B. Riley Weighs in on Cinemark Holdings Inc.’s Q3 2016 Earnings (CNK)
Cinemark Holdings Inc. (NYSE:CNK) – Research analysts at B. Riley boosted their Q3 2016 earnings per share (EPS) estimates for Cinemark Holdings in a report issued on Thursday. B. Riley analyst E. Wold now anticipates that the firm will post earnings per share of $0.52 for the quarter, up from their previous estimate of $0.41. B. Riley has a “Buy” rating and a $47.00 price objective on the stock.
A number of other research firms have also commented on CNK. MKM Partners upped their price objective on shares of Cinemark Holdings from $40.00 to $43.00 and gave the company a “buy” rating in a research note on Monday, July 25th. Loop Capital reaffirmed a “buy” rating and issued a $44.00 price objective on shares of Cinemark Holdings in a research note on Tuesday. Wedbush reiterated a “neutral” rating and set a $40.00 target price on shares of Cinemark Holdings in a research report on Thursday, September 22nd. Wunderlich boosted their target price on shares of Cinemark Holdings from $40.00 to $47.00 and gave the company a “buy” rating in a research report on Friday, August 12th. Finally, Drexel Hamilton downgraded shares of Cinemark Holdings from a “buy” rating to a “hold” rating and set a $42.00 target price on the stock. in a research report on Wednesday, August 10th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $40.46.
Cinemark Holdings (NYSE:CNK) traded up 0.13% on Friday, reaching $39.68. 269,755 shares of the company were exchanged. Cinemark Holdings has a 12-month low of $26.56 and a 12-month high of $39.88. The stock has a market capitalization of $4.59 billion, a P/E ratio of 21.23 and a beta of 1.01. The company’s 50-day moving average price is $38.42 and its 200-day moving average price is $36.48.
Cinemark Holdings (NYSE:CNK) last released its earnings results on Tuesday, August 9th. The company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by $0.05. The business earned $744.40 million during the quarter, compared to the consensus estimate of $746.05 million. Cinemark Holdings had a net margin of 7.58% and a return on equity of 19.68%. The firm’s revenue for the quarter was down 6.9% on a year-over-year basis. During the same period last year, the business posted $0.61 EPS.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 13th. Stockholders of record on Wednesday, August 31st were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 2.73%. The ex-dividend date of this dividend was Monday, August 29th. Cinemark Holdings’s payout ratio is currently 58.06%.
Several large investors have recently added to or reduced their stakes in CNK. 1832 Asset Management L.P. raised its stake in Cinemark Holdings by 377.4% in the first quarter. 1832 Asset Management L.P. now owns 1,068,794 shares of the company’s stock valued at $63,160,000 after buying an additional 844,925 shares during the last quarter. Credit Agricole S A bought a new position in shares of Cinemark Holdings during the first quarter worth about $264,000. Carnick & Kubik LLC increased its position in shares of Cinemark Holdings by 3.0% in the first quarter. Carnick & Kubik LLC now owns 17,996 shares of the company’s stock worth $645,000 after buying an additional 520 shares during the period. BlackRock Institutional Trust Company N.A. increased its position in shares of Cinemark Holdings by 1.8% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 3,266,302 shares of the company’s stock worth $117,032,000 after buying an additional 58,524 shares during the period. Finally, BlackRock Fund Advisors increased its position in shares of Cinemark Holdings by 10.3% in the first quarter. BlackRock Fund Advisors now owns 6,126,668 shares of the company’s stock worth $219,519,000 after buying an additional 569,842 shares during the period. 88.53% of the stock is owned by hedge funds and other institutional investors.
About Cinemark Holdings
Cinemark Holdings, Inc (Cinemark) is engaged in the motion picture exhibition business with theatres in the United States, Brazil, Mexico, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Curacao and Bolivia. The Company manages its business in two segments: United States markets and international markets.
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