FY2019 EPS Estimates for Cinemark Holdings, Inc. Cut by Analyst (NYSE:CNK)

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Cinemark Holdings, Inc. (NYSE:CNK) – Analysts at Wedbush cut their FY2019 EPS estimates for shares of Cinemark in a research report issued on Tuesday, November 5th. Wedbush analyst M. Pachter now expects that the company will post earnings of $2.04 per share for the year, down from their prior forecast of $2.30. Wedbush currently has a “Buy” rating and a $45.00 target price on the stock. Wedbush also issued estimates for Cinemark’s Q4 2019 earnings at $0.62 EPS, Q1 2020 earnings at $0.46 EPS, Q2 2020 earnings at $0.70 EPS, Q3 2020 earnings at $0.42 EPS, Q4 2020 earnings at $0.56 EPS, FY2020 earnings at $2.15 EPS and FY2021 earnings at $2.37 EPS.

Cinemark (NYSE:CNK) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.27 EPS for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.23). The company had revenue of $821.82 million for the quarter, compared to analyst estimates of $807.69 million. Cinemark had a net margin of 5.60% and a return on equity of 14.25%. The business’s revenue was up 9.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.43 EPS.

Several other analysts also recently weighed in on CNK. Macquarie set a $42.00 target price on Cinemark and gave the company a “hold” rating in a research note on Tuesday, October 15th. Goldman Sachs Group set a $43.00 price target on Cinemark and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Morgan Stanley reduced their price target on Cinemark from $41.00 to $37.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 23rd. TheStreet lowered Cinemark from a “b-” rating to a “c+” rating in a research report on Wednesday. Finally, MKM Partners reduced their price target on Cinemark from $45.00 to $43.00 and set a “buy” rating on the stock in a research report on Tuesday, September 10th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $43.60.

NYSE:CNK traded up $0.33 during mid-day trading on Friday, hitting $36.31. 57,987 shares of the company’s stock traded hands, compared to its average volume of 1,091,418. The firm has a 50 day moving average of $37.12 and a two-hundred day moving average of $38.27. Cinemark has a 12 month low of $34.49 and a 12 month high of $43.51. The firm has a market capitalization of $4.30 billion, a price-to-earnings ratio of 19.84, a price-to-earnings-growth ratio of 1.06 and a beta of 0.68. The company has a current ratio of 0.95, a quick ratio of 0.92 and a debt-to-equity ratio of 1.19.

A number of hedge funds have recently made changes to their positions in CNK. Marshall Wace LLP purchased a new position in Cinemark during the 1st quarter valued at about $65,000. Amundi Pioneer Asset Management Inc. lifted its stake in shares of Cinemark by 5.2% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 122,899 shares of the company’s stock valued at $4,915,000 after purchasing an additional 6,112 shares during the period. DNB Asset Management AS purchased a new stake in Cinemark in the 2nd quarter worth $25,830,000. WINTON GROUP Ltd purchased a new stake in Cinemark in the 2nd quarter worth $613,000. Finally, Grassi Investment Management purchased a new stake in Cinemark in the 2nd quarter worth $909,000. 99.60% of the stock is owned by institutional investors and hedge funds.

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.

Further Reading: Calculating net profit and net profit margin ratio

Earnings History and Estimates for Cinemark (NYSE:CNK)

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