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

Cinemark (NYSE:CNK) released its quarterly earnings results on Thursday. The company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $921.80 million for the quarter, compared to analyst estimates of $894.90 million. During the same period in the prior year, the company earned $0.61 EPS. Cinemark’s revenue for the quarter was up 5.4% on a year-over-year basis.

Cinemark Stock Performance

Shares of NYSE:CNK opened at $29.85 on Friday. The company has a market capitalization of $3.65 billion, a price-to-earnings ratio of 30.77, a P/E/G ratio of 2.07 and a beta of 2.36. The firm’s 50 day simple moving average is $28.24 and its 200 day simple moving average is $23.16. The company has a debt-to-equity ratio of 6.23, a current ratio of 1.29 and a quick ratio of 1.26. Cinemark has a fifty-two week low of $13.19 and a fifty-two week high of $31.09.

Insider Buying and Selling at Cinemark

In other news, insider Valmir Fernandes sold 25,000 shares of Cinemark 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 transaction, the insider now directly owns 204,729 shares of the company’s stock, valued at $5,566,581.51. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 2.30% of the company’s stock.

Analyst Ratings Changes

CNK has been the subject of several research analyst reports. The Goldman Sachs Group boosted 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. Roth Mkm boosted their target price on Cinemark from $30.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Morgan Stanley raised their price target on Cinemark from $29.00 to $35.00 and gave the company an “overweight” rating in a report on Friday, October 11th. StockNews.com cut Cinemark from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Macquarie raised their target price on shares of Cinemark from $32.00 to $34.00 and gave the company an “outperform” rating in a research note on Friday. Two analysts have rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $30.80.

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.