Cinemark Holdings Inc. (NYSE: CNK): Stock Forecast For 2021 Still Looks Weak With A -61.62% Decline – Marketing Sentinel
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Cinemark Holdings Inc. (NYSE: CNK): Stock Forecast For 2021 Still Looks Weak With A -61.62% Decline

In the last trading session, 3.41 million shares of the Cinemark Holdings Inc. (NYSE:CNK) were traded, and its beta was 2.51. Most recently the company’s share price was $19.80, and it changed around $0.4 or 2.06% from the last close, which brings the market valuation of the company to $2.39B. CNK currently trades at a discount to its 52-week high of $27.84, offering almost -40.61% off that amount. The share price’s 52-week low was $7.56, which indicates that the current value has risen by an impressive 61.82% since then. We note from Cinemark Holdings Inc.’s average daily trading volume that its 10-day average is 4.36 million shares, with the 3-month average coming to 4.33 million.

Cinemark Holdings Inc. stock received a consensus recommendation rating of an Overweight, based on a mean score of 2.50. If we narrow it down even further, the data shows that 1 out of 12 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 6 recommended CNK as a Hold, whereas 5 deemed it a Buy, and 0 rated it as Underweight. Cinemark Holdings Inc. is expected to report earnings per share of -$0.56 for the current quarter.

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Cinemark Holdings Inc. (NYSE:CNK) trade information

Instantly CNK has showed a green trend with a performance of 2.06% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of 21.90 on Tuesday, 10/12/21 increased the stock’s daily price by 9.59%. The company’s shares are currently up 13.73% year-to-date, but still down -9.22% over the last five days. On the other hand, Cinemark Holdings Inc. (NYSE:CNK) is 8.26% down in the 30-day period. We can see from the shorts that 20.27 million shares have been sold at a short interest cover period of 7.23 day(s).

The consensus price target as assigned by Wall Street analysts is $22.79, which translates to bulls needing to increase their stock price by 13.12% from its current value. Analyst projections state that CNK is forecast to be at a low of $14.50 and a high of $32.00. In order for the stock price to hit the forecast high, the stock would need to plunge -61.62% from its current level, while the stock would need to crash 26.77% from its current level to reach the projected low.

Cinemark Holdings Inc. (CNK) estimates and forecasts

Cinemark Holdings Inc. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -8.84 percent over the past six months and at a 29.52% annual growth rate that is well above the industry average of 27.20%. Moreover, analysts have decided to roll up on their fiscal year 2021 revenue estimates. The rating firms predict that it will gain 55.20% in revenue this quarter, and will report an increase of 95.60% in the next quarter. The year-over-year growth rate is expected to be 110.60%, up from the previous year.

Consensus estimates provided by 10 financial analysts predict the company will bring in an average of $433.48 million in revenue for the current quarter. 10 analysts expect Cinemark Holdings Inc. to make $595.11 million in revenue for the quarter ending Dec 2021. Forecasts for the next quarter put sales growth at 505.80%.

Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -41.50%. Cinemark Holdings Inc. earnings are expected to increase by -520.40% in 2021, but the outlook is positive 4.00% per year for the next five years.

CNK Dividends

Cinemark Holdings Inc.’s next quarterly earnings report is expected to be released around November 03 and November 08.

Cinemark Holdings Inc. (NYSE:CNK)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 11.02% of Cinemark Holdings Inc. shares, and 91.97% of them are in the hands of institutional investors. The stock currently has a share float of 103.35%. Cinemark Holdings Inc. stock is held by 359 institutions, with Blackrock Inc. being the largest institutional investor. By Mar 30, 2021, it held 10.94% of the shares, which is about 13.07 million shares worth $266.82 million.

Vanguard Group, Inc. (The), with 8.04% or 9.61 million shares worth $196.07 million as of Mar 30, 2021, holds the second largest percentage of outstanding shares.

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Vanguard Explorer Fund, Inc. and iShares Core S&P Midcap ETF were the top two Mutual Funds as of Jan 30, 2021. The former held 3.43 million shares worth $69.33 million, making up 2.87% of all outstanding shares. On the other hand, iShares Core S&P Midcap ETF held roughly 2.95 million shares worth around $62.48 million, which represents about 2.47% of the total shares outstanding.

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