FY2016 Earnings Forecast for Cinemark Holdings Inc. (CNK) Issued By B. Riley
Cinemark Holdings Inc. (NYSE:CNK) – Stock analysts at B. Riley raised their FY2016 earnings estimates for shares of Cinemark Holdings in a report issued on Thursday. B. Riley analyst E. Wold now anticipates that the brokerage will post earnings of $1.89 per share for the year, up from their previous forecast of $1.79. B. Riley currently has a “Buy” rating and a $47.00 target price on the stock. B. Riley also issued estimates for Cinemark Holdings’ FY2017 earnings at $2.22 EPS and FY2018 earnings at $2.48 EPS.
Other equities analysts have also recently issued reports about the stock. 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 report on Monday, July 25th. Drexel Hamilton reaffirmed a “buy” rating on shares of Cinemark Holdings in a research report on Thursday, July 7th. Loop Capital reissued a “buy” rating and issued a $44.00 target price on shares of Cinemark Holdings in a report on Tuesday, October 4th. 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. Finally, Wedbush reissued a “neutral” rating and issued a $40.00 target price on shares of Cinemark Holdings in a report on Friday, July 15th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $40.46.
Cinemark Holdings (NYSE:CNK) opened at 39.51 on Monday. Cinemark Holdings has a 12-month low of $26.56 and a 12-month high of $40.19. The stock has a market capitalization of $4.57 billion, a price-to-earnings ratio of 21.14 and a beta of 1.01. The company has a 50-day moving average price of $38.55 and a 200-day moving average price of $36.57.
Cinemark Holdings (NYSE:CNK) last released its earnings results on Tuesday, August 9th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.51 by $0.05. The company earned $744.40 million during the quarter, compared to analysts’ expectations of $746.05 million. Cinemark Holdings had a net margin of 7.58% and a return on equity of 19.68%. The company’s revenue for the quarter was down 6.9% on a year-over-year basis. During the same quarter last year, the business posted $0.61 earnings per share.
Hedge funds have recently modified their holdings of the company. Opus Capital Group LLC boosted its stake in shares of 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 during the last quarter. Smithfield Trust Co. boosted its stake in shares of 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 during the last quarter. Miles Capital Inc. boosted its stake in shares of 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 during the last quarter. Raymond James Trust N.A. boosted its stake in shares of 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 during the last quarter. Finally, Capstone Asset Management Co. boosted its stake in shares of 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 during the last quarter. Hedge funds and other institutional investors own 88.53% of the company’s stock.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 13th. Investors of record on Wednesday, August 31st were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date of this dividend was Monday, August 29th. Cinemark Holdings’s payout ratio is 58.06%.
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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