Analysts forecast says Cinemark Holdings to post -$1.23 Earnings Per Share for Q3

Analysts forecast that Cinemark Holdings, Inc. (NYSE:CNK) will post ($1.23) earnings per share for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Cinemark’s earnings, with the highest EPS estimate coming in at ($0.76) and the lowest estimate coming in at ($1.47).

Cinemark reported earnings of $0.50 per share during the same quarter last year, which indicates a negative year over year growth rate of 346%. The business is expected to announce its next earnings results on Tuesday, November 3rd.

According to Zacks, analysts expect that Cinemark will report full year earnings of ($4.11) per share for the current fiscal year, with EPS estimates ranging from ($4.63) to ($3.81). For the next financial year, analysts expect that the company will report earnings of ($0.06) per share, with EPS estimates ranging from ($1.00) to $0.95. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that follow Cinemark.

Cinemark (NYSE:CNK) last released its earnings results on Tuesday, August 4th. The company reported ($1.45) EPS for the quarter, beating the consensus estimate of ($1.46) by $0.01. The firm had revenue of $8.97 million for the quarter, compared to analyst estimates of $7.24 million. Cinemark had a negative net margin of 7.96% and a negative return on equity of 9.76%. The business’s quarterly revenue was down 99.1% compared to the same quarter last year. During the same period last year, the firm earned $0.86 EPS.

A number of research analysts have recently issued reports on CNK shares. Goldman Sachs Group initiated coverage on shares of Cinemark in a research report on Wednesday, July 15th. They issued a “neutral” rating and a $12.00 price target on the stock. TheStreet downgraded shares of Cinemark from a “c” rating to a “d+” rating in a report on Thursday, June 4th. ValuEngine raised shares of Cinemark from a “buy” rating to a “strong-buy” rating in a report on Friday, July 3rd. Morgan Stanley lowered their target price on shares of Cinemark from $18.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Monday, August 3rd. Finally, Imperial Capital lowered their target price on shares of Cinemark from $24.00 to $23.00 and set an “outperform” rating on the stock in a research note on Friday, June 19th. Six equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Cinemark has an average rating of “Buy” and a consensus target price of $19.54.
Shares of Cinemark stock opened at $16.08 on Thursday. The firm has a market capitalization of $1.72 billion, a PE ratio of -10.94 and a beta of 1.84. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 2.05. The firm’s 50 day moving average is $12.57 and its 200 day moving average is $14.91. Cinemark has a 1 year low of $5.71 and a 1 year high of $39.81.

A number of institutional investors have recently added to or reduced their stakes in CNK. AQR Capital Management LLC grew its holdings in Cinemark by 730.4% in the second quarter. AQR Capital Management LLC now owns 4,360,139 shares of the company’s stock valued at $50,360,000 after purchasing an additional 3,835,053 shares during the period. ArrowMark Colorado Holdings LLC grew its stake in shares of Cinemark by 43.0% in the first quarter. ArrowMark Colorado Holdings LLC now owns 8,205,177 shares of the company’s stock valued at $83,611,000 after buying an additional 2,466,425 shares in the last quarter. Deutsche Bank AG grew its stake in Cinemark by 1,174.5% during the 1st quarter. Deutsche Bank AG now owns 2,516,669 shares of the company’s stock worth $25,643,000 after purchasing an additional 2,319,210 shares in the last quarter. Impala Asset Management LLC acquired a new position in Cinemark during the 2nd quarter worth $10,710,000. Finally, Two Sigma Investments LP grew its stake in Cinemark by 4,346.2% during the 1st quarter. Two Sigma Investments LP now owns 779,411 shares of the company’s stock worth $7,942,000 after purchasing an additional 761,881 shares in the last quarter. Institutional investors own 83.13% 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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