Cinemark (NYSE:CNK) Releases Earnings Results, Hits Estimates

Cinemark (NYSE:CNK - Get Free Report) posted its quarterly earnings data on Friday. The company reported ($0.32) EPS for the quarter, hitting analysts' consensus estimates of ($0.32), Zacks reports. The firm had revenue of $540.70 million for the quarter, compared to analyst estimates of $604.62 million. Cinemark had a return on equity of 65.83% and a net margin of 10.16%. The company's revenue was down 6.6% on a year-over-year basis. During the same quarter last year, the company earned $0.19 EPS.

Cinemark Trading Down 0.5 %

NYSE CNK traded down $0.17 on Thursday, hitting $31.00. The company's stock had a trading volume of 1,183,544 shares, compared to its average volume of 3,005,854. The firm has a market cap of $3.66 billion, a PE ratio of 15.27 and a beta of 1.91. The company's 50-day moving average is $26.69 and its 200 day moving average is $29.36. The company has a quick ratio of 0.96, a current ratio of 1.01 and a debt-to-equity ratio of 3.28. Cinemark has a 1-year low of $16.32 and a 1-year high of $36.28.

Cinemark Announces Dividend

The firm also recently disclosed a -- dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were issued a $0.08 dividend. The ex-dividend date was Wednesday, March 5th. Cinemark's dividend payout ratio (DPR) is presently 21.05%.

Analysts Set New Price Targets

CNK has been the subject of several recent analyst reports. Morgan Stanley cut their price objective on shares of Cinemark from $40.00 to $35.00 and set an "overweight" rating for the company in a research report on Thursday, February 20th. Wells Fargo & Company cut their price target on shares of Cinemark from $38.00 to $36.00 and set an "overweight" rating for the company in a report on Wednesday, January 29th. Barrington Research reissued an "outperform" rating and issued a $36.00 price objective on shares of Cinemark in a research note on Monday. Benchmark cut their target price on Cinemark from $40.00 to $35.00 and set a "buy" rating for the company in a research note on Thursday, February 20th. Finally, Wedbush reiterated a "neutral" rating and issued a $32.00 price target on shares of Cinemark in a research note on Monday, April 28th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $32.80.

Insider Activity at Cinemark

In other news, insider Wanda Marie Gierhart sold 9,119 shares of the stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $27.00, for a total transaction of $246,213.00. Following the completion of the sale, the insider now directly owns 147,414 shares in the company, valued at $3,980,178. This represents a 5.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 2.10% of the stock is currently owned by company insiders.

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.