Cinemark Holdings, Inc. (NYSE:CNK) – Analysts at B. Riley dropped their Q4 2017 EPS estimates for shares of Cinemark in a report released on Monday. B. Riley analyst E. Wold now expects that the company will post earnings of $0.48 per share for the quarter, down from their prior estimate of $0.55. B. Riley currently has a “Buy” rating and a $42.50 price objective on the stock. B. Riley also issued estimates for Cinemark’s Q1 2018 earnings at $0.64 EPS, Q2 2018 earnings at $0.78 EPS, Q4 2018 earnings at $0.51 EPS, Q2 2019 earnings at $0.84 EPS and FY2019 earnings at $2.61 EPS.
Other equities analysts have also issued research reports about the stock. Royal Bank of Canada raised shares of Cinemark from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $33.91 to $40.00 in a research report on Wednesday, January 10th. Wedbush set a $42.00 target price on shares of Cinemark and gave the stock a “buy” rating in a research report on Tuesday, December 5th. MKM Partners dropped their target price on shares of Cinemark to $44.00 and set a “buy” rating on the stock in a research report on Wednesday. Zacks Investment Research raised shares of Cinemark from a “sell” rating to a “hold” rating in a research report on Wednesday, November 8th. Finally, Morgan Stanley raised shares of Cinemark from an “underweight” rating to an “equal weight” rating and set a $38.00 target price on the stock in a research report on Thursday, October 5th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company’s stock. Cinemark has a consensus rating of “Hold” and a consensus price target of $41.50.
Cinemark (NYSE:CNK) last issued its quarterly earnings data on Friday, November 3rd. The company reported $0.33 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.02). Cinemark had a return on equity of 18.43% and a net margin of 8.36%. The firm had revenue of $710.70 million during the quarter, compared to analyst estimates of $702.60 million. During the same quarter in the previous year, the firm posted $0.56 earnings per share. Cinemark’s quarterly revenue was down 7.5% compared to the same quarter last year.
A number of institutional investors have recently made changes to their positions in CNK. Victory Capital Management Inc. increased its holdings in Cinemark by 1,771.5% in the 3rd quarter. Victory Capital Management Inc. now owns 3,510,900 shares of the company’s stock valued at $127,129,000 after buying an additional 3,323,302 shares during the period. FMR LLC increased its holdings in Cinemark by 17.5% in the 2nd quarter. FMR LLC now owns 11,685,034 shares of the company’s stock valued at $453,963,000 after buying an additional 1,742,861 shares during the period. Vanguard Group Inc. increased its holdings in Cinemark by 4.3% in the 2nd quarter. Vanguard Group Inc. now owns 9,385,792 shares of the company’s stock valued at $364,639,000 after buying an additional 382,700 shares during the period. River Road Asset Management LLC increased its holdings in Cinemark by 16.2% in the 3rd quarter. River Road Asset Management LLC now owns 2,269,850 shares of the company’s stock valued at $82,191,000 after buying an additional 317,029 shares during the period. Finally, Lord Abbett & CO. LLC bought a new stake in Cinemark in the 2nd quarter valued at $8,856,000. 94.74% of the stock is currently owned by hedge funds and other institutional investors.
In other Cinemark news, Director Lee Roy Mitchell sold 174,607 shares of the business’s stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $36.72, for a total value of $6,411,569.04. Following the sale, the director now owns 5,528,843 shares of the company’s stock, valued at approximately $203,019,114.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Tom Owens sold 9,213 shares of the business’s stock in a transaction on Wednesday, December 20th. The shares were sold at an average price of $36.00, for a total transaction of $331,668.00. Following the completion of the sale, the executive vice president now directly owns 42,722 shares in the company, valued at approximately $1,537,992. The disclosure for this sale can be found here. Insiders sold a total of 483,820 shares of company stock worth $17,672,093 in the last three months. Insiders own 9.20% of the company’s stock.
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Cinemark Holdings, Inc is engaged in the motion picture exhibition business with theatres in the United States (U.S.), Brazil, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Paraguay, Curacao and Bolivia. The Company manages its business in two segments: U.S.
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