The Brokers Set Expectations for Cinemark Holdings Inc.’s FY2016 Earnings (CNK)

The Brokers Set Expectations for Cinemark Holdings Inc.’s FY2016 Earnings (CNK)

Cinemark Holdings Inc. (NYSE:CNK) – Investment analysts at Wedbush upped their FY2016 earnings per share (EPS) estimates for Cinemark Holdings in a research note issued to investors on Tuesday. Wedbush analyst M. Pachter now forecasts that the firm will post earnings per share of $1.97 for the year, up from their prior estimate of $1.96. Wedbush currently has a “Neutral” rating and a $40.00 price objective on the stock. Wedbush also issued estimates for Cinemark Holdings’ Q3 2017 earnings at $0.64 EPS and FY2017 earnings at $2.33 EPS.

A number of other brokerages have also weighed in on CNK. B. Riley restated a “buy” rating and issued a $47.00 price objective on shares of Cinemark Holdings in a report on Monday, November 14th. Goldman Sachs Group Inc. upgraded shares of Cinemark Holdings from a “neutral” rating to a “buy” rating and set a $46.00 price objective on the stock in a report on Monday, October 31st. Loop Capital restated a “buy” rating and issued a $44.00 price objective on shares of Cinemark Holdings in a report on Tuesday, October 4th. Benchmark Co. restated a “hold” rating and issued a $35.94 price objective on shares of Cinemark Holdings in a report on Wednesday, November 9th. Finally, RBC Capital Markets restated an “outperform” rating and issued a $43.00 price objective (up from $42.00) on shares of Cinemark Holdings in a report on Monday, November 14th. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $42.13.

Shares of Cinemark Holdings (NYSE:CNK) opened at 39.77 on Wednesday. The firm has a 50-day moving average of $39.24 and a 200 day moving average of $38.92. Cinemark Holdings has a 12-month low of $26.56 and a 12-month high of $42.56. The stock has a market capitalization of $4.60 billion, a price-to-earnings ratio of 19.59 and a beta of 0.97.

In related news, EVP Tom Owens sold 3,100 shares of the firm’s stock in a transaction dated Monday, December 19th. The shares were sold at an average price of $39.02, for a total value of $120,962.00. Following the completion of the sale, the executive vice president now owns 74,950 shares in the company, valued at $2,924,549. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael Cavalier sold 5,525 shares of the firm’s stock in a transaction dated Friday, December 9th. The shares were sold at an average price of $39.23, for a total transaction of $216,745.75. Following the completion of the sale, the executive vice president now owns 166,528 shares of the company’s stock, valued at approximately $6,532,893.44. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,037 shares of company stock worth $471,595. Insiders own 9.20% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Smithfield Trust Co. boosted its stake in shares of Cinemark Holdings by 1.4% in the second quarter. Smithfield Trust Co. now owns 6,666 shares of the company’s stock valued at $243,000 after buying an additional 93 shares during the period. BB&T Corp boosted its stake in shares of Cinemark Holdings by 0.3% in the third quarter. BB&T Corp now owns 33,642 shares of the company’s stock valued at $1,288,000 after buying an additional 99 shares during the period. Horan Capital Advisors LLC. boosted its stake in shares of Cinemark Holdings by 0.3% in the third quarter. Horan Capital Advisors LLC. now owns 52,647 shares of the company’s stock valued at $2,015,000 after buying an additional 170 shares during the period. Miles Capital Inc. boosted its stake in shares of Cinemark Holdings by 1.5% in the second quarter. Miles Capital Inc. now owns 11,936 shares of the company’s stock valued at $435,000 after buying an additional 173 shares during the period. Finally, State Treasurer State of Michigan boosted its stake in shares of Cinemark Holdings by 0.5% in the third quarter. State Treasurer State of Michigan now owns 42,600 shares of the company’s stock valued at $1,631,000 after buying an additional 200 shares during the period. Hedge funds and other institutional investors own 88.34% of the company’s stock.

Cinemark Holdings Company Profile

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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