Analysts Set Expectations for Cinemark Holdings Inc.’s FY2016 Earnings (CNK)
Cinemark Holdings Inc. (NYSE:CNK) – Equities research analysts at Barrington Research lifted their FY2016 EPS estimates for shares of Cinemark Holdings in a research report issued to clients and investors on Friday. Barrington Research analyst J. Goss now forecasts that the firm will post earnings per share of $2.00 for the year, up from their prior estimate of $1.90. Barrington Research also issued estimates for Cinemark Holdings’ Q4 2016 earnings at $0.47 EPS, Q1 2017 earnings at $0.52 EPS, Q3 2017 earnings at $0.66 EPS, FY2017 earnings at $2.35 EPS and FY2018 earnings at $2.60 EPS.
A number of other brokerages have also recently commented on CNK. Loop Capital began coverage on shares of Cinemark Holdings in a research report on Tuesday, August 23rd. They issued a “buy” rating and a $44.00 target price on the stock. Goldman Sachs Group Inc. upgraded shares of Cinemark Holdings from a “neutral” rating to a “buy” rating and set a $46.00 target price on the stock in a research report on Monday, October 31st. Wedbush reiterated a “neutral” rating and issued a $40.00 target price on shares of Cinemark Holdings in a research report on Thursday, September 22nd. Benchmark Co. reiterated a “hold” rating and issued a $35.94 target price on shares of Cinemark Holdings in a research report on Wednesday, November 9th. 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 research report on Monday, August 1st. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $41.42.
Cinemark Holdings (NYSE:CNK) opened at 40.67 on Monday. The stock’s 50 day moving average is $39.46 and its 200 day moving average is $37.31. Cinemark Holdings has a one year low of $26.56 and a one year high of $40.99. The firm has a market cap of $4.70 billion, a price-to-earnings 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 for the quarter, missing the 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 company had revenue of $768.60 million for the quarter, compared to analyst estimates of $776.40 million. During the same quarter in the prior year, the company posted $0.40 EPS. Cinemark Holdings’s revenue for the quarter was up 9.8% on a year-over-year basis.
Several large investors have recently made changes to their positions in CNK. State Street Corp raised its stake in shares of Cinemark Holdings by 1.9% in the first quarter. State Street Corp now owns 2,872,665 shares of the company’s stock worth $102,927,000 after buying an additional 52,616 shares during the last quarter. Hamlin Capital Management LLC boosted its position in shares of Cinemark Holdings by 5.3% in the second quarter. Hamlin Capital Management LLC now owns 1,418,181 shares of the company’s stock worth $51,707,000 after buying an additional 71,337 shares during the period. Wellington Management Group LLP boosted its position in shares of Cinemark Holdings by 4.3% in the first quarter. Wellington Management Group LLP now owns 1,677,659 shares of the company’s stock worth $60,111,000 after buying an additional 68,571 shares during the period. Squarepoint Ops LLC boosted its position in shares of Cinemark Holdings by 231.2% in the first quarter. Squarepoint Ops LLC now owns 27,124 shares of the company’s stock worth $972,000 after buying an additional 18,935 shares during the period. Finally, K.J. Harrison & Partners Inc acquired a new position in shares of Cinemark Holdings during the second quarter worth about $1,823,000. 88.27% of the stock is currently 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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