Cinemark (NYSE:CNK) Issues Quarterly Earnings Results, Beats Expectations By $0.40 EPS

Cinemark (NYSE:CNK) announced its earnings results on Thursday. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.40, Briefing.com reports. Cinemark had a return on equity of 69.48% and a net margin of 7.12%. The company had revenue of $579.00 million for the quarter, compared to analyst estimates of $561.91 million. During the same quarter in the previous year, the company earned ($0.03) earnings per share. The firm’s quarterly revenue was down 5.2% compared to the same quarter last year.

Cinemark Stock Up 0.7 %

Shares of CNK stock traded up $0.13 on Friday, reaching $17.72. 3,420,747 shares of the stock were exchanged, compared to its average volume of 3,239,711. The company has a market capitalization of $2.15 billion, a price-to-earnings ratio of 12.22, a PEG ratio of 2.08 and a beta of 2.25. The business’s 50 day moving average price is $17.91 and its 200 day moving average price is $15.85. The company has a current ratio of 1.45, a quick ratio of 1.42 and a debt-to-equity ratio of 7.15. Cinemark has a twelve month low of $13.19 and a twelve month high of $20.40.

Insider Buying and Selling at Cinemark

In related news, insider Wanda Marie Gierhart sold 19,593 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $16.75, for a total transaction of $328,182.75. Following the completion of the sale, the insider now owns 179,591 shares in the company, valued at $3,008,149.25. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 2.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CNK. The Goldman Sachs Group decreased their target price on Cinemark from $16.00 to $12.00 and set a “sell” rating on the stock in a research note on Thursday, January 11th. Barrington Research reissued an “outperform” rating and issued a $24.00 price objective on shares of Cinemark in a research note on Monday, April 22nd. Wells Fargo & Company raised shares of Cinemark from an “underweight” rating to an “overweight” rating and upped their target price for the stock from $13.00 to $23.00 in a research note on Friday, April 5th. Roth Mkm raised their price target on shares of Cinemark from $17.00 to $19.00 and gave the company a “neutral” rating in a research report on Wednesday, April 10th. Finally, Benchmark reaffirmed a “buy” rating and set a $23.00 price objective on shares of Cinemark in a research report on Friday. Two analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $20.33.

Cinemark Company Profile

Cinemark Holdings, Inc, together with its subsidiaries, engages in the motion picture exhibition business. As of February 16, 2024, it operated 501 theatres with 5,719 screens in 42 states and 13 countries in South and Central America. Cinemark Holdings, Inc was founded in 1984 and is headquartered in Plano, Texas.