Equities analysts forecast that Cinemark Holdings, Inc. (NYSE:CNK) will post earnings per share (EPS) of ($0.60) for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Cinemark’s earnings. The lowest EPS estimate is ($0.72) and the highest is ($0.46). Cinemark reported earnings per share of ($1.25) in the same quarter last year, which suggests a positive year-over-year growth rate of 52%. The company is expected to issue its next earnings results on Thursday, November 4th.
On average, analysts expect that Cinemark will report full-year earnings of ($3.70) per share for the current financial year, with EPS estimates ranging from ($3.93) to ($3.54). For the next year, analysts anticipate that the firm will post earnings of $0.84 per share, with EPS estimates ranging from $0.25 to $1.39. Zacks’ earnings per share calculations are a mean average based on a survey of research firms that that provide coverage for Cinemark.
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Cinemark (NYSE:CNK) last announced its quarterly earnings results on Thursday, August 5th. The company reported ($1.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.13) by ($0.06). The company had revenue of $294.70 million for the quarter, compared to analyst estimates of $260.98 million. Cinemark had a negative return on equity of 107.71% and a negative net margin of 135.90%. The firm’s revenue for the quarter was up 3174.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($1.45) earnings per share.
Several research firms recently commented on CNK. The Goldman Sachs Group cut Cinemark from a “neutral” rating to a “sell” rating and lowered their target price for the company from $21.00 to $19.00 in a research report on Wednesday, June 2nd. Morgan Stanley lowered their target price on Cinemark from $25.00 to $20.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 29th. Finally, Zacks Investment Research upgraded Cinemark from a “sell” rating to a “hold” rating in a research report on Thursday, July 22nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $23.22.
Shares of Cinemark stock traded down $0.17 on Friday, reaching $17.01. 2,883,524 shares of the company were exchanged, compared to its average volume of 4,232,126. The company has a debt-to-equity ratio of 6.51, a quick ratio of 1.08 and a current ratio of 1.10. The company’s 50-day moving average is $17.10 and its two-hundred day moving average is $20.53. The firm has a market cap of $2.03 billion, a price-to-earnings ratio of -2.73 and a beta of 2.54. Cinemark has a 1-year low of $7.56 and a 1-year high of $27.84.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Marshall Wace LLP bought a new stake in shares of Cinemark during the 1st quarter worth $65,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of Cinemark in the first quarter worth $36,000. Advisory Services Network LLC acquired a new stake in shares of Cinemark in the second quarter worth $88,000. Eaton Vance Management acquired a new stake in shares of Cinemark in the first quarter worth $96,000. Finally, Focused Wealth Management Inc acquired a new stake in shares of Cinemark in the first quarter worth $102,000. 86.85% of the stock is owned by institutional investors and hedge funds.
Cinemark Holdings, Inc is a holding company, which engages in the provision of motion picture exhibition through its subsidiaries. It operates through the U.S. and International segments. The company was founded by Lee Roy Mitchell in 1984 and is headquartered in Plano, TX.
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