Roth Capital Estimates Cinemark’s FY2024 Earnings (NYSE:CNK)

Cinemark Holdings, Inc. (NYSE:CNK) – Analysts at Roth Capital upped their FY2024 earnings estimates for Cinemark in a report released on Wednesday, January 22nd. Roth Capital analyst E. Handler now expects that the company will earn $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.

Several other equities research analysts have also issued reports on the stock. Barrington Research raised shares of Cinemark from a “market perform” rating to an “outperform” rating and set a $36.00 price target on the stock in a report on Thursday, October 31st. StockNews.com upgraded shares of Cinemark from a “sell” rating to a “hold” rating in a research note on Sunday, November 10th. Macquarie upped their price objective on Cinemark from $32.00 to $34.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Benchmark restated a “buy” rating and set a $40.00 target price on shares of Cinemark in a research report on Friday, January 10th. Finally, Morgan Stanley upped their price target on Cinemark from $29.00 to $35.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $32.80.

Cinemark Stock Up 1.7 %

CNK opened at $29.31 on Thursday. The business has a 50 day moving average of $31.81 and a 200-day moving average of $28.59. The stock has a market capitalization of $3.59 billion, a price-to-earnings ratio of 18.91 and a beta of 2.40. The company has a current ratio of 0.98, a quick ratio of 0.96 and a debt-to-equity ratio of 3.46. Cinemark has a 1-year low of $13.45 and a 1-year high of $36.28.

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

Institutional Investors Weigh In On Cinemark

A number of institutional investors and hedge funds have recently modified their holdings of CNK. Quarry LP grew its stake in 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 during the last quarter. GAMMA Investing LLC grew its position in shares of Cinemark by 106.1% in the third 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 bought a new position in shares of Cinemark during the fourth quarter worth approximately $63,000. Point72 Asia Singapore Pte. Ltd. lifted its holdings in Cinemark by 38.7% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,145 shares of the company’s stock worth $68,000 after purchasing an additional 877 shares during the last quarter. Finally, USA Financial Formulas bought a new stake in Cinemark in the 3rd quarter valued at $77,000.

Insider Activity

In related news, insider Valmir Fernandes sold 25,000 shares of the company’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $32.68, for a total transaction of $817,000.00. Following the sale, the insider now owns 179,729 shares in the company, valued at approximately $5,873,543.72. This represents a 12.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.30% of the stock is owned by corporate 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.