FY2024 Earnings Forecast for Cinemark Issued By Roth Capital

Cinemark Holdings, Inc. (NYSE:CNK) – Equities research analysts at Roth Capital increased their FY2024 EPS estimates for Cinemark in a report released on Wednesday, January 22nd. Roth Capital analyst E. Handler now expects that the company will post earnings of $2.05 per share for the year, up from their prior forecast of $2.02. The consensus estimate for Cinemark’s current full-year earnings is $2.05 per share. Roth Capital also issued estimates for Cinemark’s Q1 2025 earnings at $0.04 EPS, Q2 2025 earnings at $0.86 EPS, Q3 2025 earnings at $0.83 EPS, Q4 2025 earnings at $0.57 EPS, FY2025 earnings at $2.29 EPS and FY2026 earnings at $3.03 EPS.

Cinemark (NYSE:CNK) last issued its earnings results on Thursday, October 31st. The company reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.61. The firm had revenue of $921.80 million during the quarter, compared to analyst estimates of $894.90 million. Cinemark had a net margin of 8.36% and a return on equity of 60.21%. The business’s revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.61 earnings per share.

A number of other analysts have also issued reports on the stock. Wedbush lowered shares of Cinemark from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 1st. Benchmark reissued a “buy” rating and set a $40.00 target price on shares of Cinemark in a research note on Friday, January 10th. Wells Fargo & Company boosted their target price on shares of Cinemark from $35.00 to $38.00 and gave the company an “overweight” rating in a research note on Wednesday, November 27th. JPMorgan Chase & Co. increased their target price on shares of Cinemark from $25.00 to $29.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Finally, Barrington Research upgraded shares of Cinemark from a “market perform” rating to an “outperform” rating and set a $36.00 target price on the stock in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Cinemark presently has a consensus rating of “Moderate Buy” and an average price target of $32.80.

Cinemark Stock Up 0.5 %

Shares of CNK opened at $29.46 on Thursday. The firm has a market capitalization of $3.61 billion, a P/E ratio of 19.01 and a beta of 2.40. Cinemark has a 12-month low of $13.45 and a 12-month high of $36.28. The company has a current ratio of 0.98, a quick ratio of 0.96 and a debt-to-equity ratio of 3.46. The firm has a fifty day moving average price of $31.76 and a 200-day moving average price of $28.59.

Institutional Trading of Cinemark

Institutional investors have recently modified their holdings of the company. Quarry LP boosted its holdings in shares of Cinemark by 714.8% in the 3rd quarter. Quarry LP now owns 1,491 shares of the company’s stock valued at $42,000 after buying an additional 1,308 shares in the last quarter. GAMMA Investing LLC raised its position in shares of 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 purchasing an additional 1,040 shares during the last quarter. R Squared Ltd purchased a new position in shares of Cinemark in the 4th quarter valued at approximately $63,000. Point72 Asia Singapore Pte. Ltd. raised its position in shares of Cinemark by 38.7% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,145 shares of the company’s stock valued at $68,000 after purchasing an additional 877 shares during the last quarter. Finally, USA Financial Formulas purchased a new position in shares of Cinemark in the 3rd quarter valued at approximately $77,000.

Insider Activity

In other news, insider Valmir Fernandes sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $32.68, for a total value of $817,000.00. Following the sale, the insider now directly owns 179,729 shares in the company, valued at approximately $5,873,543.72. This trade represents a 12.21 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company 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.