Wedbush Weighs in on Cinemark Holdings, Inc.’s Q3 2024 Earnings (NYSE:CNK)

Cinemark Holdings, Inc. (NYSE:CNK) – Analysts at Wedbush upped their Q3 2024 earnings per share estimates for Cinemark in a report released on Friday, August 2nd. Wedbush analyst A. Reese now expects that the company will earn $0.54 per share for the quarter, up from their prior forecast of $0.53. Wedbush has a “Outperform” rating and a $25.00 price target 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 Q4 2024 earnings at $0.60 EPS, Q2 2025 earnings at $0.73 EPS, Q3 2025 earnings at $0.58 EPS, FY2025 earnings at $1.90 EPS and FY2026 earnings at $2.19 EPS.

Cinemark (NYSE:CNK) last issued its quarterly earnings data on Friday, August 2nd. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.25. Cinemark had a return on equity of 69.48% and a net margin of 7.12%. The company had revenue of $734.20 million during the quarter, compared to the consensus estimate of $691.74 million. During the same period last year, the company earned $0.80 earnings per share. The firm’s revenue was down 22.1% compared to the same quarter last year.

Several other research firms have also recently commented on CNK. Barrington Research reaffirmed an “outperform” rating and set a $24.00 target price on shares of Cinemark in a research note on Friday, August 2nd. Roth Mkm raised their price objective on shares of Cinemark from $28.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday. Benchmark reissued a “buy” rating and set a $23.00 target price on shares of Cinemark in a research note on Monday, July 1st. JPMorgan Chase & Co. lifted their price target on shares of Cinemark from $22.00 to $25.00 and gave the company a “neutral” rating in a research note on Monday. Finally, Macquarie upped their price objective on shares of Cinemark from $21.00 to $24.00 and gave the company an “outperform” rating in a report on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $24.60.

Cinemark Stock Up 3.1 %

Cinemark stock opened at $26.20 on Monday. The firm has a market cap of $3.21 billion, a price-to-earnings ratio of 18.07, a PEG ratio of 2.14 and a beta of 2.36. Cinemark has a 52-week low of $13.19 and a 52-week high of $26.43. The company has a debt-to-equity ratio of 7.42, a quick ratio of 1.45 and a current ratio of 1.48. The firm has a 50 day moving average price of $20.33 and a two-hundred day moving average price of $18.20.

Hedge Funds Weigh In On Cinemark

A number of hedge funds and other institutional investors have recently modified their holdings of CNK. Third Point LLC bought a new stake in Cinemark during the first quarter worth $89,850,000. Dimensional Fund Advisors LP raised its stake in shares of Cinemark by 9.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,568,871 shares of the company’s stock worth $36,195,000 after purchasing an additional 213,593 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Cinemark by 1.4% in the 2nd quarter. Victory Capital Management Inc. now owns 2,550,819 shares of the company’s stock worth $55,149,000 after buying an additional 35,993 shares during the last quarter. Steadfast Capital Management LP purchased a new stake in Cinemark during the first quarter worth about $29,323,000. Finally, Hennessy Advisors Inc. increased its stake in shares of Cinemark by 18.1% during the 2nd quarter. Hennessy Advisors Inc. now owns 1,530,200 shares of the company’s stock worth $33,083,000 after purchasing an additional 234,400 shares during the last quarter.

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.