Cinemark (NYSE:CNK) Issues Earnings Results

Cinemark (NYSE:CNK) released its earnings results on Thursday. The company reported $1.19 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $894.90 million. During the same period in the prior year, the firm earned $0.61 EPS. The firm’s quarterly revenue was up 5.4% on a year-over-year basis.

Cinemark Stock Up 0.3 %

CNK opened at $29.85 on Friday. The firm has a 50 day moving average price of $28.24 and a 200 day moving average price of $23.19. The company has a market cap of $3.65 billion, a PE ratio of 30.77, a price-to-earnings-growth ratio of 2.07 and a beta of 2.36. Cinemark has a 1 year low of $13.19 and a 1 year high of $31.09. The company has a debt-to-equity ratio of 6.23, a quick ratio of 1.26 and a current ratio of 1.29.

Insider Buying and Selling

In other Cinemark news, insider Valmir Fernandes sold 25,000 shares of the stock in a transaction that occurred 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 completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.30% of the company’s stock.

Analyst Upgrades and Downgrades

CNK has been the subject of a number of research analyst reports. Macquarie upped their price objective on shares of Cinemark from $32.00 to $34.00 and gave the company an “outperform” rating in a research note on Friday. JPMorgan Chase & Co. upped their price objective on shares of Cinemark from $25.00 to $29.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Roth Mkm upped their price objective on shares of Cinemark from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. StockNews.com downgraded shares of Cinemark from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, The Goldman Sachs Group upped their price objective on shares of Cinemark from $16.00 to $20.00 and gave the company a “sell” rating in a research note on Thursday, September 19th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $30.80.

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.