FY2024 EPS Estimates for Cinemark Holdings, Inc. Boosted by Analyst (NYSE:CNK)

Cinemark Holdings, Inc. (NYSE:CNK) – Equities research analysts at Roth Capital raised their FY2024 earnings per share (EPS) estimates for Cinemark in a report issued on Thursday, October 10th. Roth Capital analyst E. Handler now forecasts that the company will post earnings per share of $1.50 for the year, up from their previous forecast of $1.33. Roth Capital currently has a “Strong-Buy” rating on the stock. The consensus estimate for Cinemark’s current full-year earnings is $1.41 per share. Roth Capital also issued estimates for Cinemark’s Q4 2024 earnings at $0.41 EPS.

A number of other brokerages have also commented on CNK. B. Riley lowered shares of Cinemark from a “buy” rating to a “neutral” rating and set a $31.00 price target for the company. in a research note on Tuesday, August 27th. JPMorgan Chase & Co. boosted their target price on shares of Cinemark from $22.00 to $25.00 and gave the company a “neutral” rating in a research note on Monday, August 5th. StockNews.com upgraded Cinemark from a “sell” rating to a “hold” rating in a research note on Monday, October 7th. Barrington Research cut Cinemark from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 28th. Finally, Wells Fargo & Company raised their target price on Cinemark from $28.00 to $31.00 and gave the stock an “overweight” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Cinemark has a consensus rating of “Moderate Buy” and an average target price of $27.70.

Cinemark Trading Up 3.7 %

Shares of NYSE:CNK opened at $29.68 on Friday. Cinemark has a 1 year low of $13.19 and a 1 year high of $29.87. The stock’s fifty day moving average price is $27.52 and its 200-day moving average price is $22.05. The company has a debt-to-equity ratio of 6.23, a current ratio of 1.29 and a quick ratio of 1.26. The company has a market cap of $3.63 billion, a P/E ratio of 20.47, a PEG ratio of 1.94 and a beta of 2.36.

Cinemark (NYSE:CNK) last announced its quarterly earnings data on Friday, August 2nd. The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.25. Cinemark had a net margin of 5.05% and a return on equity of 41.87%. The company had revenue of $734.20 million during the quarter, compared to analyst estimates of $691.74 million. During the same period in the previous year, the business earned $0.80 EPS. The firm’s revenue for the quarter was down 22.1% on a year-over-year basis.

Institutional Investors Weigh In On Cinemark

Large investors have recently made changes to their positions in the company. Park West Asset Management LLC raised its stake in Cinemark by 34.3% during the fourth quarter. Park West Asset Management LLC now owns 1,175,000 shares of the company’s stock valued at $16,556,000 after purchasing an additional 300,000 shares in the last quarter. Sei Investments Co. grew its position in Cinemark by 38.1% in the first quarter. Sei Investments Co. now owns 115,124 shares of the company’s stock worth $2,069,000 after acquiring an additional 31,739 shares in the last quarter. Peconic Partners LLC increased its stake in Cinemark by 66.7% during the fourth quarter. Peconic Partners LLC now owns 500,000 shares of the company’s stock worth $7,045,000 after acquiring an additional 200,000 shares during the last quarter. Hennessy Advisors Inc. raised its position in Cinemark by 14.1% during the first quarter. Hennessy Advisors Inc. now owns 1,295,800 shares of the company’s stock valued at $23,286,000 after purchasing an additional 160,200 shares during the period. Finally, PEAK6 Investments LLC bought a new stake in shares of Cinemark in the 1st quarter valued at approximately $2,274,000.

Insider Activity

In other news, insider Valmir Fernandes sold 25,000 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $27.19, for a total value of $679,750.00. Following the transaction, the insider now directly owns 204,729 shares in the company, valued at $5,566,581.51. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.30% of the company’s stock.

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.