Research Analysts Set Expectations for Cinemark Holdings, Inc.’s Q3 2024 Earnings (NYSE:CNK)

Cinemark Holdings, Inc. (NYSE:CNK) – Research analysts at Roth Capital increased their Q3 2024 EPS estimates for Cinemark in a research note issued to investors 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 previous estimate of $0.44. 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 FY2025 earnings at $2.10 EPS and FY2026 earnings at $2.86 EPS.

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 business had revenue of $734.20 million during the quarter, compared to the consensus estimate of $691.74 million. Cinemark had a net margin of 5.05% and a return on equity of 41.87%. The business’s quarterly revenue was down 22.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.80 earnings per share.

Several other analysts have also recently issued reports on the company. Barrington Research cut Cinemark from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 28th. JPMorgan Chase & Co. upped their price target on Cinemark from $25.00 to $29.00 and gave the company a “neutral” rating in a research report on Monday. Macquarie boosted their target price on shares of Cinemark from $21.00 to $24.00 and gave the company an “outperform” rating in a research note on Tuesday, July 9th. Morgan Stanley raised their price target on shares of Cinemark from $29.00 to $35.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Finally, B. Riley lowered shares of Cinemark from a “buy” rating to a “neutral” rating and set a $31.00 price objective on the stock. in a research note on Tuesday, August 27th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $28.10.

Cinemark Trading Down 1.3 %

NYSE CNK opened at $28.72 on Monday. The company has a market capitalization of $3.51 billion, a price-to-earnings ratio of 19.81, a price-to-earnings-growth ratio of 1.94 and a beta of 2.36. The company has a debt-to-equity ratio of 6.23, a current ratio of 1.29 and a quick ratio of 1.26. Cinemark has a 12 month low of $13.19 and a 12 month high of $29.87. The company’s fifty day moving average price is $27.64 and its two-hundred day moving average price is $22.26.

Institutional Trading of Cinemark

A number of institutional investors have recently made changes to their positions in CNK. Creative Planning raised its holdings in Cinemark by 74.8% during the third quarter. Creative Planning now owns 20,907 shares of the company’s stock worth $582,000 after purchasing an additional 8,946 shares in the last quarter. Ritholtz Wealth Management bought a new position in Cinemark during the third quarter valued at about $489,000. USA Financial Formulas acquired a new position in Cinemark during the third quarter worth about $77,000. CWM LLC grew its holdings in Cinemark by 134.4% during the third quarter. CWM LLC now owns 2,993 shares of the company’s stock worth $83,000 after acquiring an additional 1,716 shares during the period. Finally, GAMMA Investing LLC lifted its holdings 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.

Insider Buying and Selling

In other Cinemark news, insider Valmir Fernandes sold 25,000 shares of the business’s 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 completion of the transaction, the insider now owns 204,729 shares in the company, valued at approximately $5,566,581.51. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate 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.