FY2016 Earnings Forecast for Cinemark Holdings Inc. Issued By B. Riley (CNK)
Cinemark Holdings Inc. (NYSE:CNK) – B. Riley boosted their FY2016 EPS estimates for shares of Cinemark Holdings in a report released on Wednesday. B. Riley analyst E. Wold now expects that the firm will post earnings of $1.93 per share for the year, up from their prior forecast of $1.89. B. Riley has a “Buy” rating and a $47.00 price objective on the stock. B. Riley also issued estimates for Cinemark Holdings’ Q4 2016 earnings at $0.40 EPS, Q2 2017 earnings at $0.59 EPS, Q3 2017 earnings at $0.62 EPS, FY2017 earnings at $2.25 EPS and Q3 2018 earnings at $0.67 EPS.
A number of other equities research analysts also recently issued reports on the company. Loop Capital initiated coverage on Cinemark Holdings in a research report on Tuesday, August 23rd. They set a “buy” rating and a $44.00 price objective on the stock. Goldman Sachs Group Inc. upgraded Cinemark Holdings from a “neutral” rating to a “buy” rating and set a $46.00 price target on the stock in a report on Monday, October 31st. Wedbush reiterated a “neutral” rating and issued a $40.00 price target on shares of Cinemark Holdings in a report on Thursday, September 22nd. Benchmark Co. reiterated a “hold” rating and issued a $35.94 price target on shares of Cinemark Holdings in a report on Wednesday. Finally, Credit Suisse Group AG set a $37.00 price target on Cinemark Holdings and gave the stock a “hold” rating in a report on Monday, August 1st. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $41.42.
Cinemark Holdings (NYSE:CNK) opened at 40.67 on Thursday. The firm’s 50-day moving average price is $39.46 and its 200-day moving average price is $37.31. Cinemark Holdings has a 52 week low of $26.56 and a 52 week high of $40.99. The stock has a market cap of $4.70 billion, a PE ratio of 21.76 and a beta of 1.01.
Cinemark Holdings (NYSE:CNK) last announced its quarterly earnings data on Tuesday, November 8th. The company reported $0.56 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.57 by $0.01. The company had revenue of $768.60 million for the quarter, compared to analysts’ expectations of $776.40 million. Cinemark Holdings had a net margin of 8.06% and a return on equity of 20.75%. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.40 EPS.
A number of hedge funds have recently made changes to their positions in CNK. Advisor Group Inc. acquired a new stake in Cinemark Holdings during the second quarter worth $121,000. Bessemer Group Inc. boosted its stake in Cinemark Holdings by 99.9% in the second quarter. Bessemer Group Inc. now owns 3,346 shares of the company’s stock worth $122,000 after buying an additional 1,672 shares during the last quarter. Cantab Capital Partners LLP acquired a new stake in Cinemark Holdings during the second quarter worth $161,000. Park National Corp OH acquired a new stake in Cinemark Holdings during the second quarter worth $203,000. Finally, Advance Capital I Inc. acquired a new stake in Cinemark Holdings during the second quarter worth $204,000. 88.40% of the stock is currently owned by institutional investors and hedge funds.
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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