Cinemark Holdings Inc. (NYSE:CNK) – FBR & Co lowered their Q3 2016 earnings estimates for Cinemark Holdings in a research note issued on Monday. FBR & Co analyst B. Crockett now anticipates that the brokerage will post earnings per share of $0.63 for the quarter, down from their prior forecast of $0.72. FBR & Co also issued estimates for Cinemark Holdings’ Q4 2016 earnings at $0.46 EPS.
Cinemark Holdings (NYSE:CNK) last issued its quarterly earnings data on Tuesday, August 9th. The company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.51 by $0.05. Cinemark Holdings had a net margin of 7.58% and a return on equity of 19.68%. The company had revenue of $744.40 million for the quarter, compared to the consensus estimate of $746.05 million. During the same quarter last year, the business posted $0.61 earnings per share. Cinemark Holdings’s revenue was down 6.9% on a year-over-year basis.
Several other equities analysts have also recently issued reports on the company. JPMorgan Chase & Co. reissued a “buy” rating on shares of Cinemark Holdings in a research note on Sunday, July 10th. Loop Capital initiated coverage on Cinemark Holdings in a research note on Tuesday, August 23rd. They set a “buy” rating and a $44.00 target price on the stock. Wedbush reaffirmed a “neutral” rating and issued a $40.00 price target on shares of Cinemark Holdings in a research note on Thursday, September 22nd. Drexel Hamilton reaffirmed a “buy” rating on shares of Cinemark Holdings in a research note on Thursday, July 7th. Finally, Credit Suisse Group AG set a $37.00 price target on Cinemark Holdings and gave the stock a “hold” rating in a research note on Monday, August 1st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $40.46.
Shares of Cinemark Holdings (NYSE:CNK) opened at 39.67 on Wednesday. The stock’s 50 day moving average price is $38.63 and its 200 day moving average price is $36.61. Cinemark Holdings has a 12 month low of $26.56 and a 12 month high of $40.19. The stock has a market capitalization of $4.59 billion, a price-to-earnings ratio of 21.23 and a beta of 1.01.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Commonwealth Equity Services Inc increased its position in shares of Cinemark Holdings by 24.5% in the first quarter. Commonwealth Equity Services Inc now owns 14,791 shares of the company’s stock worth $530,000 after buying an additional 2,910 shares during the last quarter. Aperio Group LLC boosted its stake in Cinemark Holdings by 32.8% in the first quarter. Aperio Group LLC now owns 24,099 shares of the company’s stock worth $863,000 after buying an additional 5,955 shares during the period. Nisa Investment Advisors L.L.C. boosted its stake in Cinemark Holdings by 68.2% in the first quarter. Nisa Investment Advisors L.L.C. now owns 14,300 shares of the company’s stock worth $512,000 after buying an additional 5,800 shares during the period. Ngam Advisors L.P. boosted its stake in Cinemark Holdings by 30.4% in the first quarter. Ngam Advisors L.P. now owns 31,167 shares of the company’s stock worth $1,117,000 after buying an additional 7,272 shares during the period. Finally, TIAA CREF Investment Management LLC boosted its stake in Cinemark Holdings by 1.2% in the first quarter. TIAA CREF Investment Management LLC now owns 420,817 shares of the company’s stock worth $15,078,000 after buying an additional 4,907 shares during the period. 88.53% of the stock is currently owned by hedge funds and other institutional investors.
About Cinemark Holdings
Cinemark Holdings, Inc (Cinemark) is engaged in the motion picture exhibition business with theatres in the United States, Brazil, Mexico, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Curacao and Bolivia. The Company manages its business in two segments: United States markets and international markets.
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