Cinemark Holdings, Inc. (NYSE:CNK) to Post Q3 2024 Earnings of $0.61 Per Share, Roth Capital Forecasts

Cinemark Holdings, Inc. (NYSE:CNK) – Analysts at Roth Capital upped their Q3 2024 earnings per share estimates for shares of Cinemark in a research report issued on Thursday, October 10th. Roth Capital analyst E. Handler now forecasts that the company will earn $0.61 per share for the quarter, up from their prior forecast of $0.44. Roth Capital 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 FY2025 earnings at $2.10 EPS and FY2026 earnings at $2.86 EPS.

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

Several other equities analysts also recently issued reports on CNK. Macquarie lifted their price objective on Cinemark from $21.00 to $24.00 and gave the company an “outperform” rating in a research report on Tuesday, July 9th. Morgan Stanley boosted their target price on Cinemark from $29.00 to $35.00 and gave the stock an “overweight” rating in a research report on Friday. The Goldman Sachs Group upped their price objective on Cinemark from $16.00 to $20.00 and gave the company a “sell” rating in a report on Thursday, September 19th. JPMorgan Chase & Co. boosted their target price on Cinemark from $25.00 to $29.00 and gave the company a “neutral” rating in a research note on Monday. Finally, Barrington Research cut Cinemark from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 28th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Cinemark has a consensus rating of “Moderate Buy” and an average target price of $28.10.

Cinemark Trading Down 2.0 %

Shares of CNK opened at $29.09 on Monday. The stock has a fifty day moving average price of $27.59 and a two-hundred day moving average price of $22.19. The company has a debt-to-equity ratio of 6.23, a quick ratio of 1.26 and a current ratio of 1.29. Cinemark has a 52-week low of $13.19 and a 52-week high of $29.87. The company has a market cap of $3.56 billion, a price-to-earnings ratio of 20.06, a PEG ratio of 1.94 and a beta of 2.36.

Institutional Investors Weigh In On Cinemark

Several hedge funds have recently modified their holdings of CNK. GAMMA Investing LLC raised its position in Cinemark by 106.1% during the 3rd quarter. GAMMA Investing LLC now owns 2,020 shares of the company’s stock worth $56,000 after purchasing an additional 1,040 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. increased its position in Cinemark by 38.7% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,145 shares of the company’s stock valued at $68,000 after buying an additional 877 shares in the last quarter. USA Financial Formulas bought a new stake in Cinemark in the 3rd quarter valued at about $77,000. 1620 Investment Advisors Inc. bought a new stake in Cinemark in the 2nd quarter valued at about $79,000. Finally, CWM LLC increased its position in Cinemark by 134.4% in the 3rd quarter. CWM LLC now owns 2,993 shares of the company’s stock valued at $83,000 after buying an additional 1,716 shares in the last quarter.

Insider Buying and Selling

In other Cinemark news, insider Valmir Fernandes sold 25,000 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $27.19, for a total value of $679,750.00. Following the sale, the insider now owns 204,729 shares of the company’s stock, valued at approximately $5,566,581.51. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.30% of the stock is currently owned by company insiders.

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.