Cinemark (NYSE:CNK) Issues Quarterly Earnings Results, Beats Expectations By $0.61 EPS

Cinemark (NYSE:CNK) released its earnings results on Thursday. The company reported $1.19 EPS for the quarter, beating the consensus estimate of $0.58 by $0.61, Briefing.com reports. The firm had revenue of $921.80 million for the quarter, compared to analysts’ expectations of $894.90 million. Cinemark had a return on equity of 41.87% and a net margin of 5.05%. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.61 EPS.

Cinemark Trading Down 1.0 %

Cinemark stock traded down $0.29 during trading hours on Friday, reaching $29.46. The company had a trading volume of 1,155,048 shares, compared to its average volume of 2,853,337. The firm has a market cap of $3.61 billion, a price-to-earnings ratio of 30.63, a P/E/G ratio of 2.07 and a beta of 2.36. Cinemark has a 12-month low of $13.19 and a 12-month high of $31.09. The company has a debt-to-equity ratio of 6.23, a current ratio of 1.29 and a quick ratio of 1.26. The company has a 50-day moving average price of $28.20 and a 200 day moving average price of $23.07.

Insider Transactions at Cinemark

In other Cinemark news, insider Valmir Fernandes sold 25,000 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $27.19, for a total value of $679,750.00. Following the sale, the insider now owns 204,729 shares of the company’s stock, valued at $5,566,581.51. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.30% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Macquarie upped their price objective on Cinemark from $32.00 to $34.00 and gave the company an “outperform” rating in a report on Friday. Morgan Stanley raised their price objective on Cinemark from $29.00 to $35.00 and gave the company an “overweight” rating in a report on Friday, October 11th. The Goldman Sachs Group lifted their target price on shares of Cinemark from $16.00 to $20.00 and gave the stock a “sell” rating in a research note on Thursday, September 19th. Wedbush upped their price target on shares of Cinemark from $31.00 to $32.00 and gave the company an “outperform” rating in a research report on Tuesday. Finally, StockNews.com downgraded Cinemark from a “hold” rating to a “sell” rating in a research note on Thursday, October 24th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Cinemark has a consensus rating of “Moderate Buy” and an average target price of $30.40.

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.