Wall Street analysts forecast that Cinemark Holdings Inc (NYSE:CNK) will announce $0.36 earnings per share for the current quarter, Zacks reports. Four analysts have issued estimates for Cinemark Holdings’ earnings. The highest EPS estimate is $0.39 and the lowest is $0.30. Cinemark Holdings reported earnings of $0.56 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 35.7%. The firm is expected to announce its next quarterly earnings report on Tuesday, November 14th.
On average, analysts expect that Cinemark Holdings will report full year earnings of $2.10 per share for the current fiscal year, with EPS estimates ranging from $2.02 to $2.20. For the next fiscal year, analysts anticipate that the company will report earnings of $2.22 per share, with EPS estimates ranging from $2.14 to $2.50. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that follow Cinemark Holdings.
Cinemark Holdings (NYSE:CNK) last posted its quarterly earnings data on Friday, August 4th. The company reported $0.44 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.44. Cinemark Holdings had a net margin of 9.12% and a return on equity of 20.98%. The company had revenue of $751.20 million during the quarter, compared to the consensus estimate of $751.72 million. During the same quarter in the prior year, the company posted $0.46 EPS. The company’s quarterly revenue was up .9% compared to the same quarter last year.
Several equities research analysts recently issued reports on the company. Credit Suisse Group downgraded Cinemark Holdings from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $38.00 to $34.00 in a research note on Thursday, June 22nd. B. Riley reaffirmed a “buy” rating and set a $51.00 price target on shares of Cinemark Holdings in a research note on Monday, July 31st. Barrington Research cut their price target on Cinemark Holdings from $49.00 to $46.00 and set an “outperform” rating for the company in a research note on Monday, August 7th. Wedbush reaffirmed a “buy” rating on shares of Cinemark Holdings in a research note on Monday, August 7th. Finally, Zacks Investment Research downgraded Cinemark Holdings from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $42.00.
In related news, CEO Mark Zoradi acquired 5,000 shares of the stock in a transaction dated Friday, September 8th. The shares were acquired at an average price of $32.19 per share, with a total value of $160,950.00. Following the acquisition, the chief executive officer now owns 172,456 shares in the company, valued at approximately $5,551,358.64. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 9.20% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Victory Capital Management Inc. increased its holdings in shares of Cinemark Holdings by 15.4% during the 2nd quarter. Victory Capital Management Inc. now owns 187,598 shares of the company’s stock valued at $7,288,000 after acquiring an additional 25,083 shares during the last quarter. Macquarie Group Ltd. increased its holdings in shares of Cinemark Holdings by 3.0% during the 1st quarter. Macquarie Group Ltd. now owns 1,538,047 shares of the company’s stock valued at $68,197,000 after acquiring an additional 44,210 shares during the last quarter. Partners Value Investments LP increased its holdings in shares of Cinemark Holdings by 46.0% during the 2nd quarter. Partners Value Investments LP now owns 73,000 shares of the company’s stock valued at $2,836,000 after acquiring an additional 23,000 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of Cinemark Holdings by 1.4% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,304,557 shares of the company’s stock valued at $89,532,000 after acquiring an additional 32,271 shares during the last quarter. Finally, Soros Fund Management LLC acquired a new position in shares of Cinemark Holdings during the 1st quarter valued at about $310,000. 90.13% of the stock is currently owned by institutional investors and hedge funds.
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Cinemark Holdings (NYSE:CNK) traded up 1.70% on Monday, hitting $35.80. 1,701,525 shares of the stock were exchanged. Cinemark Holdings has a 52 week low of $32.03 and a 52 week high of $44.84. The company has a market cap of $4.15 billion, a PE ratio of 15.30 and a beta of 1.10. The company’s 50-day moving average is $35.46 and its 200-day moving average is $38.63.
About Cinemark Holdings
Cinemark Holdings, Inc is engaged in the motion picture exhibition business with theatres in the United States (U.S.), Brazil, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Paraguay, Curacao and Bolivia. The Company manages its business in two segments: U.S.
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