FBR & Co Weighs in on Cinemark Holdings Inc.’s Q3 2016 Earnings (CNK)
Cinemark Holdings Inc. (NYSE:CNK) – Equities researchers at FBR & Co decreased their Q3 2016 earnings estimates for shares of Cinemark Holdings in a research report issued to clients and investors on Monday. FBR & Co analyst B. Crockett now forecasts that the brokerage will post earnings per share of $0.63 for the quarter, down from their prior forecast of $0.72. FBR & Co also issued estimates for Cinemark Holdings’ Q4 2016 earnings at $0.46 EPS.
Cinemark Holdings (NYSE:CNK) last released its quarterly earnings data on Tuesday, August 9th. The company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by $0.05. The firm had revenue of $744.40 million for the quarter, compared to analyst estimates of $746.05 million. Cinemark Holdings had a return on equity of 19.68% and a net margin of 7.58%. The company’s quarterly revenue was down 6.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.61 earnings per share.
CNK has been the subject of a number of other reports. Drexel Hamilton cut shares of Cinemark Holdings from a “buy” rating to a “hold” rating and set a $42.00 target price for the company. in a report on Wednesday, August 10th. JPMorgan Chase & Co. restated a “buy” rating on shares of Cinemark Holdings in a report on Sunday, July 10th. Wedbush restated a “neutral” rating and set a $40.00 target price on shares of Cinemark Holdings in a report on Thursday, September 22nd. Wunderlich raised their target price on shares of Cinemark Holdings from $40.00 to $47.00 and gave the stock a “buy” rating in a report on Friday, August 12th. Finally, Credit Suisse Group AG set a $37.00 target price on shares of Cinemark Holdings and gave the stock a “hold” rating in a report on Monday, August 1st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $40.46.
Cinemark Holdings (NYSE:CNK) remained flat at $39.51 during mid-day trading on Wednesday. The company’s stock had a trading volume of 98,401 shares. The company’s 50 day moving average price is $38.55 and its 200-day moving average price is $36.57. The company has a market cap of $4.57 billion, a PE ratio of 21.14 and a beta of 1.01. Cinemark Holdings has a 52-week low of $26.56 and a 52-week high of $40.19.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Opus Capital Group LLC increased its position in Cinemark Holdings by 1.2% in the second quarter. Opus Capital Group LLC now owns 5,697 shares of the company’s stock worth $207,000 after buying an additional 68 shares in the last quarter. Smithfield Trust Co. increased its position in Cinemark Holdings by 1.4% in the second quarter. Smithfield Trust Co. now owns 6,666 shares of the company’s stock worth $243,000 after buying an additional 93 shares in the last quarter. Miles Capital Inc. increased its position in Cinemark Holdings by 1.5% in the second quarter. Miles Capital Inc. now owns 11,936 shares of the company’s stock worth $435,000 after buying an additional 173 shares in the last quarter. Raymond James Trust N.A. increased its position in Cinemark Holdings by 1.5% in the third quarter. Raymond James Trust N.A. now owns 18,031 shares of the company’s stock worth $691,000 after buying an additional 259 shares in the last quarter. Finally, Capstone Asset Management Co. increased its position in Cinemark Holdings by 2.8% in the second quarter. Capstone Asset Management Co. now owns 9,862 shares of the company’s stock worth $360,000 after buying an additional 270 shares in the last quarter. Institutional investors and hedge funds own 88.53% of the company’s stock.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 13th. Stockholders of record on Wednesday, August 31st were issued a dividend of $0.27 per share. The ex-dividend date of this dividend was Monday, August 29th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.73%. Cinemark Holdings’s dividend payout ratio is currently 58.06%.
Cinemark Holdings Company Profile
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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