Q2 2024 Earnings Estimate for Cinemark Holdings, Inc. (NYSE:CNK) Issued By B. Riley

Cinemark Holdings, Inc. (NYSE:CNK) – Research analysts at B. Riley dropped their Q2 2024 EPS estimates for Cinemark in a research note issued to investors on Sunday, July 7th. B. Riley analyst E. Wold now anticipates that the company will post earnings of ($0.03) per share for the quarter, down from their prior forecast of $0.28. B. Riley currently has a “Buy” rating and a $27.00 price target on the stock. The consensus estimate for Cinemark’s current full-year earnings is $1.07 per share. B. Riley also issued estimates for Cinemark’s Q3 2024 earnings at $0.32 EPS, Q4 2024 earnings at $0.26 EPS, FY2024 earnings at $0.75 EPS, Q1 2025 earnings at $0.01 EPS, Q2 2025 earnings at $0.33 EPS, Q3 2025 earnings at $0.57 EPS and FY2025 earnings at $1.49 EPS.

Cinemark (NYSE:CNK) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.40. Cinemark had a net margin of 7.12% and a return on equity of 69.48%. The company had revenue of $579.00 million during the quarter, compared to analyst estimates of $561.91 million. During the same period in the prior year, the business posted ($0.03) EPS. The business’s revenue for the quarter was down 5.2% compared to the same quarter last year.

Several other brokerages have also weighed in on CNK. Wedbush restated an “outperform” rating and issued a $25.00 price objective on shares of Cinemark in a report on Thursday, June 27th. Roth Capital raised shares of Cinemark from a “hold” rating to a “strong-buy” rating in a report on Monday, June 24th. Roth Mkm raised shares of Cinemark from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $19.00 to $26.00 in a research note on Monday, June 24th. Macquarie boosted their target price on shares of Cinemark from $21.00 to $24.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, JPMorgan Chase & Co. raised their target price on shares of Cinemark from $17.00 to $19.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $22.70.

Cinemark Stock Performance

CNK opened at $21.56 on Wednesday. Cinemark has a 1-year low of $13.19 and a 1-year high of $22.19. The company has a market capitalization of $2.64 billion, a price-to-earnings ratio of 14.87, a price-to-earnings-growth ratio of 2.04 and a beta of 2.36. The business has a 50 day moving average price of $18.78 and a two-hundred day moving average price of $17.14. The company has a debt-to-equity ratio of 7.42, a current ratio of 1.48 and a quick ratio of 1.45.

Institutional Investors Weigh In On Cinemark

Hedge funds and other institutional investors have recently made changes to their positions in the company. NBC Securities Inc. grew its stake in shares of Cinemark by 17.2% in the 4th quarter. NBC Securities Inc. now owns 4,764 shares of the company’s stock valued at $67,000 after buying an additional 700 shares in the last quarter. Inspire Advisors LLC acquired a new stake in Cinemark in the first quarter valued at approximately $240,000. Virtu Financial LLC bought a new stake in Cinemark in the fourth quarter worth approximately $192,000. Mackenzie Financial Corp acquired a new position in shares of Cinemark during the 4th quarter worth $210,000. Finally, Everence Capital Management Inc. bought a new position in shares of Cinemark during the 2nd quarter valued at $328,000.

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.