FY2024 EPS Estimates for Cinemark Holdings, Inc. (NYSE:CNK) Lifted by Roth Capital

Cinemark Holdings, Inc. (NYSE:CNK) – Equities research analysts at Roth Capital upped their FY2024 earnings per share estimates for Cinemark in a report issued on Thursday, October 10th. Roth Capital analyst E. Handler now anticipates that the company will post earnings of $1.50 per share for the year, up from their prior estimate of $1.33. 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 Q4 2024 earnings at $0.41 EPS.

CNK has been the topic of a number of other research reports. B. Riley lowered Cinemark from a “buy” rating to a “neutral” rating and set a $31.00 target price on the stock. in a report on Tuesday, August 27th. The Goldman Sachs Group boosted their target price on Cinemark from $16.00 to $20.00 and gave the company a “sell” rating in a report on Thursday, September 19th. Wedbush boosted their target price on Cinemark from $28.00 to $31.00 and gave the company an “outperform” rating in a report on Tuesday, September 3rd. JPMorgan Chase & Co. upped their price objective on Cinemark from $22.00 to $25.00 and gave the stock a “neutral” rating in a report on Monday, August 5th. Finally, Roth Mkm upped their price objective on Cinemark from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Cinemark has a consensus rating of “Moderate Buy” and a consensus target price of $27.70.

Cinemark Price Performance

Shares of NYSE CNK opened at $29.68 on Friday. The stock has a market cap of $3.63 billion, a P/E ratio of 20.47, a P/E/G ratio of 1.94 and a beta of 2.36. The company has a current ratio of 1.29, a quick ratio of 1.26 and a debt-to-equity ratio of 6.23. The stock has a 50 day moving average of $27.42 and a two-hundred day moving average of $21.97. Cinemark has a twelve month low of $13.19 and a twelve month high of $29.87.

Cinemark (NYSE:CNK) last issued its quarterly earnings data on Friday, August 2nd. The company reported $0.32 earnings per share for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $691.74 million. During the same quarter in the previous year, the business earned $0.80 earnings per share. The firm’s revenue for the quarter was down 22.1% on a year-over-year basis.

Institutional Trading of Cinemark

Several institutional investors and hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC lifted its position in Cinemark by 106.1% during the third quarter. GAMMA Investing LLC now owns 2,020 shares of the company’s stock worth $56,000 after buying an additional 1,040 shares during the period. Point72 Asia Singapore Pte. Ltd. lifted its position in Cinemark by 38.7% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,145 shares of the company’s stock worth $68,000 after buying an additional 877 shares during the period. USA Financial Formulas purchased a new position in Cinemark during the third quarter worth about $77,000. 1620 Investment Advisors Inc. acquired a new stake in Cinemark during the second quarter worth about $79,000. Finally, CWM LLC increased its stake 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 last quarter.

Insiders Place Their Bets

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 sale, the insider now directly owns 204,729 shares in the company, valued at approximately $5,566,581.51. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.30% of the stock is 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.