FY2024 Earnings Forecast for Cinemark Issued By Roth Capital

Cinemark Holdings, Inc. (NYSE:CNK) – Investment analysts at Roth Capital upped their FY2024 earnings per share estimates for Cinemark in a research report issued on Wednesday, January 22nd. Roth Capital analyst E. Handler now expects that the company will post earnings of $2.05 per share for the year, up from their previous estimate of $2.02. The consensus estimate for Cinemark’s current full-year earnings is $2.05 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 posted its earnings results on Thursday, October 31st. The company reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.61. Cinemark had a net margin of 8.36% and a return on equity of 60.21%. The firm had revenue of $921.80 million for the quarter, compared to analysts’ expectations of $894.90 million. During the same quarter in the previous year, the firm posted $0.61 earnings per share. The company’s revenue was up 5.4% on a year-over-year basis.

Several other analysts have also recently weighed in on the company. Roth Mkm boosted their price target on Cinemark from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. JPMorgan Chase & Co. upped their price target on shares of Cinemark from $25.00 to $29.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. Wells Fargo & Company lifted their price target on shares of Cinemark from $35.00 to $38.00 and gave the stock an “overweight” rating in a report on Wednesday, November 27th. Morgan Stanley increased their price objective on Cinemark from $29.00 to $35.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Finally, Macquarie raised their target price on Cinemark from $32.00 to $34.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $32.80.

Cinemark Price Performance

Shares of CNK opened at $29.31 on Thursday. 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 $3.59 billion, a PE ratio of 18.91 and a beta of 2.40. Cinemark has a 12-month low of $13.45 and a 12-month high of $36.28. The business has a 50-day simple moving average of $31.81 and a two-hundred day simple moving average of $28.59.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Aigen Investment Management LP raised its holdings in shares of Cinemark by 198.9% during the third quarter. Aigen Investment Management LP now owns 49,400 shares of the company’s stock valued at $1,375,000 after acquiring an additional 32,870 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings 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 purchasing an additional 29,295 shares in the last quarter. State of New Jersey Common Pension Fund D purchased a new position in Cinemark during the third quarter valued at $1,960,000. Entropy Technologies LP bought a new stake in shares of Cinemark during the 3rd quarter valued at $893,000. Finally, Blueshift Asset Management LLC grew its position in shares of Cinemark by 180.2% in the 3rd quarter. Blueshift Asset Management LLC now owns 114,674 shares of the company’s stock worth $3,193,000 after buying an additional 73,747 shares during the period.

Insider Activity

In other Cinemark news, insider Valmir Fernandes sold 25,000 shares of Cinemark stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $32.68, for a total transaction of $817,000.00. Following the completion of the sale, the insider now directly owns 179,729 shares in the company, valued at $5,873,543.72. The trade was a 12.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.30% of the stock is owned by company insiders.

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.