Cinemark (NYSE:CNK) Releases Quarterly Earnings Results, Beats Expectations By $0.25 EPS

Cinemark (NYSE:CNK) issued its earnings results on Friday. The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.25, Briefing.com reports. The company had revenue of $734.20 million for the quarter, compared to analyst estimates of $691.74 million. Cinemark had a return on equity of 69.48% and a net margin of 7.12%. Cinemark’s revenue for the quarter was down 22.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.80 earnings per share.

Cinemark Stock Performance

NYSE:CNK traded up $1.76 during trading on Friday, reaching $24.85. The company’s stock had a trading volume of 8,461,209 shares, compared to its average volume of 3,028,719. The firm has a 50 day moving average of $20.18 and a 200-day moving average of $18.06. The company has a debt-to-equity ratio of 7.42, a quick ratio of 1.45 and a current ratio of 1.48. The firm has a market cap of $3.04 billion, a price-to-earnings ratio of 17.14, a price-to-earnings-growth ratio of 2.14 and a beta of 2.36. Cinemark has a 12 month low of $13.19 and a 12 month high of $25.37.

Analyst Ratings Changes

A number of research firms have weighed in on CNK. StockNews.com lowered shares of Cinemark from a “hold” rating to a “sell” rating in a research note on Thursday, May 30th. Wedbush restated an “outperform” rating and issued a $25.00 target price on shares of Cinemark in a report on Monday, July 29th. Benchmark reiterated a “buy” rating and set a $23.00 price target on shares of Cinemark in a research note on Monday, July 1st. B. Riley raised Cinemark from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $16.00 to $27.00 in a research note on Monday, July 8th. Finally, Morgan Stanley raised their target price on Cinemark from $24.00 to $26.00 and gave the company an “overweight” rating in a report on Thursday, July 18th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $22.90.

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.