Brokers Offer Predictions for Cinemark Holdings Inc.’s Q2 2018 Earnings (CNK)
Cinemark Holdings Inc. (NYSE:CNK) – B. Riley decreased their Q2 2018 earnings per share (EPS) estimates for Cinemark Holdings in a report released on Wednesday. B. Riley analyst E. Wold now anticipates that the brokerage will earn $0.64 per share for the quarter, down from their previous forecast of $0.65. B. Riley currently has a “Buy” rating and a $47.00 price objective on the stock. B. Riley also issued estimates for Cinemark Holdings’ FY2018 earnings at $2.46 EPS.
Cinemark Holdings (NYSE:CNK) last released its earnings results on Tuesday, November 8th. The company reported $0.56 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.57 by $0.01. Cinemark Holdings had a net margin of 8.06% and a return on equity of 20.75%. The business had revenue of $768.60 million for the quarter, compared to analysts’ expectations of $776.40 million. During the same quarter in the previous year, the business posted $0.40 earnings per share. Cinemark Holdings’s revenue for the quarter was up 9.8% on a year-over-year basis.
Other equities analysts also recently issued reports about the stock. MKM Partners upped their price target on shares of Cinemark Holdings from $40.00 to $43.00 and gave the company a “buy” rating in a report on Monday, July 25th. Goldman Sachs Group Inc. upgraded shares of 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. Loop Capital restated a “buy” rating and issued a $44.00 target price on shares of Cinemark Holdings in a research note on Tuesday, October 4th. Wunderlich upped their target price on shares of Cinemark Holdings from $40.00 to $47.00 and gave the stock a “buy” rating in a research note 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 note on Wednesday, August 10th. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $41.42.
Cinemark Holdings (NYSE:CNK) opened at 40.67 on Friday. Cinemark Holdings has a one year low of $26.56 and a one year high of $40.99. The company has a 50-day moving average of $39.46 and a 200-day moving average of $37.31. The stock has a market capitalization of $4.70 billion, a price-to-earnings ratio of 21.76 and a beta of 1.01.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Advisor Group Inc. bought a new position in Cinemark Holdings during the second quarter worth about $121,000. Bessemer Group Inc. boosted its position 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 in the last quarter. Cantab Capital Partners LLP bought a new position in Cinemark Holdings during the second quarter worth about $161,000. Park National Corp OH bought a new position in Cinemark Holdings during the second quarter worth about $203,000. Finally, Advance Capital I Inc. bought a new position in Cinemark Holdings during the second quarter worth about $204,000. 88.40% of the stock is 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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