B. Riley Comments on Cinemark Holdings, Inc.’s Q2 2019 Earnings (CNK)
Cinemark Holdings, Inc. (NYSE:CNK) – Analysts at B. Riley lifted their Q2 2019 earnings per share (EPS) estimates for shares of Cinemark in a report issued on Tuesday, January 22nd. B. Riley analyst E. Wold now anticipates that the company will earn $0.82 per share for the quarter, up from their previous estimate of $0.70. B. Riley currently has a “Buy” rating and a $45.00 target price on the stock. B. Riley also issued estimates for Cinemark’s Q3 2019 earnings at $0.50 EPS, Q1 2020 earnings at $0.48 EPS, Q2 2020 earnings at $0.88 EPS, Q3 2020 earnings at $0.53 EPS, Q4 2020 earnings at $0.57 EPS and FY2020 earnings at $2.46 EPS.
A number of other analysts have also issued reports on the stock. Imperial Capital reissued an “outperform” rating and issued a $47.00 price target (up from $46.00) on shares of Cinemark in a research report on Monday, January 7th. ValuEngine raised shares of Cinemark from a “hold” rating to a “buy” rating in a research report on Tuesday, December 11th. Zacks Investment Research lowered shares of Cinemark from a “buy” rating to a “hold” rating in a research report on Friday, November 30th. Royal Bank of Canada increased their price target on shares of Cinemark from $43.00 to $45.00 and gave the stock an “outperform” rating in a research report on Monday, November 5th. Finally, MKM Partners increased their price target on shares of Cinemark to $47.00 and gave the stock a “buy” rating in a research report on Wednesday, October 24th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $44.00.
Cinemark (NYSE:CNK) last posted its quarterly earnings results on Friday, November 2nd. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.09. The business had revenue of $754.20 million during the quarter, compared to analyst estimates of $730.27 million. Cinemark had a net margin of 9.12% and a return on equity of 19.92%. The firm’s revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.33 earnings per share.
A number of hedge funds have recently made changes to their positions in CNK. Bessemer Group Inc. acquired a new position in Cinemark during the third quarter valued at approximately $168,000. Stratos Wealth Partners LTD. acquired a new position in Cinemark during the third quarter valued at approximately $171,000. Keybank National Association OH acquired a new position in Cinemark during the third quarter valued at approximately $202,000. BB&T Corp grew its holdings in Cinemark by 5.4% during the fourth quarter. BB&T Corp now owns 5,891 shares of the company’s stock valued at $211,000 after purchasing an additional 302 shares during the last quarter. Finally, Holistic Financial Partners acquired a new position in Cinemark during the third quarter valued at approximately $266,000. Institutional investors own 99.40% of the company’s stock.
In related news, CFO Sean Gamble sold 7,468 shares of the stock in a transaction that occurred on Friday, November 9th. The stock was sold at an average price of $40.90, for a total value of $305,441.20. Following the transaction, the chief financial officer now owns 92,673 shares in the company, valued at $3,790,325.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 8.90% of the company’s stock.
Cinemark Company Profile
Cinemark Holdings, Inc, together with its subsidiaries, engages in the motion picture exhibition business. As of September 30, 2018, it operated 541 theatres with 6,014 screens in 41 states of the United States, Brazil, Argentina, and 13 other Latin American countries. The company was incorporated in 2006 and is headquartered in Plano, Texas.
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