Cinemark (NYSE:CNK) Issues Earnings Results

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

Cinemark Trading Up 3.5 %

Cinemark stock traded up $1.05 during trading on Tuesday, reaching $30.84. The company had a trading volume of 4,481,328 shares, compared to its average volume of 3,010,634. Cinemark has a 12-month low of $16.32 and a 12-month high of $36.28. The company has a debt-to-equity ratio of 3.28, a quick ratio of 0.96 and a current ratio of 1.01. The stock's 50 day moving average price is $26.47 and its two-hundred day moving average price is $29.34. The firm has a market capitalization of $3.64 billion, a price-to-earnings ratio of 15.19 and a beta of 1.91.

Cinemark Announces Dividend

The business also recently announced a -- dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were given a $0.08 dividend. The ex-dividend date was Wednesday, March 5th. Cinemark's dividend payout ratio is presently 21.05%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on CNK shares. Wedbush reissued a "neutral" rating and issued a $32.00 price target on shares of Cinemark in a report on Monday, April 28th. Macquarie restated an "outperform" rating and set a $35.00 target price on shares of Cinemark in a research report on Thursday, February 20th. Barrington Research reaffirmed an "outperform" rating and set a $36.00 price target on shares of Cinemark in a research note on Monday. Morgan Stanley lowered their target price on Cinemark from $40.00 to $35.00 and set an "overweight" rating on the stock in a report on Thursday, February 20th. Finally, Benchmark reduced their target price on Cinemark from $40.00 to $35.00 and set a "buy" rating on the stock in a research note on Thursday, February 20th. One analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $32.80.

Insider Buying and Selling at Cinemark

In other news, insider Wanda Marie Gierhart sold 9,119 shares of Cinemark stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $27.00, for a total value of $246,213.00. Following the transaction, the insider now directly owns 147,414 shares of the company's stock, valued at $3,980,178. The trade was a 5.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 2.10% of the stock is 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.