In a report issued earlier today, Wedbush Securities maintained its Neutral rating on Cinemark Holdings, Inc. CNK, but raised its price target from $22 to $24.
Wedbush said in the report that “Final Q1 domestic box office results were well above our expectations. Q1 box office increased 23.6% year-over-year according to boxofficemojo.com. After raising our growth estimate for domestic admissions revenue per average screen (our proxy for domestic box office growth), our Q1 revenue estimate goes to $575million from $535 million compared to consensus of $554 million. Our Q1 EPS estimate goes to $0.34 from $0.24 compared to consensus of $0.29. We believe consensus does not yet reflect the final box office.”
Cinemark Holdings, Inc. closed yesterday at $21.85.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in