Wedbush Brokers Boost Earnings Estimates for Cinemark Holdings, Inc. (NYSE:CNK)

Cinemark Holdings, Inc. (NYSE:CNK) – Investment analysts at Wedbush boosted their Q3 2024 earnings per share estimates for shares of Cinemark in a report released on Friday, June 21st. Wedbush analyst A. Reese now expects that the company will post earnings per share of $0.53 for the quarter, up from their prior estimate of $0.52. Wedbush currently has a “Outperform” rating and a $25.00 price objective on the stock. The consensus estimate for Cinemark’s current full-year earnings is $1.10 per share. Wedbush also issued estimates for Cinemark’s Q4 2024 earnings at $0.57 EPS, Q4 2025 earnings at $0.67 EPS and FY2025 earnings at $1.78 EPS.

Cinemark (NYSE:CNK) last released its quarterly earnings data on Thursday, May 2nd. The company reported $0.19 EPS for the quarter, topping the consensus estimate of ($0.21) by $0.40. The company had revenue of $579.00 million during the quarter, compared to the consensus estimate of $561.91 million. Cinemark had a return on equity of 69.48% and a net margin of 7.12%. Cinemark’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same period last year, the company earned ($0.03) EPS.

A number of other equities research analysts also recently commented on CNK. Roth Mkm lifted their target price on shares of Cinemark from $17.00 to $19.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 10th. B. Riley lifted their price objective on Cinemark from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. Wells Fargo & Company raised Cinemark from an “underweight” rating to an “overweight” rating and increased their target price for the company from $13.00 to $23.00 in a report on Friday, April 5th. Barrington Research restated an “outperform” rating and set a $24.00 price target on shares of Cinemark in a research note on Monday, June 17th. Finally, JPMorgan Chase & Co. upped their price target on shares of Cinemark from $17.00 to $19.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $20.56.

Cinemark Stock Up 0.5 %

CNK opened at $19.48 on Monday. The stock has a market capitalization of $2.38 billion, a price-to-earnings ratio of 13.43, a PEG ratio of 1.77 and a beta of 2.27. The firm has a 50 day moving average price of $17.75 and a 200-day moving average price of $16.52. Cinemark has a twelve month low of $13.19 and a twelve month high of $20.40. The company has a quick ratio of 1.45, a current ratio of 1.48 and a debt-to-equity ratio of 7.42.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. NBC Securities Inc. boosted its position in shares of Cinemark by 17.2% in the fourth quarter. NBC Securities Inc. now owns 4,764 shares of the company’s stock worth $67,000 after purchasing an additional 700 shares during the period. Virtu Financial LLC bought a new position in Cinemark in the 4th quarter worth $192,000. DekaBank Deutsche Girozentrale purchased a new stake in Cinemark in the 3rd quarter worth $193,000. Mackenzie Financial Corp bought a new stake in Cinemark during the fourth quarter valued at about $210,000. Finally, Watershed Asset Management L.L.C. lifted its position in shares of Cinemark by 6.2% in the fourth quarter. Watershed Asset Management L.L.C. now owns 15,658 shares of the company’s stock valued at $221,000 after acquiring an additional 915 shares in the last quarter.

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.