Wedbush Analysts Boost Earnings Estimates for Cinemark

Cinemark Holdings, Inc. (NYSE:CNK) – Wedbush upped their Q3 2024 earnings per share estimates for shares of Cinemark in a research note issued to investors on Tuesday, October 29th. Wedbush analyst A. Reese now expects that the company will earn $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 announced its earnings results on Friday, August 2nd. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.25. The firm had revenue of $734.20 million for the quarter, compared to analyst estimates of $691.74 million. Cinemark had a return on equity of 41.87% and a net margin of 5.05%. The business’s revenue was down 22.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.80 EPS.

A number of other research firms have also recently commented on CNK. Barrington Research raised shares of Cinemark from a “market perform” rating to an “outperform” rating and set a $36.00 target price for the company in a research note on Thursday. StockNews.com lowered Cinemark from a “hold” rating to a “sell” rating in a research note on Thursday, October 24th. JPMorgan Chase & Co. raised their target price on Cinemark from $25.00 to $29.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. B. Riley lowered Cinemark from a “buy” rating to a “neutral” rating and set a $31.00 price target on the stock. in a research note on Tuesday, August 27th. Finally, Wells Fargo & Company increased their price objective on Cinemark from $28.00 to $31.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.40.

Cinemark Stock Performance

NYSE:CNK opened at $29.78 on Wednesday. The company has a debt-to-equity ratio of 6.23, a quick ratio of 1.26 and a current ratio of 1.29. The stock has a market capitalization of $3.64 billion, a PE ratio of 30.80, a P/E/G ratio of 1.94 and a beta of 2.36. Cinemark has a fifty-two week low of $13.19 and a fifty-two week high of $31.09. The company has a fifty day moving average of $28.15 and a two-hundred day moving average of $23.03.

Insider Activity at Cinemark

In other Cinemark news, insider Valmir Fernandes sold 25,000 shares of Cinemark stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $27.19, for a total transaction of $679,750.00. Following the transaction, the insider now directly owns 204,729 shares of the company’s stock, valued at $5,566,581.51. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Cinemark

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Principal Financial Group Inc. grew its holdings in shares of Cinemark by 18.8% during the 3rd quarter. Principal Financial Group Inc. now owns 629,782 shares of the company’s stock worth $17,533,000 after purchasing an additional 99,843 shares during the period. Assenagon Asset Management S.A. purchased a new position in Cinemark during the third quarter worth about $12,133,000. International Assets Investment Management LLC acquired a new stake in shares of Cinemark during the third quarter valued at about $9,530,000. Friedenthal Financial purchased a new stake in shares of Cinemark in the 3rd quarter valued at approximately $777,000. Finally, Creative Planning lifted its holdings in shares of Cinemark by 74.8% in the 3rd quarter. Creative Planning now owns 20,907 shares of the company’s stock worth $582,000 after acquiring an additional 8,946 shares during the last quarter.

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.