Wedbush Issues Optimistic Outlook for Cinemark Earnings

Cinemark Holdings, Inc. (NYSE:CNK) – Equities research analysts at Wedbush boosted their Q3 2024 EPS estimates for Cinemark in a report issued on Tuesday, October 29th. Wedbush analyst A. Reese now forecasts that the company will post earnings of $0.58 per share for the quarter, up from their previous forecast of $0.48. Wedbush has a “Outperform” rating and a $32.00 price objective 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 issued its earnings results on Friday, August 2nd. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.25. The company had revenue of $734.20 million during the quarter, compared to analysts’ expectations of $691.74 million. Cinemark had a return on equity of 41.87% and a net margin of 5.05%. Cinemark’s quarterly revenue was down 22.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.80 EPS.

Several other brokerages have also recently weighed in on CNK. Macquarie increased their price target on shares of Cinemark from $21.00 to $24.00 and gave the company an “outperform” rating in a research report on Tuesday, July 9th. Wells Fargo & Company increased their target price on shares of Cinemark from $28.00 to $31.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Barrington Research downgraded Cinemark from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 28th. StockNews.com lowered Cinemark from a “hold” rating to a “sell” rating in a research report on Thursday, October 24th. Finally, Roth Mkm lifted their price objective on Cinemark from $30.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Two analysts have rated the stock with a sell rating, three have issued 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 company presently has a consensus rating of “Moderate Buy” and an average target price of $28.20.

Cinemark Stock Performance

NYSE:CNK opened at $29.67 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. Cinemark has a fifty-two week low of $13.19 and a fifty-two week high of $30.10. The firm has a market cap of $3.63 billion, a PE ratio of 20.54, a price-to-earnings-growth ratio of 1.94 and a beta of 2.36. The business has a 50 day moving average price of $28.04 and a 200-day moving average price of $22.89.

Insider Buying and Selling at Cinemark

In related news, insider Valmir Fernandes sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $27.19, for a total value of $679,750.00. Following the sale, the insider now owns 204,729 shares in the company, valued at $5,566,581.51. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 2.30% of the company’s stock.

Institutional Trading of Cinemark

Several institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC raised its holdings in Cinemark by 106.1% in 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 last quarter. Point72 Asia Singapore Pte. Ltd. raised its holdings in Cinemark by 38.7% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,145 shares of the company’s stock worth $68,000 after acquiring an additional 877 shares during the last quarter. USA Financial Formulas bought a new position in Cinemark in the 3rd quarter valued at approximately $77,000. 1620 Investment Advisors Inc. bought a new position in Cinemark in the 2nd quarter valued at approximately $79,000. Finally, CWM LLC boosted its stake in Cinemark by 134.4% during the 3rd quarter. CWM LLC now owns 2,993 shares of the company’s stock valued at $83,000 after purchasing an additional 1,716 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.