Cinemark (NYSE:CNK) Releases Quarterly Earnings Results, Misses Expectations By $0.06 EPS

Cinemark (NYSE:CNK) released its quarterly earnings data on Wednesday. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.06), Zacks reports. Cinemark had a net margin of 8.36% and a return on equity of 60.21%.

Cinemark Stock Down 12.6 %

CNK stock opened at $28.89 on Wednesday. Cinemark has a twelve month low of $15.74 and a twelve month high of $36.28. The company has a quick ratio of 0.96, a current ratio of 0.98 and a debt-to-equity ratio of 3.46. The stock has a market cap of $3.53 billion, a P/E ratio of 18.59 and a beta of 2.38. The business’s 50-day moving average price is $30.54 and its 200-day moving average price is $29.72.

Wall Street Analysts Forecast Growth

CNK has been the topic of several recent analyst reports. StockNews.com raised Cinemark from a “sell” rating to a “hold” rating in a research report on Sunday, November 10th. Benchmark reaffirmed a “buy” rating and set a $40.00 price objective on shares of Cinemark in a research report on Friday, January 10th. Barrington Research raised Cinemark from a “market perform” rating to an “outperform” rating and set a $36.00 price objective on the stock in a research report on Thursday, October 31st. Wedbush reissued a “neutral” rating and issued a $32.00 target price on shares of Cinemark in a research report on Tuesday. Finally, Macquarie raised their target price on Cinemark from $32.00 to $34.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Cinemark presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.80.

About Cinemark

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.