Cinemark (NYSE:CNK) Releases Earnings Results, Beats Estimates By $0.40 EPS

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

Cinemark Trading Up 0.7 %

Shares of CNK traded up $0.13 during mid-day trading on Friday, hitting $17.72. 3,420,747 shares of the company’s stock traded hands, compared to its average volume of 3,239,711. The company has a quick ratio of 1.42, a current ratio of 1.45 and a debt-to-equity ratio of 7.15. The firm has a market capitalization of $2.15 billion, a P/E ratio of 12.22, a PEG ratio of 2.09 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. Cinemark has a 1 year low of $13.19 and a 1 year high of $20.40.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CNK. StockNews.com cut shares of Cinemark from a “hold” rating to a “sell” rating in a research report on Friday. Barrington Research reaffirmed an “outperform” rating and set a $24.00 target price on shares of Cinemark in a report on Monday, April 22nd. Wedbush reissued an “outperform” rating and issued a $23.00 price target on shares of Cinemark in a research note on Thursday, April 25th. The Goldman Sachs Group reduced their price objective on Cinemark from $16.00 to $12.00 and set a “sell” rating on the stock in a research note on Thursday, January 11th. Finally, Benchmark reissued a “buy” rating and issued a $23.00 target price on shares of Cinemark in a research note on Friday. Two research analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $20.33.

Insider Buying and Selling

In other Cinemark news, insider Wanda Marie Gierhart sold 19,593 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $16.75, for a total value of $328,182.75. Following the completion of the transaction, the insider now directly owns 179,591 shares in the company, valued at approximately $3,008,149.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.30% of the stock is currently owned by insiders.

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.