Wedbush Brokers Increase Earnings Estimates for Cinemark

Cinemark Holdings, Inc. (NYSE:CNK) – Investment analysts at Wedbush upped their Q3 2024 earnings per share estimates for shares of Cinemark in a research report issued on Tuesday, October 29th. Wedbush analyst A. Reese now forecasts that the company will post earnings of $0.58 per share for the quarter, up from their prior estimate of $0.48. Wedbush has a “Outperform” rating and a $32.00 price target on the stock. The consensus estimate for Cinemark’s current full-year earnings is $1.41 per share. Wedbush also issued estimates for Cinemark’s Q4 2024 earnings at $0.45 EPS, Q3 2025 earnings at $0.65 EPS and Q4 2025 earnings at $0.69 EPS.

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

Several other analysts have also recently issued reports on CNK. JPMorgan Chase & Co. upped their price objective on Cinemark from $25.00 to $29.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. The Goldman Sachs Group upped their price objective on Cinemark from $16.00 to $20.00 and gave the stock a “sell” rating in a report on Thursday, September 19th. B. Riley cut Cinemark from a “buy” rating to a “neutral” rating and set a $31.00 price objective on the stock. in a report on Tuesday, August 27th. Barrington Research cut Cinemark from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 28th. Finally, StockNews.com cut Cinemark from a “hold” rating to a “sell” rating in a report on Thursday, October 24th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $28.20.

Cinemark Stock Up 2.7 %

NYSE CNK opened at $30.47 on Wednesday. The stock’s 50 day moving average is $28.09 and its 200 day moving average is $22.97. The company has a current ratio of 1.29, a quick ratio of 1.26 and a debt-to-equity ratio of 6.23. Cinemark has a 12 month low of $13.19 and a 12 month high of $30.69. The stock has a market cap of $3.73 billion, a PE ratio of 20.46, a P/E/G ratio of 1.94 and a beta of 2.36.

Hedge Funds Weigh In On Cinemark

Hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC grew its position in Cinemark by 106.1% in the 3rd quarter. GAMMA Investing LLC now owns 2,020 shares of the company’s stock valued at $56,000 after acquiring an additional 1,040 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. grew 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 acquiring an additional 877 shares during the last quarter. USA Financial Formulas bought a new position in Cinemark in the 3rd quarter valued at $77,000. 1620 Investment Advisors Inc. bought a new position in Cinemark in the 2nd quarter valued at $79,000. Finally, CWM LLC grew 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 acquiring an additional 1,716 shares during the last quarter.

Insider Activity at Cinemark

In related news, insider Valmir Fernandes sold 25,000 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $27.19, for a total transaction of $679,750.00. Following the sale, the insider now owns 204,729 shares in the company, valued at approximately $5,566,581.51. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.30% of the stock is currently owned by 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.