Cinemark (NYSE:CNK) Issues Earnings Results

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

Cinemark Price Performance

Shares of CNK traded up $0.13 during midday trading on Friday, hitting $17.72. 3,420,747 shares of the company traded hands, compared to its average volume of 3,239,711. The firm has a 50 day moving average of $17.91 and a 200-day moving average of $15.85. Cinemark has a 52 week low of $13.19 and a 52 week high of $20.40. The stock has a market cap 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 company has a debt-to-equity ratio of 7.15, a quick ratio of 1.42 and a current ratio of 1.45.

Insider Buying and Selling at Cinemark

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

Wall Street Analysts Forecast Growth

A number of research firms have commented on CNK. Wedbush reaffirmed an “outperform” rating and issued a $23.00 target price on shares of Cinemark in a research report on Thursday, April 25th. JPMorgan Chase & Co. boosted their price objective on shares of Cinemark from $17.00 to $19.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. StockNews.com downgraded shares of Cinemark from a “hold” rating to a “sell” rating in a research report on Friday. Wells Fargo & Company raised shares of Cinemark from an “underweight” rating to an “overweight” rating and boosted their price objective for the company from $13.00 to $23.00 in a research report on Friday, April 5th. Finally, Benchmark reissued a “buy” rating and set a $23.00 price objective on shares of Cinemark in a research report on Friday. Two investment 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’s stock. Based on data from MarketBeat.com, Cinemark currently has an average rating of “Hold” and an average target price of $20.33.

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.