEG ratio of 2.06 and a beta of 2.25. The company has a debt-to-equity ratio of 7.42, a current ratio of 1.48 and a quick ratio of 1.45.

Insider Transactions at Cinemark

In other news, insider Wanda Marie Gierhart sold 19,593 shares of the company's stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $16.75, for a total value of $328,182.75. Following the transaction, the insider now directly owns 179,591 shares in the company, valued at approximately $3,008,149.25. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.30% of the company's stock.

Institutional Investors Weigh In On Cinemark

Hedge funds have recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. lifted its holdings in Cinemark by 30.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 288,058 shares of the company's stock worth $4,059,000 after buying an additional 67,851 shares in the last quarter. Federated Hermes Inc. increased its position in shares of Cinemark by 17.0% in the 4th quarter. Federated Hermes Inc. now owns 696,859 shares of the company's stock valued at $9,819,000 after purchasing an additional 101,272 shares during the last quarter. Louisiana State Employees Retirement System purchased a new stake in shares of Cinemark in the 4th quarter valued at approximately $748,000. Schonfeld Strategic Advisors LLC increased its position in shares of Cinemark by 276.6% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 189,074 shares of the company's stock valued at $3,470,000 after purchasing an additional 138,874 shares during the last quarter. Finally, Illinois Municipal Retirement Fund purchased a new stake in shares of Cinemark in the 4th quarter valued at approximately $901,000.

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.