Cinemark Holdings, Inc. (NYSE:CNK) – Imperial Capital lifted their FY2019 EPS estimates for Cinemark in a note issued to investors on Thursday, December 6th. Imperial Capital analyst D. Miller now anticipates that the company will post earnings per share of $2.30 for the year, up from their prior forecast of $2.27. Imperial Capital currently has a “Outperform” rating and a $46.00 target price on the stock. Imperial Capital also issued estimates for Cinemark’s Q4 2019 earnings at $0.55 EPS.
CNK has been the topic of several other reports. Royal Bank of Canada upped their target price on shares of Cinemark from $43.00 to $45.00 and gave the stock an “outperform” rating in a research note on Monday, November 5th. Zacks Investment Research downgraded shares of Cinemark from a “buy” rating to a “hold” rating in a research note on Friday, November 30th. Wedbush reaffirmed a “buy” rating and set a $43.00 target price on shares of Cinemark in a research note on Monday, October 15th. MKM Partners upped their target price on shares of Cinemark to $47.00 and gave the stock a “buy” rating in a research note on Wednesday, October 24th. Finally, ValuEngine raised shares of Cinemark from a “hold” rating to a “buy” rating in a research note on Tuesday, October 9th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $43.90.
Cinemark (NYSE:CNK) last announced its earnings results on Friday, November 2nd. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.09. Cinemark had a net margin of 9.12% and a return on equity of 19.92%. The firm had revenue of $754.20 million for the quarter, compared to the consensus estimate of $730.27 million. During the same period in the prior year, the firm earned $0.33 EPS. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis.
Several large investors have recently made changes to their positions in CNK. Legal & General Group Plc boosted its holdings in shares of Cinemark by 1.1% in the 3rd quarter. Legal & General Group Plc now owns 161,892 shares of the company’s stock valued at $6,508,000 after buying an additional 1,730 shares in the last quarter. Rehmann Capital Advisory Group boosted its holdings in shares of Cinemark by 3,280.0% in the 3rd quarter. Rehmann Capital Advisory Group now owns 27,175 shares of the company’s stock valued at $676,000 after buying an additional 26,371 shares in the last quarter. Nordea Investment Management AB boosted its holdings in shares of Cinemark by 40.7% in the 3rd quarter. Nordea Investment Management AB now owns 197,435 shares of the company’s stock valued at $7,938,000 after buying an additional 57,084 shares in the last quarter. Captrust Financial Advisors acquired a new position in shares of Cinemark in the 3rd quarter valued at $523,000. Finally, Macquarie Group Ltd. boosted its holdings in shares of Cinemark by 1.8% in the 3rd quarter. Macquarie Group Ltd. now owns 1,731,160 shares of the company’s stock valued at $69,593,000 after buying an additional 29,921 shares in the last quarter.
In other Cinemark news, CFO Sean Gamble sold 7,468 shares of the stock in a transaction that occurred on Friday, November 9th. The shares were sold at an average price of $40.90, for a total value of $305,441.20. Following the sale, the chief financial officer now directly owns 92,673 shares of the company’s stock, valued at approximately $3,790,325.70. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 8.90% of the company’s stock.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 18th. Shareholders of record on Tuesday, December 4th will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date of this dividend is Monday, December 3rd. Cinemark’s dividend payout ratio is presently 56.64%.
Cinemark Holdings, Inc, together with its subsidiaries, engages in the motion picture exhibition business. As of October 15, 2018, it operated 539 theatres with 5,998 screens in 41 states of the United States, Brazil, Argentina, Chile, and 12 other Latin American countries. The company was incorporated in 2006 and is headquartered in Plano, Texas.
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