Cinemark (NYSE:CNK) Releases Earnings Results, Misses Estimates By $0.06 EPS

Cinemark (NYSE:CNK) posted its earnings results on Wednesday. The company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.06), Zacks reports. The company had revenue of $814.30 million for the quarter, compared to analysts’ expectations of $797.18 million. Cinemark had a net margin of 8.36% and a return on equity of 60.21%. The business’s revenue was up 27.5% on a year-over-year basis. During the same period in the previous year, the business posted ($0.15) earnings per share.

Cinemark Stock Down 13.7 %

Shares of CNK opened at $28.53 on Thursday. The company has a quick ratio of 0.96, a current ratio of 0.98 and a debt-to-equity ratio of 3.46. The business has a fifty day moving average of $30.44 and a 200 day moving average of $29.76. The company has a market cap of $3.49 billion, a PE ratio of 18.41 and a beta of 2.38. Cinemark has a 52-week low of $15.74 and a 52-week high of $36.28.

Analysts Set New Price Targets

Several research firms have commented on CNK. Macquarie increased their price objective on shares of Cinemark from $32.00 to $34.00 and gave the company an “outperform” rating in a report on Friday, November 1st. StockNews.com raised Cinemark from a “sell” rating to a “hold” rating in a research note on Sunday, November 10th. Barrington Research reaffirmed an “outperform” rating and issued a $40.00 price objective on shares of Cinemark in a research note on Wednesday. Wells Fargo & Company decreased their price objective on Cinemark from $38.00 to $36.00 and set an “overweight” rating on the stock in a report on Wednesday, January 29th. Finally, Benchmark reissued a “buy” rating and issued a $40.00 target price on shares of Cinemark in a report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $33.20.

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.