Cinemark (NYSE:CNK) Announces Quarterly Earnings Results

Cinemark (NYSE:CNK - Get Free Report) released its quarterly earnings data on Thursday. The company reported $1.19 earnings per share for the quarter, beating analysts' consensus estimates of $0.58 by $0.61, Briefing.com reports. The business had revenue of $921.80 million during the quarter, compared to analyst estimates of $894.90 million. Cinemark had a net margin of 5.05% and a return on equity of 41.87%. Cinemark's revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.61 EPS.

Cinemark Price Performance

CNK traded up $0.09 on Friday, hitting $29.85. 3,262,769 shares of the company's stock traded hands, compared to its average volume of 2,863,309. The company's 50 day simple moving average is $28.20 and its 200-day simple moving average is $23.07. The company has a current ratio of 1.29, a quick ratio of 1.26 and a debt-to-equity ratio of 6.23. Cinemark has a one year low of $13.19 and a one year high of $31.09. The firm has a market cap 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.

Insider Buying and Selling

In other news, insider Valmir Fernandes sold 25,000 shares of Cinemark stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $27.19, for a total value of $679,750.00. Following the sale, the insider now directly owns 204,729 shares of the company's stock, valued at approximately $5,566,581.51. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Cinemark from $25.00 to $29.00 and gave the company a "neutral" rating in a research note on Monday, October 14th. The Goldman Sachs Group lifted their price target on Cinemark from $16.00 to $20.00 and gave the stock a "sell" rating in a research note on Thursday, September 19th. Wells Fargo & Company increased their price objective on Cinemark from $31.00 to $35.00 and gave the company an "overweight" rating in a research report on Friday. StockNews.com downgraded Cinemark from a "hold" rating to a "sell" rating in a research report on Thursday, October 24th. Finally, Morgan Stanley increased their price target on shares of Cinemark from $29.00 to $35.00 and gave the company an "overweight" rating in a research report on Friday, October 11th. Two research analysts have rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $30.80.

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.