Imperial Capital Equities Analysts Reduce Earnings Estimates for Cinemark Holdings, Inc. (NYSE:CNK)

Cinemark Holdings, Inc. (NYSE:CNK) – Research analysts at Imperial Capital reduced their FY2019 earnings per share estimates for shares of Cinemark in a report released on Wednesday, November 6th. Imperial Capital analyst D. Miller now anticipates that the company will post earnings per share of $2.09 for the year, down from their prior forecast of $2.22. Imperial Capital also issued estimates for Cinemark’s Q4 2019 earnings at $0.67 EPS, Q1 2020 earnings at $0.43 EPS, Q2 2020 earnings at $0.84 EPS, Q3 2020 earnings at $0.57 EPS, Q4 2020 earnings at $0.64 EPS and FY2020 earnings at $2.48 EPS.

Cinemark (NYSE:CNK) last released its quarterly earnings results on Tuesday, November 5th. The company reported $0.27 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.23). The firm had revenue of $821.82 million during the quarter, compared to analysts’ expectations of $807.69 million. Cinemark had a return on equity of 14.25% and a net margin of 5.60%. The business’s quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter last year, the business earned $0.43 earnings per share.

A number of other research firms also recently issued reports on CNK. Barrington Research restated a “buy” rating and issued a $49.00 price target on shares of Cinemark in a research note on Tuesday, November 5th. Goldman Sachs Group set a $43.00 price target on Cinemark and gave the stock a “buy” rating in a research note on Tuesday, October 15th. MKM Partners dropped their price target on Cinemark from $45.00 to $43.00 and set a “buy” rating on the stock in a research note on Tuesday, September 10th. Wedbush restated a “buy” rating and issued a $45.00 price target on shares of Cinemark in a research note on Tuesday, November 5th. Finally, TheStreet downgraded Cinemark from a “b-” rating to a “c+” rating in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Cinemark presently has an average rating of “Buy” and a consensus price target of $43.60.

CNK stock opened at $36.31 on Friday. The company has a market cap of $4.30 billion, a P/E ratio of 19.84, a price-to-earnings-growth ratio of 1.06 and a beta of 0.68. Cinemark has a 1 year low of $34.49 and a 1 year high of $43.51. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.95 and a quick ratio of 0.92. The stock’s fifty day moving average price is $37.09 and its 200-day moving average price is $38.24.

Institutional investors have recently made changes to their positions in the stock. Quadrant Capital Group LLC raised its holdings in Cinemark by 537.4% in the 3rd quarter. Quadrant Capital Group LLC now owns 937 shares of the company’s stock worth $34,000 after purchasing an additional 790 shares during the period. Mesirow Financial Investment Management Equity Management bought a new position in Cinemark in the 2nd quarter worth $49,000. Quest Capital Management Inc. ADV bought a new position in Cinemark in the 3rd quarter worth $54,000. Marshall Wace LLP bought a new position in Cinemark in the 1st quarter worth $65,000. Finally, Cerebellum GP LLC bought a new position in Cinemark in the 3rd quarter worth $118,000. 99.60% of the stock is currently owned by institutional investors.

Cinemark Company Profile

Cinemark Holdings, Inc, together with its subsidiaries, engages in the motion picture exhibition business. As of December 31, 2018, it operated 341 theatres and 4,586 screens in 41 states of the United States; and 205 theatres and 1,462 screens in Brazil, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Bolivia, Curacao, and Paraguay.

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Earnings History and Estimates for Cinemark (NYSE:CNK)

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