The B. Riley Weighs in on Cinemark Holdings Inc.’s Q3 2016 Earnings (CNK)

The B. Riley Weighs in on Cinemark Holdings Inc.’s Q3 2016 Earnings (CNK)

Cinemark Holdings Inc. (NYSE:CNK) – Equities researchers at B. Riley increased their Q3 2016 earnings estimates for shares of Cinemark Holdings in a report issued on Thursday. B. Riley analyst E. Wold now anticipates that the brokerage will post earnings of $0.52 per share for the quarter, up from their previous forecast of $0.41. B. Riley has a “Buy” rating and a $47.00 price objective on the stock.

Cinemark Holdings (NYSE:CNK) last released its earnings results on Tuesday, August 9th. The company reported $0.46 earnings per share for the quarter, missing the Thomson Reuters’ 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 business had revenue of $744.40 million for the quarter, compared to analysts’ expectations of $746.05 million. During the same period last year, the firm earned $0.61 EPS. The company’s revenue was down 6.9% compared to the same quarter last year.

Other equities analysts have also recently issued research reports about the company. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Cinemark Holdings in a report on Sunday, July 10th. Loop Capital began coverage on Cinemark Holdings in a report on Tuesday, August 23rd. They issued a “buy” rating and a $44.00 price target on the stock. Wedbush reiterated a “neutral” rating and issued a $40.00 price target on shares of Cinemark Holdings in a report on Thursday, September 22nd. Credit Suisse Group AG began coverage on Cinemark Holdings in a report on Monday, June 13th. They issued a “neutral” rating and a $33.00 price target on the stock. Finally, Drexel Hamilton reiterated a “buy” rating on shares of Cinemark Holdings in a report on Thursday, July 7th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $40.46.

Cinemark Holdings (NYSE:CNK) opened at 39.56 on Friday. Cinemark Holdings has a 1-year low of $26.56 and a 1-year high of $39.88. The firm’s 50-day moving average price is $38.45 and its 200 day moving average price is $36.51. The stock has a market cap of $4.57 billion, a PE ratio of 21.17 and a beta of 1.01.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 13th. Investors of record on Wednesday, August 31st were issued a dividend of $0.27 per share. The ex-dividend date of this dividend was Monday, August 29th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.73%. Cinemark Holdings’s payout ratio is presently 58.06%.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Park National Corp OH increased its position in Cinemark Holdings by 37.8% in the third quarter. Park National Corp OH now owns 7,681 shares of the company’s stock worth $294,000 after buying an additional 2,106 shares during the last quarter. Macquarie Group Ltd. increased its position in Cinemark Holdings by 31.7% in the second quarter. Macquarie Group Ltd. now owns 1,174,674 shares of the company’s stock worth $42,829,000 after buying an additional 282,602 shares during the last quarter. Carnick & Kubik Group LLC purchased a new position in Cinemark Holdings during the second quarter worth about $664,000. Northwestern Mutual Investment Management Company LLC increased its position in Cinemark Holdings by 40.4% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 1,103,558 shares of the company’s stock worth $40,236,000 after buying an additional 317,370 shares during the last quarter. Finally, Mason Street Advisors LLC purchased a new position in Cinemark Holdings during the second quarter worth about $1,758,000. Institutional investors and hedge funds own 88.53% of the company’s stock.

Cinemark Holdings Company Profile

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