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

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

Cinemark Trading Up 1.1 %

Shares of NYSE CNK traded up $0.31 during midday trading on Friday, hitting $28.10. 586,743 shares of the company traded hands, compared to its average volume of 2,750,457. Cinemark has a 12-month low of $15.74 and a 12-month high of $36.28. The company has a debt-to-equity ratio of 3.87, a quick ratio of 0.96 and a current ratio of 0.98. The stock has a 50-day moving average price of $30.33 and a 200 day moving average price of $29.75. The firm has a market cap of $3.44 billion, a P/E ratio of 13.82 and a beta of 2.38.

Cinemark Dividend Announcement

The business also recently declared a — dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be given a dividend of $0.08 per share. The ex-dividend date is Wednesday, March 5th.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on CNK shares. Benchmark dropped their price objective on shares of Cinemark from $40.00 to $35.00 and set a “buy” rating for the company in a report on Thursday. Morgan Stanley dropped their price objective on shares of Cinemark from $40.00 to $35.00 and set an “overweight” rating for the company in a report on Thursday. Wedbush reaffirmed a “neutral” rating and set a $32.00 price objective on shares of Cinemark in a report on Tuesday. Barrington Research reaffirmed an “outperform” rating and set a $40.00 price objective on shares of Cinemark in a report on Wednesday. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Cinemark from $31.00 to $30.00 and set a “neutral” rating for the company in a report on Thursday. One analyst has rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $32.70.

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.