Brokers Set Expectations for Cinemark Holdings, Inc.’s FY2024 Earnings (NYSE:CNK)

Cinemark Holdings, Inc. (NYSE:CNK) – Investment analysts at B. Riley upped their FY2024 earnings per share estimates for shares of Cinemark in a research note issued to investors on Thursday, October 3rd. B. Riley analyst E. Wold now anticipates that the company will earn $1.40 per share for the year, up from their previous estimate of $1.21. B. Riley has a “Neutral” rating and a $31.00 price target on the stock. The consensus estimate for Cinemark’s current full-year earnings is $1.33 per share. B. Riley also issued estimates for Cinemark’s Q4 2024 earnings at $0.36 EPS, Q2 2025 earnings at $0.51 EPS, Q4 2025 earnings at $0.69 EPS and FY2025 earnings at $1.70 EPS.

Several other analysts also recently weighed in on CNK. Barrington Research downgraded Cinemark from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 28th. StockNews.com downgraded Cinemark from a “hold” rating to a “sell” rating in a research note on Tuesday, August 13th. Wedbush raised their target price on Cinemark from $28.00 to $31.00 and gave the company an “outperform” rating in a research note on Tuesday, September 3rd. Roth Mkm raised their target price on Cinemark from $28.00 to $30.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Finally, Macquarie lifted their price target on Cinemark from $21.00 to $24.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 9th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $26.00.

Cinemark Stock Down 2.4 %

Shares of Cinemark stock opened at $26.69 on Friday. The business has a 50-day moving average of $26.97 and a 200-day moving average of $21.64. 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 capitalization of $3.27 billion, a PE ratio of 18.41, a P/E/G ratio of 2.07 and a beta of 2.36. Cinemark has a 1-year low of $13.19 and a 1-year high of $29.07.

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

Insiders Place Their Bets

In other Cinemark news, insider Valmir Fernandes sold 25,000 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $27.19, for a total value of $679,750.00. Following the transaction, the insider now owns 204,729 shares of the company’s stock, valued at $5,566,581.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Cinemark

Hedge funds have recently made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. raised its holdings in shares of Cinemark by 38.7% during the second 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 during the last quarter. 1620 Investment Advisors Inc. bought a new stake in Cinemark during the second quarter worth approximately $79,000. Fifth Third Bancorp raised its holdings in Cinemark by 414.4% during the second quarter. Fifth Third Bancorp now owns 4,480 shares of the company’s stock worth $97,000 after purchasing an additional 3,609 shares in the last quarter. Point72 DIFC Ltd bought a new stake in Cinemark during the second quarter worth approximately $144,000. Finally, Virtu Financial LLC bought a new stake in Cinemark during the fourth quarter worth approximately $192,000.

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.