Cinemark (NYSE:CNK) Announces Earnings Results

Cinemark (NYSE:CNK) posted its quarterly earnings data on Thursday. The company reported $0.19 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $579.00 million for the quarter, compared to the consensus estimate of $561.91 million. During the same quarter last year, the company earned ($0.03) earnings per share. The business’s revenue for the quarter was down 5.2% compared to the same quarter last year.

Cinemark Trading Up 0.7 %

CNK stock traded up $0.13 during midday trading on Friday, reaching $17.72. 3,420,747 shares of the company traded hands, compared to its average volume of 3,239,711. The firm has a market capitalization of $2.15 billion, a price-to-earnings ratio of 12.22, a P/E/G ratio of 2.08 and a beta of 2.25. Cinemark has a 52-week low of $13.19 and a 52-week high of $20.40. The business has a 50 day moving average of $17.91 and a 200-day moving average of $15.85. The company has a debt-to-equity ratio of 7.15, a quick ratio of 1.42 and a current ratio of 1.45.

Analyst Ratings Changes

CNK has been the subject of a number of recent analyst reports. The Goldman Sachs Group dropped their price target on shares of Cinemark from $16.00 to $12.00 and set a “sell” rating for the company in a research report on Thursday, January 11th. B. Riley raised their price target on Cinemark from $14.00 to $16.00 and gave the company a “neutral” rating in a report on Friday. Barrington Research reaffirmed 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 Cinemark from an “underweight” rating to an “overweight” rating and lifted their target price for the company from $13.00 to $23.00 in a research note on Friday, April 5th. Finally, Benchmark restated a “buy” rating and issued a $23.00 price target on shares of Cinemark in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, Cinemark has a consensus rating of “Hold” and a consensus target price of $20.33.

Insider Transactions at Cinemark

In other Cinemark news, insider Wanda Marie Gierhart sold 19,593 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $16.75, for a total transaction of $328,182.75. Following the transaction, 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 Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.30% of the company’s stock.

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.