Equities Analysts Offer Predictions for Cinemark Holdings, Inc.’s Q2 2024 Earnings (NYSE:CNK)

Cinemark Holdings, Inc. (NYSE:CNK) – Stock analysts at B. Riley cut their Q2 2024 earnings per share estimates for shares of Cinemark in a research report issued to clients and investors on Sunday, July 7th. B. Riley analyst E. Wold now forecasts that the company will post earnings of ($0.03) per share for the quarter, down from their prior estimate of $0.28. B. Riley has a “Buy” rating and a $27.00 price objective on the stock. The consensus estimate for Cinemark’s current full-year earnings is $1.07 per share. B. Riley also issued estimates for Cinemark’s Q3 2024 earnings at $0.32 EPS, Q4 2024 earnings at $0.26 EPS, FY2024 earnings at $0.75 EPS, Q1 2025 earnings at $0.01 EPS, Q2 2025 earnings at $0.33 EPS, Q3 2025 earnings at $0.57 EPS and FY2025 earnings at $1.49 EPS.

Cinemark (NYSE:CNK) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.40. Cinemark had a return on equity of 69.48% and a net margin of 7.12%. The company had revenue of $579.00 million for the quarter, compared to the consensus estimate of $561.91 million. During the same quarter in the previous year, the business earned ($0.03) EPS. The company’s quarterly revenue was down 5.2% compared to the same quarter last year.

Other analysts also recently issued research reports about the company. Wells Fargo & Company raised Cinemark from an “underweight” rating to an “overweight” rating and boosted their price objective for the stock from $13.00 to $23.00 in a research note on Friday, April 5th. Macquarie boosted their target price on Cinemark from $21.00 to $24.00 and gave the stock an “outperform” rating in a research report on Tuesday. Barrington Research reaffirmed an “outperform” rating and set a $24.00 target price on shares of Cinemark in a research report on Monday, June 17th. Roth Mkm raised Cinemark from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $19.00 to $26.00 in a research report on Monday, June 24th. Finally, JPMorgan Chase & Co. boosted their target price on Cinemark from $17.00 to $19.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Two research analysts have rated the stock with a sell rating, one has given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.70.

Cinemark Stock Down 0.8 %

CNK opened at $21.50 on Wednesday. Cinemark has a one year low of $13.19 and a one year high of $22.19. The company has a debt-to-equity ratio of 7.42, a quick ratio of 1.45 and a current ratio of 1.48. The stock’s fifty day moving average is $18.70 and its 200-day moving average is $17.11. The company has a market capitalization of $2.63 billion, a PE ratio of 14.83, a P/E/G ratio of 2.04 and a beta of 2.36.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CNK. Everence Capital Management Inc. purchased a new position in Cinemark in the second quarter valued at about $328,000. Nut Tree Capital Management LP bought a new stake in shares of Cinemark during the 1st quarter worth about $13,250,000. Comerica Bank boosted its stake in shares of Cinemark by 36.4% during the 1st quarter. Comerica Bank now owns 68,261 shares of the company’s stock worth $1,227,000 after acquiring an additional 18,198 shares in the last quarter. Jericho Capital Asset Management L.P. bought a new stake in shares of Cinemark during the 1st quarter worth about $15,975,000. Finally, Kodai Capital Management LP boosted its stake in shares of Cinemark by 31.7% during the 1st quarter. Kodai Capital Management LP now owns 373,370 shares of the company’s stock worth $6,709,000 after acquiring an additional 89,875 shares in the last quarter.

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.