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

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

Cinemark Price Performance

Shares of NYSE:CNK traded up $0.10 during trading on Friday, reaching $29.85. The stock had a trading volume of 3,202,987 shares, compared to its average volume of 2,861,982. 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 1-year low of $13.19 and a 1-year high of $31.09. The stock has a market cap of $3.65 billion, a PE ratio of 30.63, a PEG ratio of 2.07 and a beta of 2.36. The business has a fifty day moving average price of $28.20 and a 200-day moving average price of $23.07.

Insider Buying and Selling at Cinemark

In other news, insider Valmir Fernandes sold 25,000 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $27.19, for a total transaction 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 represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

CNK has been the subject of several recent research reports. Barrington Research raised shares of Cinemark from a “market perform” rating to an “outperform” rating and set a $36.00 target price for the company in a report on Thursday. The Goldman Sachs Group upped their price objective on shares of Cinemark from $16.00 to $20.00 and gave the stock a “sell” rating in a research report on Thursday, September 19th. B. Riley lowered shares of Cinemark from a “buy” rating to a “neutral” rating and set a $31.00 target price on the stock. in a research note on Tuesday, August 27th. JPMorgan Chase & Co. lifted their price target on Cinemark from $25.00 to $29.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Finally, Wedbush increased their price target on Cinemark from $31.00 to $32.00 and gave the stock an “outperform” rating in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Cinemark has a consensus rating of “Moderate Buy” and an average price target 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.