Brokers Issue Forecasts for Cinemark Holdings, Inc.’s Q1 2019 Earnings (CNK)

Cinemark Holdings, Inc. (NYSE:CNK) – Wedbush reduced their Q1 2019 earnings estimates for shares of Cinemark in a research report issued to clients and investors on Monday, April 22nd. Wedbush analyst M. Pachter now forecasts that the company will post earnings per share of $0.19 for the quarter, down from their previous forecast of $0.28. Wedbush currently has a “Buy” rating and a $46.00 target price on the stock. Wedbush also issued estimates for Cinemark’s FY2019 earnings at $2.09 EPS, Q1 2020 earnings at $0.30 EPS, Q3 2020 earnings at $0.45 EPS and FY2020 earnings at $2.12 EPS.

Cinemark (NYSE:CNK) last released its earnings results on Friday, February 22nd. The company reported $0.17 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by ($0.28). Cinemark had a return on equity of 14.59% and a net margin of 6.64%. The company had revenue of $798.48 million during the quarter, compared to analyst estimates of $767.97 million. During the same period in the prior year, the business posted $0.82 earnings per share. Cinemark’s revenue was up 6.5% on a year-over-year basis.

Several other equities research analysts have also recently issued reports on CNK. Imperial Capital reissued an “outperform” rating and issued a $47.00 target price (up from $46.00) on shares of Cinemark in a research report on Monday, January 7th. Loop Capital initiated coverage on shares of Cinemark in a report on Thursday, January 31st. They issued a “hold” rating and a $41.00 price target on the stock. ValuEngine lowered shares of Cinemark from a “buy” rating to a “hold” rating in a report on Friday, February 8th. Finally, Zacks Investment Research lowered shares of Cinemark from a “buy” rating to a “hold” rating in a report on Tuesday, February 26th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $44.67.

CNK opened at $41.04 on Wednesday. The company has a debt-to-equity ratio of 1.38, a quick ratio of 1.14 and a current ratio of 1.18. Cinemark has a 1 year low of $33.36 and a 1 year high of $43.24. The company has a market capitalization of $4.79 billion, a P/E ratio of 22.43, a P/E/G ratio of 1.24 and a beta of 0.78.

A number of hedge funds and other institutional investors have recently bought and sold shares of CNK. Brookstone Capital Management purchased a new stake in shares of Cinemark during the first quarter valued at approximately $494,000. Nisa Investment Advisors LLC raised its stake in shares of Cinemark by 19.8% during the first quarter. Nisa Investment Advisors LLC now owns 30,300 shares of the company’s stock valued at $1,212,000 after purchasing an additional 5,000 shares during the period. Raymond James Trust N.A. raised its stake in shares of Cinemark by 4.5% during the first quarter. Raymond James Trust N.A. now owns 62,408 shares of the company’s stock valued at $2,496,000 after purchasing an additional 2,659 shares during the period. Retirement Systems of Alabama raised its stake in shares of Cinemark by 0.4% during the first quarter. Retirement Systems of Alabama now owns 202,818 shares of the company’s stock valued at $8,111,000 after purchasing an additional 820 shares during the period. Finally, Louisiana State Employees Retirement System raised its stake in shares of Cinemark by 1.1% during the first quarter. Louisiana State Employees Retirement System now owns 28,500 shares of the company’s stock valued at $1,140,000 after purchasing an additional 300 shares during the period. Hedge funds and other institutional investors own 96.49% of the company’s stock.

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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