Cinemark Holdings, Inc. (NYSE:CNK) – Equities researchers at Wedbush cut their FY2017 earnings estimates for Cinemark in a research note issued to investors on Monday, Zacks Investment Research reports. Wedbush analyst M. Pachter now expects that the company will earn $1.89 per share for the year, down from their previous estimate of $2.03. Wedbush currently has a “Buy” rating and a $38.00 price target on the stock. Wedbush also issued estimates for Cinemark’s Q4 2017 earnings at $0.43 EPS, Q4 2018 earnings at $0.52 EPS and FY2018 earnings at $2.37 EPS.
Cinemark (NYSE:CNK) last posted its quarterly earnings data on Friday, November 3rd. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.02). Cinemark had a return on equity of 18.43% and a net margin of 8.36%. The company had revenue of $710.70 million for the quarter, compared to the consensus estimate of $702.60 million. During the same quarter in the previous year, the firm posted $0.56 EPS. The business’s revenue for the quarter was down 7.5% compared to the same quarter last year.
Several other research analysts also recently issued reports on the stock. B. Riley restated a “buy” rating and set a $47.00 price objective on shares of Cinemark in a report on Tuesday, December 5th. Zacks Investment Research upgraded shares of Cinemark from a “sell” rating to a “hold” rating in a report on Wednesday, November 8th. Morgan Stanley upgraded shares of Cinemark from an “underweight” rating to an “equal weight” rating and set a $38.00 price objective on the stock in a report on Thursday, October 5th. Royal Bank of Canada dropped their price objective on shares of Cinemark from $43.00 to $40.00 and set a “sector perform” rating on the stock in a report on Monday, September 25th. Finally, Credit Suisse Group dropped their price objective on shares of Cinemark from $34.00 to $30.00 and set an “underperform” rating on the stock in a report on Thursday, September 28th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company’s stock. Cinemark currently has an average rating of “Hold” and an average target price of $42.00.
Cinemark (CNK) opened at $34.32 on Tuesday. Cinemark has a twelve month low of $32.03 and a twelve month high of $44.84. The company has a current ratio of 1.50, a quick ratio of 1.46 and a debt-to-equity ratio of 1.50. The stock has a market cap of $4,113.61, a PE ratio of 16.27, a PEG ratio of 1.03 and a beta of 1.18.
A number of large investors have recently added to or reduced their stakes in CNK. Cable Hill Partners LLC boosted its position in Cinemark by 3,300.0% in the third quarter. Cable Hill Partners LLC now owns 2,958 shares of the company’s stock valued at $107,000 after buying an additional 2,871 shares in the last quarter. Ffcm LLC acquired a new position in shares of Cinemark during the third quarter worth approximately $125,000. Zions Bancorporation acquired a new position in shares of Cinemark during the third quarter worth approximately $125,000. Advisor Group Inc. lifted its position in shares of Cinemark by 2.3% during the second quarter. Advisor Group Inc. now owns 3,767 shares of the company’s stock worth $145,000 after purchasing an additional 84 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new position in shares of Cinemark during the second quarter worth approximately $146,000. Hedge funds and other institutional investors own 94.66% of the company’s stock.
In other Cinemark news, Director Lee Roy Mitchell sold 174,607 shares of the business’s stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $36.72, for a total value of $6,411,569.04. Following the transaction, the director now directly owns 5,528,843 shares in the company, valued at $203,019,114.96. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Tom Owens sold 9,213 shares of the business’s stock in a transaction dated Wednesday, December 20th. The shares were sold at an average price of $36.00, for a total transaction of $331,668.00. Following the completion of the transaction, the executive vice president now owns 42,722 shares in the company, valued at $1,537,992. The disclosure for this sale can be found here. In the last three months, insiders sold 483,820 shares of company stock worth $17,672,093. 9.10% of the stock is currently owned by insiders.
Cinemark Holdings, Inc is engaged in the motion picture exhibition business with theatres in the United States (U.S.), Brazil, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Paraguay, Curacao and Bolivia. The Company manages its business in two segments: U.S.
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