Wall Street analysts predict that Cinemark Holdings, Inc. (NYSE:CNK) will report sales of $746.72 million for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Cinemark’s earnings, with the highest sales estimate coming in at $750.90 million and the lowest estimate coming in at $744.80 million. Cinemark reported sales of $700.92 million in the same quarter last year, which indicates a positive year-over-year growth rate of 6.5%. The business is scheduled to announce its next quarterly earnings results before the market opens on Friday, February 23rd.
According to Zacks, analysts expect that Cinemark will report full year sales of $746.72 million for the current year, with estimates ranging from $2.98 billion to $2.99 billion. For the next fiscal year, analysts expect that the firm will post sales of $3.11 billion per share, with estimates ranging from $3.08 billion to $3.14 billion. Zacks’ sales averages are an average based on a survey of research firms that that provide coverage for Cinemark.
A number of equities analysts have recently commented on the company. Royal Bank of Canada upgraded Cinemark from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $33.91 to $40.00 in a report on Wednesday, January 10th. B. Riley restated a “buy” rating and issued a $42.50 price objective (down from $47.00) on shares of Cinemark in a report on Monday, January 22nd. Wedbush set a $42.00 price objective on Cinemark and gave the stock a “buy” rating in a report on Tuesday, December 5th. Zacks Investment Research upgraded Cinemark from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a report on Thursday, February 1st. Finally, Morgan Stanley raised their target price on Cinemark from $38.00 to $40.00 and gave the company an “equal weight” rating in a report on Wednesday, January 31st. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $41.61.
In other Cinemark news, EVP Tom Owens sold 9,213 shares of the firm’s stock in a transaction that occurred on Wednesday, December 20th. The stock was sold at an average price of $36.00, for a total transaction of $331,668.00. Following the completion of the sale, the executive vice president now owns 42,722 shares in the company, valued at approximately $1,537,992. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Lee Roy Mitchell sold 299,700 shares of the firm’s stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $36.43, for a total value of $10,918,071.00. Following the sale, the director now owns 5,528,843 shares of the company’s stock, valued at approximately $201,415,750.49. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 483,820 shares of company stock worth $17,672,093. Company insiders own 9.20% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of CNK. Cable Hill Partners LLC grew its stake in Cinemark by 3,300.0% during the 3rd quarter. Cable Hill Partners LLC now owns 2,958 shares of the company’s stock valued at $107,000 after purchasing an additional 2,871 shares in the last quarter. Cerebellum GP LLC acquired a new stake in Cinemark during the 4th quarter valued at approximately $118,000. Ffcm LLC acquired a new stake in Cinemark during the 3rd quarter valued at approximately $125,000. Zions Bancorporation acquired a new stake in Cinemark during the 3rd quarter valued at approximately $125,000. Finally, Advisor Group Inc. grew its stake in Cinemark by 2.3% during the 2nd quarter. Advisor Group Inc. now owns 3,767 shares of the company’s stock valued at $145,000 after purchasing an additional 84 shares in the last quarter. Hedge funds and other institutional investors own 94.43% of the company’s stock.
Cinemark (CNK) opened at $39.03 on Monday. The company has a market capitalization of $4,545.71, a PE ratio of 18.50, a PEG ratio of 1.08 and a beta of 1.15. The company has a quick ratio of 1.46, a current ratio of 1.50 and a debt-to-equity ratio of 1.50. Cinemark has a twelve month low of $32.03 and a twelve month high of $44.84.
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Cinemark Company Profile
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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