Cinemark (NYSE:CNK) Issues Quarterly Earnings Results, Misses Expectations By $0.06 EPS

Cinemark (NYSE:CNK - Get Free Report) announced its earnings results on Wednesday. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.06), Zacks reports. Cinemark had a net margin of 10.16% and a return on equity of 65.83%. The company had revenue of $814.30 million for the quarter, compared to analysts' expectations of $797.18 million. During the same period in the prior year, the company earned ($0.15) earnings per share. The company's revenue for the quarter was up 27.5% on a year-over-year basis.

Cinemark Stock Down 1.1 %

CNK stock traded down $0.32 during mid-day trading on Friday, hitting $27.47. The stock had a trading volume of 4,185,178 shares, compared to its average volume of 2,814,044. The company has a current ratio of 0.98, a quick ratio of 0.96 and a debt-to-equity ratio of 3.87. Cinemark has a 1-year low of $15.74 and a 1-year high of $36.28. The company has a fifty day moving average of $30.33 and a 200 day moving average of $29.75. The stock has a market capitalization of $3.36 billion, a price-to-earnings ratio of 13.53 and a beta of 2.38.

Cinemark Announces Dividend

The company also recently announced a -- dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be given a $0.08 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. Cinemark's payout ratio is currently 15.76%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CNK. JPMorgan Chase & Co. reduced their target price on Cinemark from $31.00 to $30.00 and set a "neutral" rating for the company in a report on Thursday. Wedbush reaffirmed a "neutral" rating and set a $32.00 target price on shares of Cinemark in a report on Tuesday. Macquarie reaffirmed an "outperform" rating and set a $35.00 target price on shares of Cinemark in a report on Thursday. Barrington Research reaffirmed an "outperform" rating and set a $40.00 target price on shares of Cinemark in a report on Wednesday. Finally, Wells Fargo & Company reduced their target price on Cinemark from $38.00 to $36.00 and set an "overweight" rating for the company in a report on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $32.70.

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.