Cinemark (NYSE:CNK) Issues Earnings Results, Beats Expectations By $0.40 EPS

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

Cinemark Stock Up 0.7 %

NYSE:CNK traded up $0.13 during midday trading on Friday, reaching $17.72. 3,420,747 shares of the stock traded hands, compared to its average volume of 3,239,711. The business has a 50-day moving average of $17.91 and a two-hundred 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. Cinemark has a 12-month low of $13.19 and a 12-month high of $20.40. The stock has a market capitalization of $2.15 billion, a PE ratio of 12.22, a price-to-earnings-growth ratio of 2.08 and a beta of 2.25.

Wall Street Analyst Weigh In

CNK has been the subject of a number of research reports. JPMorgan Chase & Co. boosted their price target on Cinemark from $17.00 to $19.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Barrington Research restated an “outperform” rating and issued a $24.00 price objective on shares of Cinemark in a report on Monday, April 22nd. Wedbush reiterated an “outperform” rating and set a $23.00 target price on shares of Cinemark in a report on Thursday, April 25th. StockNews.com downgraded shares of Cinemark from a “hold” rating to a “sell” rating in a research report on Friday. Finally, B. Riley upped their price target on shares of Cinemark from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Friday. Two equities research 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. Based on data from MarketBeat.com, Cinemark currently has an average rating of “Hold” and a consensus target price of $20.33.

Insider Transactions at Cinemark

In other news, insider Wanda Marie Gierhart sold 19,593 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $16.75, for a total value of $328,182.75. Following the completion of the sale, 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.

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.