Imperial Capital Analysts Raise Earnings Estimates for Cinemark Holdings, Inc. (CNK)

Cinemark Holdings, Inc. (NYSE:CNK) – Equities research analysts at Imperial Capital upped their FY2019 earnings estimates for Cinemark in a report released on Thursday, December 6th. Imperial Capital analyst D. Miller now expects that the company will post earnings per share of $2.30 for the year, up from their previous estimate of $2.27. Imperial Capital has a “Outperform” rating and a $46.00 price target on the stock. Imperial Capital also issued estimates for Cinemark’s Q4 2019 earnings at $0.55 EPS.

Cinemark (NYSE:CNK) last released its quarterly earnings results on Friday, November 2nd. The company reported $0.43 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.09. Cinemark had a net margin of 9.12% and a return on equity of 19.92%. The company had revenue of $754.20 million for the quarter, compared to analysts’ expectations of $730.27 million. During the same period last year, the company earned $0.33 EPS. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year.

Several other equities research analysts have also recently issued reports on the stock. Morgan Stanley raised their price target on shares of Cinemark from $39.00 to $41.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 18th. ValuEngine raised shares of Cinemark from a “hold” rating to a “buy” rating in a research note on Tuesday, October 9th. Zacks Investment Research cut shares of Cinemark from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 16th. Wedbush reaffirmed a “buy” rating and set a $43.00 price target on shares of Cinemark in a research note on Monday, October 15th. Finally, B. Riley decreased their price target on shares of Cinemark from $48.00 to $45.00 and set a “buy” rating on the stock in a research note on Monday, November 5th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $43.90.

Cinemark stock opened at $39.63 on Friday. Cinemark has a 12-month low of $33.36 and a 12-month high of $44.00. The stock has a market cap of $4.49 billion, a price-to-earnings ratio of 15.51, a PEG ratio of 1.25 and a beta of 0.79. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.20 and a current ratio of 1.24.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in shares of Cinemark by 2.3% in the second quarter. BlackRock Inc. now owns 11,535,809 shares of the company’s stock worth $404,676,000 after acquiring an additional 254,393 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Cinemark by 4.9% in the third quarter. JPMorgan Chase & Co. now owns 4,381,965 shares of the company’s stock worth $176,155,000 after acquiring an additional 205,898 shares during the last quarter. Eagle Asset Management Inc. boosted its position in shares of Cinemark by 5.9% in the second quarter. Eagle Asset Management Inc. now owns 2,998,755 shares of the company’s stock worth $105,196,000 after acquiring an additional 168,245 shares during the last quarter. CI Investments Inc. boosted its position in shares of Cinemark by 1.6% in the third quarter. CI Investments Inc. now owns 2,852,873 shares of the company’s stock worth $114,685,000 after acquiring an additional 44,450 shares during the last quarter. Finally, Raymond James & Associates boosted its position in shares of Cinemark by 9.8% in the second quarter. Raymond James & Associates now owns 2,267,431 shares of the company’s stock worth $79,542,000 after acquiring an additional 202,277 shares during the last quarter.

In related news, CFO Sean Gamble sold 7,468 shares of the firm’s stock in a transaction that occurred on Friday, November 9th. The shares were sold at an average price of $40.90, for a total value of $305,441.20. Following the sale, the chief financial officer now directly owns 92,673 shares of the company’s stock, valued at $3,790,325.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.90% of the stock is currently owned by company insiders.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 18th. Investors of record on Tuesday, December 4th will be given a $0.32 dividend. The ex-dividend date of this dividend is Monday, December 3rd. This represents a $1.28 annualized dividend and a dividend yield of 3.23%. Cinemark’s dividend payout ratio is presently 56.64%.

About Cinemark

Cinemark Holdings, Inc, together with its subsidiaries, engages in the motion picture exhibition business. As of October 15, 2018, it operated 539 theatres with 5,998 screens in 41 states of the United States, Brazil, Argentina, Chile, and 12 other Latin American countries. The company was incorporated in 2006 and is headquartered in Plano, Texas.

See Also: Institutional Investors

Earnings History and Estimates for Cinemark (NYSE:CNK)

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