Cinemark Holdings Inc (NYSE:CNK) shares, rose in value, with the stock price up by 5.38% to the previous day’s close as strong demand from buyers drove the stock to $19.77.
Actively observing the price movement in the last trading, the stock closed the session at $18.76. The value of beta (5-year monthly) was 2.28 whereas the PE ratio was 15.99 over 12-month period. Referring to stock’s 52-week performance, its high was $19.85, and the low was $13.19. On the whole, CNK has fluctuated by 15.89% over the past month.
With the market capitalization of Cinemark Holdings Inc currently standing at about $2.40 billion, investors are eagerly awaiting this quarter’s results, scheduled for May 03, 2024 – May 07, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.26, which is expected to increase to $0.51 for fiscal year $0.75 and then to about $1.62 by fiscal year 2025. Data indicates that the EPS growth is expected to be -44.00% in 2025, while the next year’s EPS growth is forecast to be 116.00%.
Analysts have estimated the company’s revenue for the quarter at $537.9 million, with a low estimate of $503 million and a high estimate of $582.55 million. According to the average forecast, sales growth in current quarter could jump down -5.00%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $2.85 billion, representing a decrease of -7.20% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that CNK’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium term indicators have put the stock in the category of 100% Buy while long term indicators on average have been pointing out that it is a 50% Buy.
The stock’s technical analysis shows that the PEG ratio is about 1.60, with the price of CNK currently trading nearly 9.13% and 19.34% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 74.15, while the 7-day volatility ratio is showing 3.69% which for the 30-day chart, stands at 3.24%. Furthermore, Cinemark Holdings Inc (CNK)’s beta value is 2.26, and its average true range (ATR) is 0.63.
A comparison of Cinemark Holdings Inc (CNK) with its peers suggests the former has fared considerably weaker in the market. CNK showed an intraday change of 5.38% in last session, and over the past year, it grew by 35.60%%.
Data on historical trading for Cinemark Holdings Inc (NYSE:CNK) indicates that the trading volumes over the past 10 days have averaged 1.87 million and over the past 3 months, they’ve averaged 3.05 million. According to company’s latest data on outstanding shares, there are 121.60 million shares outstanding.
Nearly 10.72% of Cinemark Holdings Inc’s shares belong to company insiders and institutional investors own 117.71% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 27.07 million shares as on Mar 15, 2024, resulting in a short ratio of 7.31. According to the data, the short interest in Cinemark Holdings Inc (CNK) stood at 22.27% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 26.88 million. The stock has risen by 40.31% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the CNK stock heading into the next quarter.
