Q2 2024 EPS Estimates for Cinemark Holdings, Inc. (NYSE:CNK) Cut by Wedbush

Cinemark Holdings, Inc. (NYSE:CNK) – Wedbush lowered their Q2 2024 EPS estimates for shares of Cinemark in a research note issued on Monday, July 29th. Wedbush analyst A. Reese now forecasts that the company will post earnings of $0.10 per share for the quarter, down from their prior estimate of $0.17. Wedbush has a “Outperform” rating and a $25.00 price objective on the stock. The consensus estimate for Cinemark’s current full-year earnings is $1.08 per share. Wedbush also issued estimates for Cinemark’s FY2024 earnings at $1.37 EPS.

Other research analysts also recently issued research reports about the stock. Barrington Research reissued an “outperform” rating and set a $24.00 price objective on shares of Cinemark in a report on Monday, June 17th. Wells Fargo & Company raised shares of Cinemark from an “underweight” rating to an “overweight” rating and increased their price target for the company from $13.00 to $23.00 in a report on Friday, April 5th. B. Riley raised shares of Cinemark from a “neutral” rating to a “buy” rating and increased their price target for the company from $16.00 to $27.00 in a report on Monday, July 8th. Roth Mkm raised shares of Cinemark from a “neutral” rating to a “buy” rating and increased their price target for the company from $19.00 to $26.00 in a report on Monday, June 24th. Finally, Benchmark reaffirmed a “buy” rating and issued a $23.00 price target on shares of Cinemark in a report on Monday, July 1st. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $22.90.

Cinemark Stock Down 2.1 %

CNK opened at $23.09 on Wednesday. The firm has a 50-day simple moving average of $20.04 and a two-hundred day simple moving average of $17.98. Cinemark has a 52 week low of $13.19 and a 52 week high of $23.86. The company has a market capitalization of $2.83 billion, a PE ratio of 15.92, a price-to-earnings-growth ratio of 2.13 and a beta of 2.36. The company has a quick ratio of 1.45, a current ratio of 1.48 and a debt-to-equity ratio of 7.42.

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

Institutional Investors Weigh In On Cinemark

Several institutional investors have recently bought and sold shares of the company. Rhumbline Advisers lifted its stake in shares of Cinemark by 1.9% during the second quarter. Rhumbline Advisers now owns 311,297 shares of the company’s stock worth $6,730,000 after buying an additional 5,825 shares during the period. Versor Investments LP raised its holdings in shares of Cinemark by 29.0% during the second quarter. Versor Investments LP now owns 23,600 shares of the company’s stock worth $510,000 after purchasing an additional 5,300 shares during the last quarter. Natixis Advisors LLC raised its holdings in shares of Cinemark by 10.7% during the second quarter. Natixis Advisors LLC now owns 20,055 shares of the company’s stock worth $434,000 after purchasing an additional 1,942 shares during the last quarter. First National Bank of Hutchinson raised its holdings in shares of Cinemark by 4.0% during the second quarter. First National Bank of Hutchinson now owns 75,017 shares of the company’s stock worth $1,622,000 after purchasing an additional 2,878 shares during the last quarter. Finally, Louisiana State Employees Retirement System raised its holdings in shares of Cinemark by 2.3% during the second quarter. Louisiana State Employees Retirement System now owns 53,700 shares of the company’s stock worth $1,161,000 after purchasing an additional 1,200 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.