Cinemark Holdings, Inc. (NYSE:CNK) to Post Q2 2024 Earnings of ($0.03) Per Share, B. Riley Forecasts

Cinemark Holdings, Inc. (NYSE:CNK) – Equities researchers at B. Riley lowered their Q2 2024 earnings estimates for shares of Cinemark in a research note issued on Sunday, July 7th. B. Riley analyst E. Wold now anticipates that the company will earn ($0.03) per share for the quarter, down from their prior forecast of $0.28. B. Riley has a “Buy” rating and a $27.00 price objective 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.

CNK has been the topic of a number of other research reports. Barrington Research reissued an “outperform” rating and set a $24.00 target price on shares of Cinemark in a research report on Monday, June 17th. Roth Mkm raised shares of Cinemark from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $19.00 to $26.00 in a report on Monday, June 24th. Benchmark reissued a “buy” rating and issued a $23.00 price objective on shares of Cinemark in a research note on Monday, July 1st. JPMorgan Chase & Co. increased their target price on Cinemark from $17.00 to $19.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Finally, Wells Fargo & Company upgraded Cinemark from an “underweight” rating to an “overweight” rating and lifted their price target for the company from $13.00 to $23.00 in a report on Friday, April 5th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Cinemark has an average rating of “Moderate Buy” and an average target price of $22.70.

Cinemark Stock Performance

Shares of Cinemark stock opened at $21.56 on Wednesday. Cinemark has a 12 month low of $13.19 and a 12 month high of $22.19. The stock’s fifty day moving average price is $18.78 and its 200-day moving average price is $17.14. The firm has a market cap of $2.64 billion, a P/E ratio of 14.87, a P/E/G ratio of 2.04 and a beta of 2.36. The company has a current ratio of 1.48, a quick ratio of 1.45 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, topping the consensus estimate of ($0.21) by $0.40. Cinemark had a return on equity of 69.48% and a net margin of 7.12%. The company had revenue of $579.00 million for the quarter, compared to the consensus estimate of $561.91 million. During the same period last year, the business posted ($0.03) EPS. Cinemark’s quarterly revenue was down 5.2% on a year-over-year basis.

Institutional Investors Weigh In On Cinemark

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. NBC Securities Inc. increased its holdings in shares of Cinemark by 17.2% during the fourth quarter. NBC Securities Inc. now owns 4,764 shares of the company’s stock valued at $67,000 after acquiring an additional 700 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Cinemark during the fourth quarter worth $192,000. Mackenzie Financial Corp purchased a new stake in shares of Cinemark during the fourth quarter valued at $210,000. Watershed Asset Management L.L.C. increased its position in shares of Cinemark by 6.2% in the 4th quarter. Watershed Asset Management L.L.C. now owns 15,658 shares of the company’s stock valued at $221,000 after acquiring an additional 915 shares during the period. Finally, Inspire Advisors LLC purchased a new position in Cinemark in the 1st quarter worth $240,000.

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.