Cinemark (NYSE:CNK) Announces Earnings Results

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

Cinemark Stock Up 0.3 %

Shares of NYSE:CNK traded up $0.10 during trading on Friday, hitting $29.85. The company’s stock had a trading volume of 3,202,987 shares, compared to its average volume of 2,861,982. The company has a market capitalization of $3.65 billion, a PE ratio of 30.63, a P/E/G ratio of 2.07 and a beta of 2.36. The company has a debt-to-equity ratio of 6.23, a quick ratio of 1.26 and a current ratio of 1.29. Cinemark has a fifty-two week low of $13.19 and a fifty-two week high of $31.09. The business has a 50 day moving average price of $28.20 and a two-hundred day moving average price of $23.07.

Insider Activity at Cinemark

In other news, insider Valmir Fernandes sold 25,000 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $27.19, for a total transaction of $679,750.00. Following the completion of the transaction, the insider now directly owns 204,729 shares of the company’s stock, valued at approximately $5,566,581.51. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently commented on CNK shares. Roth Mkm upped their price objective on Cinemark from $30.00 to $33.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Barrington Research raised Cinemark from a “market perform” rating to an “outperform” rating and set a $36.00 price target on the stock in a research note on Thursday. Wells Fargo & Company boosted their price objective on shares of Cinemark from $28.00 to $31.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Morgan Stanley increased their target price on shares of Cinemark from $29.00 to $35.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Finally, Wedbush boosted their price target on shares of Cinemark from $31.00 to $32.00 and gave the company an “outperform” rating in a research note on Tuesday. Two analysts have rated the stock with a sell rating, two have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $30.40.

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.