Cinemark (CNK) Set to Announce Quarterly Earnings on Thursday

Cinemark (NYSE:CNK) is scheduled to be issuing its quarterly earnings data before the market opens on Thursday, October 31st. Analysts expect the company to announce earnings of $0.56 per share for the quarter. Persons interested in listening to the company’s earnings conference call can do so using this link.

Cinemark (NYSE:CNK) last released its quarterly earnings results on Friday, August 2nd. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.25. The firm had revenue of $734.20 million for the quarter, compared to the consensus estimate of $691.74 million. Cinemark had a return on equity of 41.87% and a net margin of 5.05%. The company’s revenue for the quarter was down 22.1% on a year-over-year basis. During the same quarter last year, the business posted $0.80 EPS. On average, analysts expect Cinemark to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Cinemark Stock Down 0.5 %

CNK stock opened at $28.34 on Thursday. The business has a 50-day moving average of $27.92 and a 200-day moving average of $22.65. Cinemark has a fifty-two week low of $13.19 and a fifty-two week high of $29.87. The stock has a market capitalization of $3.47 billion, a P/E ratio of 19.54, a P/E/G ratio of 1.94 and a beta of 2.36. The company has a debt-to-equity ratio of 6.23, a current ratio of 1.29 and a quick ratio of 1.26.

Insider Buying and Selling

In other Cinemark 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 completion of the transaction, the insider now directly owns 204,729 shares of the company’s stock, valued at $5,566,581.51. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.30% of the stock is owned by insiders.

Analysts Set New Price Targets

CNK has been the subject of several research reports. Morgan Stanley raised their price target on shares of Cinemark from $29.00 to $35.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Roth Mkm lifted their price target on shares of Cinemark from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Benchmark restated a “buy” rating and set a $23.00 price objective on shares of Cinemark in a research note on Monday, July 1st. The Goldman Sachs Group lifted their target price on Cinemark from $16.00 to $20.00 and gave the company a “sell” rating in a research report on Thursday, September 19th. Finally, Macquarie increased their price target on Cinemark from $21.00 to $24.00 and gave the company an “outperform” rating in a research report on Tuesday, July 9th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $28.10.

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.