FY2024 Earnings Forecast for Cinemark Issued By Roth Capital

Cinemark Holdings, Inc. (NYSE:CNK) – Roth Capital boosted their FY2024 earnings per share (EPS) estimates for Cinemark in a report issued on Wednesday, January 22nd. Roth Capital analyst E. Handler now expects that the company will post earnings per share of $2.05 for the year, up from their prior estimate of $2.02. The consensus estimate for Cinemark’s current full-year earnings is $2.06 per share. Roth Capital also issued estimates for Cinemark’s Q1 2025 earnings at $0.04 EPS, Q2 2025 earnings at $0.86 EPS, Q3 2025 earnings at $0.83 EPS, Q4 2025 earnings at $0.57 EPS, FY2025 earnings at $2.29 EPS and FY2026 earnings at $3.03 EPS.

Cinemark (NYSE:CNK) last announced its quarterly earnings data on Thursday, October 31st. The company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.61. The firm had revenue of $921.80 million for the quarter, compared to the consensus estimate of $894.90 million. Cinemark had a return on equity of 60.21% and a net margin of 8.36%. The firm’s revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.61 earnings per share.

Several other equities research analysts have also recently issued reports on CNK. JPMorgan Chase & Co. raised their target price on Cinemark from $25.00 to $29.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. Barrington Research raised Cinemark from a “market perform” rating to an “outperform” rating and set a $36.00 target price for the company in a research note on Thursday, October 31st. StockNews.com raised Cinemark from a “sell” rating to a “hold” rating in a research note on Sunday, November 10th. Benchmark reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Cinemark in a research note on Friday, January 10th. Finally, Macquarie lifted their price objective on Cinemark from $32.00 to $34.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $32.80.

Cinemark Price Performance

CNK stock opened at $29.03 on Thursday. The business has a fifty day moving average of $31.65 and a two-hundred day moving average of $28.65. The company has a quick ratio of 0.96, a current ratio of 0.98 and a debt-to-equity ratio of 3.46. The stock has a market cap of $3.55 billion, a price-to-earnings ratio of 18.73 and a beta of 2.40. Cinemark has a 52-week low of $13.45 and a 52-week high of $36.28.

Insiders Place Their Bets

In other news, insider Valmir Fernandes sold 25,000 shares of the business’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $32.68, for a total transaction of $817,000.00. Following the completion of the transaction, the insider now directly owns 179,729 shares of the company’s stock, valued at approximately $5,873,543.72. The trade was a 12.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.30% of the stock is owned by company insiders.

Institutional Trading of Cinemark

Several hedge funds have recently added to or reduced their stakes in CNK. Aigen Investment Management LP lifted its stake in Cinemark by 198.9% in the third quarter. Aigen Investment Management LP now owns 49,400 shares of the company’s stock worth $1,375,000 after acquiring an additional 32,870 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Cinemark by 88.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 62,239 shares of the company’s stock worth $1,733,000 after acquiring an additional 29,295 shares during the last quarter. State of New Jersey Common Pension Fund D purchased a new position in Cinemark in the third quarter worth approximately $1,960,000. Entropy Technologies LP purchased a new position in Cinemark in the third quarter worth approximately $893,000. Finally, Blueshift Asset Management LLC lifted its stake in Cinemark by 180.2% in the third quarter. Blueshift Asset Management LLC now owns 114,674 shares of the company’s stock worth $3,193,000 after acquiring an additional 73,747 shares during the last quarter.

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.