Cinemark (NYSE:CNK) Issues Earnings Results

Cinemark (NYSE:CNK) announced its quarterly earnings results 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. Cinemark had a net margin of 7.12% and a return on equity of 69.48%. The company had revenue of $579.00 million during the quarter, compared to the consensus estimate of $561.91 million. During the same quarter in the previous year, the company posted ($0.03) earnings per share. The company’s revenue for the quarter was down 5.2% compared to the same quarter last year.

Cinemark Price Performance

Shares of NYSE:CNK traded up $0.13 on Friday, reaching $17.72. 3,420,747 shares of the company traded hands, compared to its average volume of 3,239,711. The company has a debt-to-equity ratio of 7.15, a current ratio of 1.45 and a quick ratio of 1.42. The stock has a market capitalization of $2.15 billion, a PE ratio of 12.22, a P/E/G ratio of 2.08 and a beta of 2.25. The company’s 50 day moving average is $17.91 and its 200-day moving average is $15.85. Cinemark has a fifty-two week low of $13.19 and a fifty-two week high of $20.40.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CNK. Roth Mkm boosted their target price on shares of Cinemark from $17.00 to $19.00 and gave the company a “neutral” rating in a research note on Wednesday, April 10th. Wedbush reiterated an “outperform” rating and set a $23.00 price objective on shares of Cinemark in a research report on Thursday, April 25th. Benchmark restated a “buy” rating and issued a $23.00 target price on shares of Cinemark in a research report on Friday. JPMorgan Chase & Co. boosted their price target on Cinemark from $17.00 to $19.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Finally, B. Riley raised their price target on Cinemark from $14.00 to $16.00 and gave the company a “neutral” rating in a report on Friday. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $20.33.

Insider Transactions at Cinemark

In related news, insider Wanda Marie Gierhart sold 19,593 shares of the 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 transaction, the insider now owns 179,591 shares in the company, valued at approximately $3,008,149.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.30% of the stock is owned by insiders.

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.